With fewer exclusions, will health insurance cost more?

The insurance regulator recently issued a draft on standardizing and rationalizing exclusions in health insurance policies. The draft seeks to redefine terms such as pre-existing ailment to remove ambiguity, seeks to include new lines of treatment due to medical advancement, besides making other customer-friendly recommendations such as giving insurers an eight-year moratorium after which a policy is not contestable except for proven fraud and permanent exclusions. Disha Sanghvi asks experts if such recommendations by Irdai will have the unintended consequence of making health policies costlier.

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