May 30, 2024
  • 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
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