With the Insurance Regulatory and Development Authority (Irdai) asking life insurers to withdraw indemnity-based health products, the overall health business is expected see a drop.
Irdai had said a life insurer could not offer indemnity-based products in individual or group segments.
The chief executive of a mid-size life insurance company said the sector was in the process of withdrawing plans. "Until new plans are launched in the health segment, premium collections from this will see a drop," the official said.
