Insurance Regulatory and Development Authority of India (IRDA) has issued new guidelines related to health and safety scenarios. Under this, insurance companies can offer discount coupons to policyholders for health supplements or yoga centers. Not only this, but companies can also give reward points if they meet the prescribed qualifications.
You can get a discount coupon on a gym membership
In this context, IRDA stated in its circular that, 'In order to provide cheap health insurance, any health or safety feature should be designed by companies with the goal of promoting and maintaining good health among the people'. Under this program, insurance companies can offer discount coupons or redeemable vouchers to insured people when they purchase health supplements or subscribe to a yoga center, gym, sports club, or fitness center.
The feature can be offered as an option
According to the new guidelines, these features can be offered as an option in policy or as an addon (additional). It has also been clarified that it cannot be introduced by adding it to any insurance product or adding it as a benefit. The regulator has asked the insurance companies to assess the impact of these features on the cost of insurance and mention it clearly to the customer at the time of application.