Those who are above 65 years of age, can also access health cover now. As part of the slew of reforms lined up in insurance, the Insurance Regulatory and Development Authority of India (IRDAI) has removed the upper age limit for health insurance policies which has been fixed at 65 years till now. 

“Insurers shall ensure that they offer health insurance products to cater to all age groups. Insurers may design products specifically for senior citizens, students, children, maternity and any other group as specified by the Competent Authority”, the regulator said in a notification. The changes in the product norms have been issued in a Gazette notification. 

The insurers, however, are free to design specific products for different age-groups with board approved terms and conditions. 

The norms have also been made more customer-friendly. The waiting period for covering pre-existing illnesses has also been brought down from 48 months to 36 month which can reduce the possibility of rejecting claims in the name of pre-existing conditions after 36 months.  Further, health insurers are only permitted to offer benefit-based policies specifying fixed costs. 


The removal of the upper age limit in health cover is expected to drive further growth in business. As of now, health insurance is leading the growth in the non-life insurance sector. According to provisional industry data, the health segment’s share in the non-life industry is 38 per cent in the year ended March 31, 2024 marking a 4 per cent increase over the previous year. The growth rate for FY24 was at 20 per cent.  

Health insurance premium also crossed the landmark of ₹1 lakh core as it closed the year at ₹1.09 lakh crore in FY24 out of a total non-life premium of ₹2.89 lakh crore. The non-life sector recorded a premium of ₹2.57 lakh crore in 2022-23.