Tuesday, November 6, 2007

IRDA Committee on health insurance of senior citizens submits report

Yes ,it is submitted.

Recommendations are;

IRDA to mandate all insurers to give health insurance to all senior citizens.

Insurers to offer variety of plans

Income tax cconcessions to be made progressive.

Policies to be made portable.

Insurers to offer plans based on healthy ageing.

Market size of senior citizens by 2010 will be 173 millions.

1 comment:

R K Chandra said...

The definaition of Senior Citizen eligible for the benefits, by virtue of age are not uniformly demarcated in our country and seem to be not properly viewed in the context of societal changes taking place.
The Railways consider an individual as a Senior Citizen if he/she has superannuated on attaining the age of 60 years,( although it is different in different States/PSU's/Companies, as per his/her recorded Date of Birth, verifiable from an Identity card of the like or a driving licence etc. but not for the spouse (he/She) thus getting deprived of enjoying the company of a life long partner, at a time when they need to be together, particularly when we know that the joint families are not to be seen anymore and there is no body to take care of the other spouse, when a travel becomes compulsory. Will the Railwy's take a look into this aspect?
The Pnublic Sector Commercial banks also consider a person as a Senior Citizen, irrespective of Gender difference, eligible to earn higher rate of interest on the Fixed deposits held in single name or in joint names with the spouse but not on Savings Bank deposits. I think this may please be looked into by the R.B.I. or Banking Depptt. under Finance Ministry. Now when it comes to Income Tax the age is taken as 65 years. THe Ministry of social justice must do something.