Saral Jeevan Beema for Bharat: Irdai introduces standard life product
National
- The Insurance Regulatory and Development Authority of India (Irdai) has mandated all life insurance companies to provide a standard individual term life insurance policy from January 1, 2020.
- According to Irdai, the standard individual term life insurance product will be called Saral Jeevan Bima with the insurer's name prefixed to the product name.
- This is standard health insurance policy for individuals which will have a sum assured of maximum Rs 25 lakh.
Source: The Economic Times
Related General Knowledge
Insurance Regulatory and Development Authority of India
- The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.
- Website: irdai.gov.in
- Founded: 1999
- Sector: Insurance
- Headquarters: Hyderabad
- Type: Statutory corporation
- Chairperson: Subhash Chandra Khuntia