News > IRDAI Allows Life Insurance To Issue Policies Digitally
IRDAI Allows Life Insurance To Issue Policies Digitally
Good Returns | 05/08/2020 12:30 PM | Click to read full article
Given the current pandemic situation when usual business activity has come to a halt, the insurance regulator on August 4 allowed insurance companies to offer life insurance policies electronically.
The IRDAI has released a circular exempting entities in the space from issuing policy documents and copy of proposal form in physical form, subject to certain conditions. For these policies also there will be a free-look of 30 days during which the policyholder can request suspension of the policy.