%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(10).png "A master circular on Protection of Policyholders' Interests 2024 has been issued by IRDAI")
- This circular aims to enhance transparency and efficiency in the insurance sector by consolidating various guidelines and regulations into a single document.
- Some key highlights include:
- Electronic Issuance of Policies: All insurance policies must now be issued electronically, although policyholders can request physical copies if preferred.
- Free Look Period: A 30-day free look period is applicable for life and health insurance policies, allowing policyholders to review the terms and conditions.
- Claim Settlement Timelines: The circular outlines specific timelines for claim settlements to ensure timely service.
- This initiative is designed to better inform policyholders about their rights and streamline the processes related to insurance policies.
Question:
1 Under the new IRDAI circular, what is the standard mode of issuing insurance policies?
- A) Electronically
- B) Physically
- C) By postal mail
- D) Via phone call
