Health Insurance September 16, 2021

The Insurance Regulatory and Development Authority of India (IRDAI) has extended the paperless health insurance issuance till March 31, 2022. The norm was introduced on September 10, 2020, by the IRDAI to provide policyholders hassle-free access to health insurance. Due to the pandemic, customers are unable to reach out to the insurer and buy their desired plans. Keeping in mind the same, the IRDAI has allowed health and general insurance companies to get the consent of the customers through electronic or digital mode. Read this article and learn more about the extension of paperless health insurance policies.

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When Did the Paperless Health Insurance Policy Start?

Health insurance and general insurance companies started getting consent through electronic or digital mode on September 10, 2020, as per the IRDAI regulations. Through this, customers get an alternative mode to buy health insurance policies.

Why is the Extension Necessary?

The IRDAI made the latest extension on September 14, 2021, because of COVID. Earlier, the validity of paperless health insurance was till March 31, 2021, but due to the second wave of the pandemic, the IRDAI extended it till September 30, 2021. As per the earlier circular dated 10th September 2020 –

  • Issuance of electronic policies
  • Dispatch of the policy with physical signatures and wet signature on the proposal form

are now extended up to 31st March 2022.

How is Paperless Health Insurance Issued?

You can apply for health insurance online by visiting the official website of the insurer, which will send the policy document and the proposal form through digital/electronic mode. The insurer will receive consent from you through digital or electronic mode. You’ll receive a link on your registered mobile or email by clicking on it. You can confirm the policy by following the link or by entering a One-time Password (OTP). The company informs you about the dispatch of the policy and proposal form through SMS or any other digital/electronic mode.

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