STANDARDISATION OF HEALTH INSURANCE - MODIFICATION OF PRE-EXISTING DISEASE CLAUSE
IRDAI vide circular ref. no. IRDAI/HLT/REG/CIR/046/02/2020 dtd. 10/02/2020 has modified the provision relating to pre-existing condition as spelt out under Ref No. IRDAI/HLT/REG/CIR/177/09/2019 and Modification Guidelines on Standardization in Health Insurance vide Ref No. IRDAI/HLT/REG/CIR/176/09/2019 dated 27th September 2019.
Now the implication of pre-existing disease relating to denial of any claim with respect to "A condition for which any symptoms and or signs if presented and have resulted within three months of the issuance of the policy in a diagnostic illness or medical condition" as described under sub-point (c) stands deleted.
However, the 48 month clause shall remain as it is.
IRDAI vide circular ref. no. IRDAI/HLT/REG/CIR/046/02/2020 dtd. 10/02/2020 has modified the provision relating to pre-existing condition as spelt out under Ref No. IRDAI/HLT/REG/CIR/177/09/2019 and Modification Guidelines on Standardization in Health Insurance vide Ref No. IRDAI/HLT/REG/CIR/176/09/2019 dated 27th September 2019.
Now the implication of pre-existing disease relating to denial of any claim with respect to "A condition for which any symptoms and or signs if presented and have resulted within three months of the issuance of the policy in a diagnostic illness or medical condition" as described under sub-point (c) stands deleted.
However, the 48 month clause shall remain as it is.
The recent modification of the pre-existing disease clause in health insurance, as outlined in the circular by IRDAI, is a significant step towards enhancing consumer protection and clarity. The removal of the provision that previously led to claim denials based on symptoms arising within three months of policy issuance is a positive development. This change ensures that policyholders are not unfairly denied coverage for conditions that might have developed shortly after obtaining the insurance. Such standardized revisions contribute to a fairer and more transparent health insurance landscape, fostering trust between insurers and policyholders. For more details, visit Key Man Insurance UAE
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