IRDAI’s Health Insurance Updates
This document outlines the key updates from the Insurance Regulatory and Development Authority of India’s (IRDAI) 2024 consolidated Master Circular. It explains significant consumer-friendly changes, such as capping the pre-existing disease waiting period at 36 months and removing the maximum age limit for purchasing new policies. Additionally, it highlights the reduction of the moratorium period to five years and the extension of the free-look period to 30 days. Ultimately, this guide serves to help policyholders understand these new rules and verify their existing policies during renewal.