Will IRDAI's recent decision to reduce the waiting period for pre-existing diseases in health insurance lead to higher premiums for customers? Likely, says Rakesh Kaul, Chief Business Officer of SBI General Insurance.
It may be noted here that the regulator has cut the said waiting period from four years to three, starting from April 2024. Irdai's guidelines, effective from April 2024, mandate that insurers cannot reject any claim based on the pre-existence of an ailment three years after policy issuance.
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