“The insurers are directed to put in place a board approved underwriting policy immediately that ensures that no proposal from the Persons with disabilities, HIV/AIDS and Mental Illness is denied covers,” said IRDAI in a circular on Monday
Hyderabad:
Insurance regulator IRDAI has now made it mandatory for general and Stand-alone Health Insurer(SAHI) to launch standard covers for Persons with Disabilities (PWD), Persons afflicted with HIV/AIDS, and those with Mental Illness.
“The insurers are directed to put in place a board approved underwriting policy that
ensures that no proposal from the above-mentioned categories of population is denied for reason of the above stated disabilities and/or illness/es,” said IRDAI in a circular on Monday.
Every registered general and SAHI shall mandatorily launch and offer their respective standard products immediately, said the IRDAI.
Though , IRDAI has provided a model setting out the minimum scope and parameters for design of the product, insurers can widen the scope of this product but in no case can the scope of product be narrowed down
The policy tenure of the product is for a period of one year and renewable as per regulatory framework already laid down. The insurers can determine the price of the product that should confirm to the existing regulations.
In the light of the new provisions incorporated in the respective Acts including Section 21(4) of the Mental Health Care Act(MHCA),2017, Section 3 of the Rights of Persons with Disabilities Act, 2016, Section 3(j) of the HIV AND AIDS (prevention and Control) ACT, 2017, and with the objective of making available an appropriate product offering health insurance cover for certain vulnerable sections of society viz. Persons with Disabilities (PWD), Persons afflicted with HIV/AIDS, and those with Mental Illness, all general and health insurers have to offer a specific cover for Persons with Disabilities (PWD), persons afflicted with HIV/AIDS, and those with mental illness, instructed the IRDAI