Health insurance premiums can be reduced if you don’t make a claim, policy cancellations to be less costly and more: 5 rule changes

Health insurance is set to become more customer-friendly with five major IRDAI rule changes: premiums can now be reduced if you don’t make a claim, thanks to options like premium discounts or increased sum insured at renewal. Policy cancellations are less costly, with pro-rata refunds and a shorter seven-day notice period. Claims cannot be rejected without approval from a Claims Review Committee, making the process more transparent. The waiting period for pre-existing diseases is reduced from four to three years, and the free-look period to review and return policies is now 30 days. These changes aim to boost flexibility, transparency, and inclusivity for policyholders