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Health Insurance: No more wait more than three years for treatment of chronic diseases, new rule implemented
Health Insurance: As per IRDAI, health insurance covers the diseases or treatments mentioned above (except those caused by accident) for 36 months from the inception of the policy.
A major change has been made in health insurance. Under this, policyholders will no longer have to wait more than 36 months for treatment of chronic diseases. Earlier the waiting period for treatment of these diseases was 48 months. The new rule is effective from April 1, 2024.
Any pre-existing disease (PED) must be evaluated by a doctor 36 months prior to the start date of the health insurance policy issued by the health insurance company, or in accordance with medical advice, according to a recent notification from the Insurance Regulatory and Development Authority (IRDAI). Should treatment be advised, there will be no more waiting period than 36 months in these situations.
According to IRDAI, the indicated illnesses or therapies administered within the first 36 months of the health insurance policy's initiation (apart from those resulting from accidents) are not covered. After the policy's term has expired, these illnesses or treatments will be paid for, provided that renewals have occurred continuously and without interruption.
