Policies for differently abled, HIV positive and people with mental illness are reality now

IRDAI has asked general and health insurance companies to immediately launch health insurance policies for differently abled persons, people who are HIV positive or infected with AIDS and people suffering from mental illness.

While there has been a provision to issue policies to these individuals, insurance companies are reluctant to offer to people with special needs owing to high risk.

IRDAI said, “Every general and stand-alone health insurer, who has been issued a certificate of registration to transact general and/or health insurance business, shall mandatorily launch and offer their respective product immediately.”

In addition, IRDAI has asked insurance companies – non-life and health insurers to disclose their underwriting practices with respect to treatment with health policies to differently abled persons, HIV positive people and people infected with AIDS and people suffering from mental illness.

Here are some key features of the policy for differently abled, HIV positive and people with mental illness:

• The policy has to be issued for one-year subject to renewal for lifetime
• While insurers can determine the premium on their own, it has to be in line with the health insurance regulations
• Standard policy features will be in line with existing policies