here . It has also allowed both life and non-life companies to offer optional defined benefit plans and other short-term health insurance plans—you can read more about it here and here.Irdai’s rationale seems to ensure more people are insured for covid-19-related medical expenses at an affordable rate, but this line of thinking has one serious flaw.
It induces short-term behaviour for a long-term problem that is health. Health insurance is a long-term product that needs to be renewed year after year, and for a host of health problems or accidents lurking in the future.A short-term covid-19 product provides answers to the visible and relatively short-term threat of the pandemic, but it does little to encourage the onboarding of people to.