•New 5-year moratorium rule limits claim rejections based on non-disclosure of medical information after a policy runs for five continuous years, unless fraud is proven.
•Shilpa Arora, COO of Insurance Samadhan, explains this IRDAI guideline strengthens consumer protection and reduces disputes in life and health insurance.
•Policyholders can challenge denied claims via insurer's grievance department, Integrated Grievance Management System, Insurance Ombudsman, or consumer courts.
•Digital buying risks include overlooking policy details like exclusions and waiting periods, leading to claim issues.
•Errors in applications or mis-selling by banks can be addressed by notifying insurers, seeking corrections, or filing complaints with IRDAI or Ombudsman.
