India: Regulator issues draft for more liberal product regime

The insurance regulator IRDAI has released a draft paper, proposing regulations to standardise life insurance products - with several changes to the benefit of customers. In particular, insurers are to be given the freedom to offer a lower sum insured, a move which will increase the savings component in the insurance policy, leading to a higher return in exchange for a lower protection amount.

from Recent Posts on (eDaily) https://ift.tt/2JmuFE9