Health insurance companies will not be allowed to contest claims once the premium has been paid for a continuous period of eight years, regulator Irdai said in a fresh set of guidelines.
Irdai said the objective of the guidelines is to standardise the general terms and clauses incorporated in indemnity based health insurance (excluding personal accident and domestic/overseas travel) products by simplifying the wordings of general terms and clauses of the policy contracts and ensure uniformity across the industry.
