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IRDAI has asked insurance companies to provide health cover to babies and infants born with internal congenital diseases, genetic diseases and disorders from day 1.
These disorders include conditions like cleft lip and cleft palate and a hole in the heart.
The market regulator has observed that many companies have been excluding new born babies with such disorders. IRDAI said such exclusions are against the true spirit of insurance.
IRDAI said, “It is reiterated that all insurance products that cover newborns/unborns shall comply with the above referred provisions without any deviation and provide, coverage from day one without imposing any waiting periods/sub-limits or any other restrictive conditions.”
In another circular, IRDAI has asked insurers to provide health cover to persons suffering with mental illness. The market regulator has asked insurers to comply with Mental Health Care Act, 2017 with immediate effect and put in place underwriting policy for such policyholders.
IRDAI said, “It is reiterated that all insurance products shall cover mental illness and comply with the provisions of the MHC Act, 2017 without any deviation.”