Good news! IRDAI allows insurers to issue life insurance policies electronically
As certain operations remain closed in the wake of COVID-19, the Insurance Regulatory and Development Authority of India (IRDAI) has given a major relief to both insurance providers as well as subscribers. The IRDAI, on Tuesday, allowed life insurers to issue life insurance policies electronically.
The insurance regulator issued a circular exempting life insurance companies from the requirement of issuing policy document and copy of proposal form in physical form, subject to certain conditions. Source - PTI.