Tax alert: Insurance Regulator releases new guidelines for health insurance products


4 June 2024
The Insurance Regulatory and Development Authority of India (IRDAI) on 29 May 2024 released a Master Circular(IRDAI/HLT/CIR/PRO/84/5/ 2024) on health insurance products with the objective to rationalise operations of health insurance policies and empower policy holders, besides simplifying the entire process. This Master Circular has been issued under Section 14(2)(e) of the IRDAI Act 1999 and Section 34 of the Insurance Act, 1938, read with Regulation 7 of schedule-III of IRDAI (Insurance Products) Regulations 2024.

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