IRDAI vide circular dated 29-12-2020 has issued Relaxations in Point of Sales. The modified underwriting conditions for Pure term Insurance with or without Return of Premium is as per the board approved underwriting policy of the Life Insurer. Modified maximum Sum Assured Limit on a single Life for a Non-Linked, Non-Participating Endowment Product is Rs. 25 lakhs(excluding ADB) at insurer level (per insurer).
Consultation paper on Maintenance of Record of Mandatory Communication by Regulated Entities
It is proposed that the regulated entities maybe mandated to maintain the record of all such communication, which are mandated to be communicated under the