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Question: What is the new plan of IRDA for entry based pricing for insurance premium?

Answer: Currently premium is based on the age of the policyholder and does not matter if it is the first health policy of the applicant. As per the new guideline proposals, if two people of the same age buy a health policy at the same time, an individual who has already had a health policy should be charged a lower premium compared to the other person applying for the health plan for the first time.



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Question: What is the new plan of IRDA for entry based pricing for insurance premium?
Answer:

Currently premium is based on the age of the policyholder and does not matter if it is the first health policy of the applicant. As per the new guideline proposals, if two people of the same age buy a health policy at the same time, an individual who has already had a health policy should be charged a lower premium compared to the other person applying for the health plan for the first time. Source: CoolInterview.com



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