Health insurance: Mental illness to be treated on par with physical ailment

Health insurance in India is undergoing a major overhaul. Over the past month, the Insurance Regulatory and Development Authority of India (IRDAI) has come out with several guidelines to broaden the level of coverage that your health insurance policy offers, and make the product simpler. Health insurance products currently don’t take into account the severity of illness. Instead, the insured gets reimbursed only if he is hospitalised. “With technological advances, many procedures and treatments that required hospitalisation can now be accomplished through day care. The regula.....

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