Health insurance policies could soon become easier to understand. The insurance regulator has proposed to standardise and simplify policy wordings of standard health indemnity plans. By doing this, the Insurance Regulatory and Development Authority of India (IRDAI) wants to bring in uniformity and transparency in policy contracts.
According to IRDAI's draft proposal, released on January 10, "The objective of the guidelines on 'Standardization of General Clauses in Health Insurance Polic ..