New Changes Brought By IRDAI – Economic Curren Affairs- Free PDF

CURRENT AFFAIR

• IRDAI has brought changes to some of the key norms pertaining to life insurance products.

CHANGES

• Minimum death benefit in the non-linked policy decreased from 10 to 7 times
• Policyholders will get a fixed amount if Policy is surrendered after 2 years
• Revival period increased from 2 to 5 years.

 UNIT LINKED POLICIES

• If during the first five years it has a surrender value, it will become payable only when the lock in period is completed
• In non-linked Policy, if the policy is surrendered after 2 years, the policy holders will get a fixed amount.
• Emergency- 25%

Latest Burning Issues | Free PDF

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