New Delhi: To control mis-selling of health insurance policies, the Insurance Regulatory and Development Authority (Irda) issued a circular on Wednesday saying all health insurance policies of three years or more should give the insured a period of 15 days from the date of receipt of the documents to review the terms and conditions of the policy.
It also said that if the insured disagrees he can cancel the policy within the period. The circular also states that an insurer can voluntarily extend this option for the policies less than three years, too. The circular is effective from 1 October.