The Insurance Regulatory and Development Authority of India vide its notification 13th November 2020 has decided to offer a standard Vector-Borne Disease specific health insurance product to the public for the treatment of vector-borne diseases like dengue, malaria, and chikungunya.
The product shall be offered for a fixed term of one year with a waiting period of 15 days proposing to permit insurers to offer the product under Use and File procedure.
Further, the product will be made available at all health and general insurers once the guidelines are finalized and as per the draft norms, the product is being envisaged as an annual, single premium policy with optional riders.
IRDAI has requested the stakeholders to submit their comments on the draft norms by 27th November.
