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Senior citizens can buy health insurance till 65 years of age
You aren’t too old to get insurance cover, if you haven’t crossed 65 years of age yet. According to the new direction of the Insurance Regulatory and Development Authority (IRDA), you can still buy insurance cover and insurance companies cannot deny you health insurance cover saying that you are too old.

The IRDA has directed the insurance companies to not to refuse health/medical insurance cover to the senior citizens at least till 65 years of age. The IRDA has communicated to the chief executive officers of all general insurance companies that “all health insurance products filed hereafter must allow entry at least till 65 years of age.”

The IRDA has also notified that the insurance companies will have to give reasons in writing for refusing health insurance to any senior citizen, and the reasons should be strong enough to “stand scrutiny of reasonableness and fairness”.

The IRDA has also directed that the insurance companies should charge “fair, justified, transparent and duly disclosed upfront” premium for health insurance products, from senior citizens. The insurance regulator has advised the insurance companies to invent a plan to reward policyholders for early entry and continued renewals with the same insurers.

The IRDA communicated that the insurance companies will reimburse at least 50 per cent of the cost incurred by the insured in pre-insurance medical examination, in cases where the risk is accepted. The IRDA said, "This circular shall take effect for all policies issued or renewed on or after July 1, 2009.”
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