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The Insurance Regulatory and Development Authority has announced minor modifications in the health insurance regulations notified in February.
In a circular, IRDA Chairman, T.S. Vijayan, said insurers can provide coverage to non-allopathic treatment provided if the policyholder had received treatment only in a Government hospital or institutions recognised by it or accredited by quality council of India/National Accreditation Board on Health.
The existing guidelines extended coverage to treatment received in “any suitable institution” in addition to the above.
Further, there would be no cumulative bonus on benefit based policies with the exception of personal accident cover.
All new individual health insurance policies except those with tenure of less than a year should have a free-look period which would be applicable at the inception of the policy, the regulator said.
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