Door opens for senior citizens to get health insurance: What they should do

Seniors must strike a balance between premium and co-pay; too low a premium could mean high co-pay, which would pinch at the time of claim settlement

The Insurance Regulatory and Development Authority of India (Irdai) has introduced the new Insurance Products Regulations 2024, mandating insurers to offer health insurance plans to all age groups. This replaces the previous requirement that health policies must offer an entry age of at least 65 years.

Implications for the elderly

The 2016 health insurance guidelines mentioned that companies offering health insurance must provide entry into policies at least up to the age of 65. This cap has now been removed. “Irdai’s announcement is a significant step towards greater inclusivity in health insurance,” says Rakesh Jain, chief executive officer, Reliance