Prices Increasing Soon
Insurance Regulatory and Development Authority (Irda) on Wednesday said insurance companies will be required to display information about any unclaimed amount above Rs 1,000 on their respective websites. Policyholders would be given an option in the insurer's website to check whether any amount of theirs is lying due and with the insurance company.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
By clicking on "View plans" you agree to our Privacy Policy and Terms of use
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
For this, the policyholder would be required to enter their PAN details, policy number, name and date of birth.
While a circular on this issue was issued in February 2014, following representation from insurance bodies, the regulator has made some amendments.
Insurers will be needed to provide this information as of December 31, 2014 by January 31, 2015. Subsequently, this will be uploaded on a half-yearly basis as on March 31 and September 30, by April 30 and October 31 respectively.
For new insurance policies, companies will have to bank details of insured in the proposal form. However, this is not applicable to term insurance (without return of premium), insurance policies with annualised premium up to Rs 25000 and those with bank accounts not linked to RBI Core Banking Solutions.
This circular comes into force from October 1, 2014.
(Original Source - http://www.business-standard.com/article/finance/irda-asks-insurers-to-display-unclaimed-amount-info-of-above-rs-1-000-114082001211_1.html)
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Life insurance fraud is a financial crime that can be committed
Read more
High net worth individuals often opt for life insurance plans to
Read more
“Policy Bazaar insurance clarified the term policy for me, so
Read more
“I recently bought an HDFC term plan and it is the best
Read more
The life insurance policy in India is a type of life insurance
Read moreInsurance
Calculators
Payment Methods
Secured With
Follow us on
