Section 5 in Insurance Regulatory and Development Authority of India (Health Insurance) Regulations, 2016
5. Withdrawal of Health Insurance Product.
- i. Withdrawal of a health insurance product by Life Insurers, General Insurers and Health Insurers shall be subject to the Guidelines specified by the Authority.ii. With regard to specific withdrawal of indemnity based health products offered by life insurers pursuant to the provisions of Regulation 3 (b) of these Regulations, the product shall be closed by giving a prospective date of closure not later than three months from the date of notification of these Regulations. For existing policyholders, the policy shall continue until the expiry of the respective policy term.
