September 16, 2024 5:58 PM

IRDAI removes age cap on health insurance purchase

The Insurance Regulatory and Development Authority of India (IRDAI) has lifted the age cap on purchasing health insurance policies, effective from April 1, 2024. Previously, individuals were restricted to buying new insurance policies only until the age of 65. However, with the recent changes that came into effect on April 1, 2024, anyone, regardless of age, is now eligible to purchase new health insurance. "Insurers must ensure they offer health insurance products catering to all age groups. ...