Tag: insurance sector

The Insurance Regulatory and Development Authority of India (IRDAI) introduced new measures allowing more choices and benefits for policyholders with withdrawn life insurance products. Effective immediately, the new rules apply to products which are no longer available for sale but still have existing policies serviced by insurers.  As per the new provisions, insurance companies can offer new riders to the existing policyholders of withdrawn products.  As part of flexible payments, the option to change the premium paying mode can also be provided.A reduction in interest rates for policy revivals and...