In a strong effort to increase transparency and curb mis-selling of life insurance policies, IRDAI has directed insurers to: mandatorily issue benefit illustrations based on two different assumed rates of return as per a prescribed format; get these signed by the policy holder and agent/insurer; make these a part of the policy; write a warning-type advisory/alert about the non-guaranteed portion of the returns and ensure that all terms and conditions are displayed on main screen in case of digit ..
Nine big financial changes that you must watch out for in October
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