News From Press IRDAI may relax rules for pension plans & ulips, make surrenders easy

IRDAI may relax rules for pension plans & ulips, make surrenders easy

Now, minimum sum assured on death can be seven times the annualised premium.

Economic Times Jul 17, 2019

The Insurance Regulatory and Development Authority of India (Irdai) Monday released final product guidelines for both traditional and unit linked insurance products to improve the product proposition. It has relaxed rules governing pension products, Ulips and traditional plans by easing the surrender and annuity norms.

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