With the new surrender value norms effective from Tuesday, most life insurance companies are immediately rolling out revised versions of their best-selling, non-participating products.
These contribute a significant portion to their overall premiums, in line with the Irdai Product Regulations 2024. The remaining products in their portfolios will be rolled out in due course, with a target completion by December, industry insiders suggested.
In June this year, insurance regulator Insurance Regulatory and Development Authority of India (Irdai) issued a ‘Master Circular on Life Insurance Products.’ Here, it introduced norms to ensure better payouts for customers who exit
Leave a Reply