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Why Life Insurers Will Be Cautious While Selling New Standard Term Policy
The IRDAI has directed all life insurers to launch a standard term insurance plan, Saral Jeevan Bima, effective Jan. 1, 2021.
07 Dec 2020, 02:20 PM IST
Life insurers don’t expect aggressive pricing for standard term plans that the regulator asked them to offer as they wait to assess the risks amid limited reinsurance support.The Insurance Regulatory Development Authority of India, in its October circular, directed all life insurers to launch a standard term insurance plan, Saral Jeevan Bima, effective Jan. 1, 2021, to reduce complexity and help customers make an informed choice. The...
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