health insurance policies, the recent buying pattern on Policybazaar.com, an online marketplace for insurance, shows.The monthly premium option was introduced by the Insurance Regulatory and Development Authority of India (Irdai) in April to provide relief from steep one-time premium payouts after covid-19 struck.
The regulator asked all health insurers to introduce the instalment facility immediately either on a permanent basis or as a temporary relief for a period of 12 months till 31 March 2021.