News From Press Insurance companies to offer a standard term life insurance from January 1

Insurance companies to offer a standard term life insurance from January 1

IRDAI had asked all the life insurance companies to file the product with the IRDAI latest by December 31 this year.

Mint Dec 29, 2020

IRDAI, in October had directed all the life insurance companies to mandatorily come out with a standard, individual term life insurance policy called 'Saral Jeevan Bima' from January 1, 2021. Following the guidelines, insurance companies will start to offer the standard term life insurance in the new year. IRDAI had asked all the life insurance companies to file the product with the IRDAI latest by December 31 this year.

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