Health Insurance Moratorium Cut to 5 Years: Secure Claims Earlier!

• IRDAI reduces health insurance moratorium from eight to five years, boosting policyholder protection.
• Policyholders with five years of continuous coverage are protected against claim rejections for non-disclosure, misrepresentation, or incorrect disclosure, except in proven fraud cases.
• This change offers three years earlier protection, with the period starting from the first policy issuance and continuity maintained even with porting or migration.
• The reform aims to build trust, especially among senior citizens, and improve persistency and penetration in India's health insurance market.
• Insurers are expected to use precise proposal forms and thorough pre-issuance risk assessments, leading to more efficient claims processing and reduced investigation times.