For the convenience of the senior citizens, the General Insurance Council is working on portable medical insurance product for senior citizens. 

Once the scheme is finalized, insurance companies would file the draft scheme with Insurance Regulatory and Development Authority, as required by the File and Use procedure of Irda. 

This council consists of chairman cum managing directors or chief executive officers of general insurance firms.

Minister of state for finance Pawan Kumar Bansal said, “The General Insurance Council is in the process of developing a health insurance policy for senior citizens that would be standard across all insurers and therefore portable. The policy is to be finalised shortly.”