The Insurance Regulatory and Development Authority of India (IRDAI) on June 12, 2024, issued the Master Circular on Life Insurance Products.
The following has been stated namely: -
• This Master Circular provides necessary guidance on aspects pertaining to various provisions of the Insurance Regulatory and Development Authority of India (Insurance Products) Regulations, 2024, and applicable to all life insurers, unless otherwise specified.
• The General Information for the Policyholder/Prospect/Customer has been stated
• The Product Governance Framework has been stated
• The Modifications permitted to withdrawn life insurance products
[Notification No. IRDAI/ACTL/MSTCIR/MISC/89/6/2024]
