IRDAI circular · 29 Dec 2020
~lxd1ll ~ ruf.1t11l-lct5Jffi ruct51~ ~ INSURANCE REGULATORY AND ir.ta'i DEVELOPMENT AUTHORITY OF INDIA Ref: I RDAI/Life/Cir/M ISC/ 3 0 ']_/12/2020 291h Dec 2020 This has reference to the Master Circular on Point of Sales Products and Persons - Life Insurance Ref: IRDAI/Life/Cir/MISC/215/12/2019 dated 2nd December 2019.…
~lxd1ll ~ ruf.1t11l-lct5Jffi ruct51~ ~ INSURANCE REGULATORY AND ir.ta'i DEVELOPMENT AUTHORITY OF INDIA Ref: I RDAI/Life/Cir/M ISC/ 3 0 ']_/12/2020 291h Dec 2020 This has reference to the Master Circular on Point of Sales Products and Persons - Life Insurance Ref: IRDAI/Life/Cir/MISC/215/12/2019 dated 2nd December 2019. On consideration of representations received from Life Insurers, the following relaxations/modifications are allowed with immediate effect. 1. Annexure II (a) - Pure term Insurance with or without Return of Premium: Underwriting conditions ExistinQ Provision Modified Provision Only Non-Medical Underwriting As per the board approved underwriting policy of the Life Insurer 2. Annexure II (b) - Non-Linked, Non-Participating Endowment Product: Maximum Sum Assured Limit on a single Life Existing Provision Modified Provision Rs 10 lakhs( excluding ADB) at insurer Rs 25 lakhs(excluding ADB) at insurer level (per insurer) level (per insurer) a G> "' ~Z-f0~'f1::!~ " Chief General Manag~ Life Insurance) ~,r. 115/1, ~ ~. i1Mifi(lll1isl, ~ -500 032, 1TT{n I Survey No. 115/1, Financial District, Nanak,:amgucla, Hydera~ad~ 032, India ~: +91-40-20204000 ~: www.lrdai.gov.in ~ : +91-40-20204000 Website : www.irda1.gov.in
