Irdai moves towards changes to protect policyholder interest
Thu, Feb 15, 2024 11:12 AM

Irdai moves towards changes to protect policyholder interest

A Flip by Shubhangi Gupta
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IRDAI proposes changes to extend the free look period for life and health insurance policies to 30 days, up from the current 15 days for policies sold physically. This allows policyholders to review and cancel their policies without incurring surrender charges within a specified time. The draft regulations also aim to reduce compliance burdens for insurers.

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