Oct 22, 2013

India begins Life insurance policy for HIV/AIDS patients

Insurance regulator in India has issued draft guidelines
seeking views and comments from insurers on issuing life cover policies to persons with HIV/AIDS.
The draft circular by the Insurance Regulatory and Development Authority ( IRDA) on policies may come into effect from April 2014.
Insurers are expected to put in place a board-approved underwriting manual, claims manual, proposal form and other necessary systems before this date.
A vast majority of those afflicted in India are in the age bracket of 15 to 49 years. As per estimates, about 2.4 million Indians are living with HIV/AIDS. Children less than 15 years account for 3.5% of it while 83% are in the age group of 15-49 years.

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