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IRDAI wants insurance policies issued in demat format

IRDAI wants insurance policies issued in demat format

Tuesday, March 28, 2017, 9:53 AM

The Insurance Regulatory and Development Authority of India is planning to ask life insurers to issue policies only in a dematerialized (demat) format beyond a specified threshold premium. This rule will be made applicable to all insurance contracts, both for existing and new customers. IRDAI has been trying to get insurance policies under demat format since 2013, but LIC has always resisted the move.
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