IRDAI Health Guidelines,2016
onesheetexam.com https://onesheetexam.com/ IRDAI Health Insurance Guidelines,2016 Major points: All health insurance policies issued by general and health insurers are portable. Policies issued by life insurers cannot be ported. Any insured wanting to port his/her policy has to apply to the new insurer between 45 to 60 days before the renewal date. The existing insurer has to furnish the insured's data within seven days. The new insurer has to communicate with the insured within 15 days of receipt of the data. If an insured has a sum insured of Rs. 5 lakhs in his/her existing policy and an accrued bonus of say Rs.1 lakh, the new insurer has to offer a sum insured of at least Rs. 6 lakhs. Renewability of health policies is life long . This does not apply to benefit policies where lump sum is paid to the insured and policy terminated. Life insurers cannot offer indemnity based products. Health policies issued by life insurers must have a tenure of five years o...