IRDAI REMOVES AGE BAR FOR PURCHASING HEALTH INSURANCE

• The Insurance Regulatory and Development Authority of India (IRDAI) has removed the age limit for purchasing health insurance policies, with effect from April 1.
• Earlier, there was an age limit of 65 years to buy new health insurance policies. The IRDAI’s latest move is aimed at bringing in extended health benefits to senior citizens.
• The move will enhance the accessibility and affordability of healthcare coverage across all age groups.

ABOUT IRDAI: –

• The IRDAI is an autonomous and statutory body responsible for managing and regulating India’s insurance and reinsurance industry.
• Nodal Ministry: – Ministry of finance.
• Composition: – 10 Member body, five full-time and four part-time members appointed by the government of India.
• Chairperson: – Debasish Panda
• Headquarter: – Hyderabad