Question : MEDICAL INSURANCE FOR SENIOR CITIZENS

(a) whether Public Sector Insurance Companies propose to exclude persons above 55 years of age from the purview of mediclaim Insurance cover as reported in the Times of India dated the July 19, 2006 ;

(b) if so, the facts of the matter reported therein;

(c) whether ihe Government proposes to issue suitable directions to Insurance Regulatory & Development Authority and Insurance Companies in this regard;

(d) if so, the details thereof;

(e) the existing norms for medical insurance for senior citizens;

(f) whether agent commission on policy sales to senior citizen has been reduced by public sector insurance companies, and

(g) if so, the details thereof ?

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PAW AN KUMAR BANSAL)

(a)&(b): There is no move by the Public Sector General Insurance Companies to exclude persons above 55 years of age from mediclaim insurance,

(c)&(d) : Do not arise.

(e): Mediclaim proposals from persons above the age of 45 years are accepted subject to satisfactory medical examination. The mediclaim policy can be taken by individuals upto the age of 80 years. However, if the policy is renewed without any break, the same can be continued upto the age of 90 years.

(f)&(g): Keeping in view the high insurance claim experience in respect of the senior citizens, the Oriental Insurance Company Limited has issued guidelines removing the incentive of agency commission to agents canvassing mediclaim proposals from persons above 55 years of age. However, persons above the age of 55 years can get insurance policy directly from the underwriting offices of the company without the involvement of agents.