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Irdai Warns Against Buying Health Insurance Plans From This Unregistered Website

Irdai allows only registered insurance companies or their appointed agents, and intermediaries to sell insurance products
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On April 13, 2022, the Insurance Regulatory and Development Authority of India (Irdai) issued a notice in public interest warning against buying health insurance policies from an unauthorised, unregistered website www.even.in. The name of the entity is “Even Healthcare Pvt Ltd”.

The regulator further clarified that the policies offered by Even Health are not health insurance plans, and the said entity is not registered with Irdai.

The public notice issued by Irdai via circular said, “It has come to the notice of Irdai that an entity named “Even Healthcare Pvt Ltd“, which has a corporate office at ‘No.311,6th Main Road, HAL 2nd Stage, Indira Nagar, Bengaluru, Karnataka- 560038’, and a website www.even.in, is offering health plans. It is to inform the public that the plans offered by Even Health are not health insurance plans, and the said entity is not a registered entity with Irdai. Public subscribing to these plans of “Even Healthcare Pvt Ltd“ are advised to note that they are dealing at their own risk.”

It is clarified that only Irdai registered insurance companies or their appointed insurance agents and insurance intermediaries can sell insurance products. The public is hereby advised to exercise caution while dealing with unregulated entities and to avail of health insurance products and services from Irdai registered insurance companies, the insurance regulator said.

The list of insurance companies registered with Irdai may be accessed at https://www.irdai.gov.in/ADMINCMS/cms/NormalData_Layout.aspx?page=PageNo264&mid=3.2.10“, said the regulator.

From time to time, the regulator issues notices in public interest warning the public not to buy health and life insurance policies from fake or unregistered websites. Moreover, to protect consumers’ interest against spurious calls and fraudulent offers, Irdai also asked life insurers to flash public notice prominently on their websites. At the same time, TV commercials need to run the message for at least 5 seconds of space.

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