Health Insurance Changes That Will Come Into Effect From October 2020
Health insurance can be tricky to understand for most people in India. Hence, many a time, people avoid buying the policy altogether. However, considering the urgency of the product with the on-going situation, every individual needs to have a health insurance plan in place. From October 2020, there are several changes implemented by the Government of India that are bound to affect your finances. In simple words, these changes will impact your regular expenses in many ways. Health insurance plans in India is one such section that will change entirely from this month. As per the Insurance Regulatory and Development Authority of India (IRDAI), insurers can no longer reject health insurance claims that easily. As per the new guidelines, the insurance providers cannot deny claims of the health insurance policyholder paying premiums for more than eight years. Moreover, the policy will be standardised across the sector and will cover a wide range of health conditions. With such extensive co