Health insurance premiums cross ₹1.2 lakh crore in 2024-25; IRDAI cashless claim timelines: 1 hour and 3 hours
The Finance Ministry said on 26 March 2026 that health insurance premiums exceeded ₹1.2 lakh crore in 2024-25, growing about 9%, and that IRDAI requires cashless pre-authorisation within one hour and final authorisation within three hours.
Summary
India's health insurance sector is growing at around 9%, with total premiums exceeding ₹1.2 lakh crore in 2024-25, the Ministry of Finance said on 26 March 2026. To speed up claims, the Insurance Regulatory and Development Authority of India (IRDAI) has prescribed that cashless pre-authorisation be decided within one hour and final authorisation within three hours.
Key facts
- Premiums 2024-25
- Over ₹1.2 lakh crore
- Growth
- Around 9%
- Cashless pre-authorisation
- Within one hour (IRDAI)
- Final authorisation
- Within three hours (IRDAI)
Practice MCQs 3 questions
As per IRDAI's prescribed timelines, final authorisation of a cashless health insurance claim must be given within:
Show answer
Correct answer: A — Three hours
IRDAI prescribes cashless pre-authorisation within one hour and final authorisation within three hours.
Total health insurance premiums in India in 2024-25 exceeded:
Show answer
Correct answer: B — ₹1.2 lakh crore
Total health insurance premiums exceeded ₹1.2 lakh crore in 2024-25, growing at around 9%.
Under IRDAI's timelines, an insurer must decide on a request for cashless pre-authorisation within:
Show answer
Correct answer: D — One hour
IRDAI prescribes cashless pre-authorisation within one hour; final authorisation within three hours.