Here are five new insurance updates related to health insurance for doctors in India in 2024:

No Age Limit for Health Insurance: The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age limit for buying health insurance in India. Starting April 1, 2024, individuals of any age, including those above 65, are now eligible to purchase new health insurance policies.

Increased Coverage for Pre-Existing Conditions: The IRDAI has reduced the health insurance waiting period from 48 months to 36 months. This means that all pre-existing conditions should be covered after 36 months, regardless of whether the policyholder disclosed them initially or not. Insurers are prohibited from rejecting claims based on pre-existing conditions after these 36 months.

New Rules for Senior Citizens: The IRDAI has instructed insurers to develop health insurance products catering to all age groups, including senior citizens. Insurers can create policies tailored to specific demographics, such as senior citizens, students, children, and maternity, among others. This move aims to foster a more inclusive healthcare ecosystem in India.

No Denial of Policies for Severe Medical Conditions: The IRDAI has prohibited insurers from denying policies to individuals with severe medical conditions, including cancer, heart or renal failure, and AIDS. This change aims to ensure that health insurance is more accessible to those who need it most.

Shift from Indemnity-Based to Benefit-Based Policies: The IRDAI has abolished the maximum entry age restriction of 65 years to buy health insurance. Additionally, insurers are no longer permitted to offer indemnity-based health policies, which compensate for hospital expenses. Instead, they can only provide benefit-based policies, offering fixed costs upon the occurrence of a covered disease.

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