News From Press Your Money: Irdai moots lifelong renewal of personal accident policy

Your Money: Irdai moots lifelong renewal of personal accident policy

Source: Financial Express Mar 1, 2022

All personal accident policies will be renewed lifelong, insurers will have to obtain the entire claim history for portability and are encouraged to give discounts on renewals if there is an improvement in the policyholder’s risk profile. These are part of the proposed comprehensive review of the health insurance regulation by the insurance regulator to protect the interest of policyholders.

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