Now with every calorie your clients burn, they will get a discount on the next health insurance premium. Sounds interesting, right.
In the latest guidelines on wellness and preventive features/benefits, IRDAI has allowed health insurers to offer discount on renewal premium or extend benefits through redeemable vouchers if policyholders maintain good health.
Benefits through vouchers can be redeemed for OPD treatments, medicines, health check-ups, protein supplements and gym memberships, clarified IRDAI. However, insurance companies cannot receive any consideration from companies for offerings such vouchers.
In case of family floater plans, insurers will have to offer such benefits to the entire family.
Further, health insurers are required to disclose all benefits and discounts upfront to the policyholder. Also, information gathered during the process of offering the wellness benefits should be kept confidential and cannot be used for purposes other than what it is meant for.
Finally, IRDAI has the right to reject wellness features proposed by the insurer if they are against policyholders’ interests and are not in line with fair market conduct, added the insurance regulator.
These benefits can be introduced from immediate effect.