News From Press Irdai proposes changes to policy revival norms; hikes surrender benefits

Irdai proposes changes to policy revival norms; hikes surrender benefits

Source: The Economic Times Oct 31, 2018

Insurance buyers are set to get substantial benefits, with the regulator proposing significant changes to revival of policies and enhancing guaranteed benefits while surrendering the cover ahead of maturity.

The regulator Irdai has proposed to enhance the revival period to five years from the current two years and introduced guaranteed surrender value after two years from three years earlier.

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