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IRDAI has given approval to 19 innovative health insurance products that will cater to the definite needs of customers. These are need-based health insurance, friend assurance, wearable health devices, short-term health insurance, payment over reward points, app-based healthcare and more. The individual premium will be lower compared with an ordinary policy. Insurers will launch the products for the six months between February to July 2020, following which they will submit their performance analysis based on a set of success parameters specified by the regulator.