News From Press IRDAI new regulation on surrender charges decoded

IRDAI new regulation on surrender charges decoded

Source: ET Apr 2, 2024

The IRDAI has released new regulations related to surrender charges. The new regulations are significantly better than the exposure draft released in December 2023. The contours are broadly similar to the extant regulations. Other than single premium products, the policy shall acquire a guaranteed surrender value on payment of premium for at least two consecutive years.

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