Irda moots health cover for HIV/AIDS patients

People living with HIV/AIDS will come under the health insurance umbrella soon.

The Insurance Regulatory and Development Authority (Irda) has put out an exposure draft to ensure such people are not denied health insurance.

The discussion paper asks life, non-life and standalone health insurers to come out with products to cover people with HIV/AIDS. Insurers have to underwrite the policies in line with the guidelines specified.

All insurers need to send their feedback and comments to the regulator by the end of this month.

The new norms will take effect on October 1.

“Persons who are not yet showing AIDS symptoms but are in stage 1 or 2 of HIV infection and those who comply with the treatment protocol of the medication can avail of this cover,” said the circular.
Also, claims cannot be rejected for people who are negative at the outset and later on found positive.

Insurers are allowed to add this category under critical illness. Besides, it can be given as a rider by paying a lump sum on detection of the particular virus.

Industry officials welcomed the move.

“This is a positive step in the right direction,” said Mukesh Kumar, head HR, marketing & strategic planning, HDFC Ergo.

R Chandrasekaran, secretary general, General Insurance Council, concurred. “It gives an opportunity for players to explore the market in this direction,” he said.

Irda, in the exposure draft, has specified a set of eligibility criteria for underwriting such policies.

Industry experts feel the biggest challenge lies in pricing of these products as the industry is short of required data for analysis and research.  

Standalone health insurance companies refused to comment on the circular.