'Material change' clause will not affect health insurance premiums or coverage, says ICICI Lombard

ICICI Lombard General Insurance has clarified that the 'Material Change' Clause in its health insurance policies will not lead to higher premiums or changes in coverage if a policyholder develops a new illness after purchasing the policy.

The clarification follows concerns raised on social media and by consumer groups about the interpretation of the clause in plans such as Elevate and Health AdvantEdge.

The insurer said the clause is meant to recognise positive health changes — such as improved health parameters — which could allow for lower premiums or wellness-related benefits.

“The material change clause does not mean your premiums or coverage will go up if you develop a new illness after your policy starts. ICICI Lombard follows all IRDAI rules and industry standards,” the company s