LIC to stop selling 34 life insurance policies in December 2013
Life Insurance Corporation (LIC) has decided to stop selling as many as 34 policies,
Jeevan Anand,
Jeevan Madhur
Jeevan Saral, to comply with new regulatory guidelines,Jeevan Amrit from December 7, Jeevan Surabhi from December 14 while two other schemes from December 21 and December 28 respectively.
Remaining 28 policies will go off LIC's shelves from December 31.
Senior LIC official said--
These policies are withdrawn in December as they are not in conformity with the provisions of new regulations on non-linked insurance products, linked insurance products and health insurance products,
Last month, LIC had withdrawn 14 policies including Convertible Term Assurance, Children Deferred Endowment Assurance.
The Insurance Regulatory and Development Authority (IRDA) had extended the deadline for implementation of new individual product regulations for the life insurance industry by three months to December 31.
Life Insurance Corporation (LIC) has decided to stop selling as many as 34 policies,
Jeevan Anand,
Jeevan Madhur
Jeevan Saral, to comply with new regulatory guidelines,Jeevan Amrit from December 7, Jeevan Surabhi from December 14 while two other schemes from December 21 and December 28 respectively.
Remaining 28 policies will go off LIC's shelves from December 31.
Senior LIC official said--
These policies are withdrawn in December as they are not in conformity with the provisions of new regulations on non-linked insurance products, linked insurance products and health insurance products,
Last month, LIC had withdrawn 14 policies including Convertible Term Assurance, Children Deferred Endowment Assurance.
The Insurance Regulatory and Development Authority (IRDA) had extended the deadline for implementation of new individual product regulations for the life insurance industry by three months to December 31.
No comments:
Post a Comment