💨 Abstract

The Insurance Regulatory and Development Authority of India (Irdai) has capped the annual increase in health insurance premiums for senior citizens (60 years and above) at 10%. This move comes after a steep rise in premium rates for some health insurance products for senior citizens. Irdai has also mandated that insurers must consult with the regulator if the proposed premium increase for senior citizens is more than 10%.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖