Policyholders will get 30 days free look period
If a customer asks for a hard copy, then companies have to send it to him.
In view of the increasing outbreak of Corona virus and the ongoing lockdown, the Insurance Regulatory and Development Authority (IRDA) has allowed life insurance companies to issue insurance policies ie e-policies electronically. IRDA issued a circular stating that this exemption would be valid for all insurance policies issued during 2020-21.
You can also return the policy in the free look period,
after getting the e-policy, if the customer is not satisfied with this policy, then it can be returned during the free look period. According to IRDA, it is mandatory for life and health insurance companies to give 30 days free look period to policyholders.
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According to IRDA, if a customer wants to take a hard copy , if a customer demands a hard copy or document, then companies have to send it to him. IRDA has also allowed life insurance companies to send their investment returns electronically every quarter.
Irda had warned people in the
past, Irda had warned people about cheating and cheating. IRDA had asked insurance companies or registered agents to take insurance policy only. According to IRDA, many people are cheating people by making themselves agents of the insurance company. That is why it is very important to be careful with them.
