IRDAI creates colour codes for health insurance policies

The Insurance Regulatory Authority of India (IRDAI) is introducing a colour code for health insurance policies. Such an initiative enables the insured to understand the level of complexity of a contract when underwriting a health product using three colours: green, orange and red.

This will help reduce sales errors and improves the transparency of the health insurance market.

The colour code is applied only to individual health products.

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