Question

According to IRDAI guidelines, what is the mandatory requirement for renewability of health insurance policies?

a.

Lifetime guaranteed renewal, except on grounds of fraud and misrepresentation

b.

Renewability up to the age of 70 for all health insurance policies

c.

Annual renewal based on policyholder's health status

d.

Renewal only upon payment of an additional fee

Answer: (a).Lifetime guaranteed renewal, except on grounds of fraud and misrepresentation Explanation:IRDAI guidelines make lifetime guaranteed renewal of health insurance policies compulsory, except on grounds of fraud and misrepresentation.

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Q. According to IRDAI guidelines, what is the mandatory requirement for renewability of health insurance policies?

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