The Insurance Regulatory and Development Authority of India, on Wednesday (April 13) issued a notice warning people against buying health insurance from unauthorized and unregistered platforms.
The IRDAI pointed out that the policies offered by Even Health aren’t health insurance plans. They are not health insurance plans as they are not registered with the IRDAI.
The notice issued by IRDAI noted that the entity named ‘Even Healthcare Pvt Ltd’, which runs a website www.even.in is offering health plans, which are not health insurance plans.
“…the said entity is not a registered entity with Irdai. Public subscribing to these plans of ‘Even Healthcare Pvt Ltd’ is advised to note that they are dealing at their own risk,” IRDAI said in its circular.
“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 regulator added.
IRDAI has a list of health insurance companies that are registered with them. The list is available on their official website, check here.
EVEN offers membership of Rs 525 per month and claims to offer unlimited consultations and diagnostics with its membership along with Rs 50 lakh health cover.
Even.in is backed by Khosla Ventures, Peter Thiel-led Founders Fund, Palo Alto Networks CEO Nikesh Arora, Cred chief Kunal Shah, and Zerodha co-founder Nithin Kamath, among others.