IRDAI Caps Heath Insurance Premium At 10% For Senior Citizens

Daily Current Affairs / IRDAI Caps Heath Insurance Premium At 10% For Senior Citizens

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Category : Business and economics Published on: February 04 2025

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The Insurance Regulatory and Development Authority of India (IRDAI) has ordered insurers to seek prior approval before increasing health insurance premiums for senior citizens aged 60 years and above by more than 10%, in order to make insurance affordable and accessible.
Under this new directive, any health or general insurance company wishing to raise premiums for senior citizens by more than 10% must submit a formal application to IRDAI.