Aids patients to pay higher insurance premium: IRDA

The Insurance Regulatory and Development Authority (IRDA) circular requiring insurance companies to provide insurance cover to people with HIV/Aids is likely to come into effect from April 2014.

IRDA Chairman T S Vijayan said a few insurers have already introduced cover for HIV/Aids  infected patients. “I am sure more companies will bring policies,” he told reporters here on Friday after a Ficci event.

 Insurers would be required to put in place procedures for underwriting and claim settlement, and proposal form before that. Persons suffering from HIV/Aids or other pre-existing illness will have to pay higher premium for life insurance, Vijayan said.

He said insurance companies will provide life cover to persons with pre-existing illness, but the pricing will be based on commercial considerations.

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