Index-linked insurance products may make a comeback3 min read . Updated: 02 Sep 2020, 02:37 PM IST
- Irdai has formed a committee, which will examine the index-linked products that were available in the past in terms of product structure, ease of customer understanding, administrative processes and sales, among other issues.
The Insurance Regulatory and Development Authority of India (Irdai) on Tuesday published a circular stating the formation of a working group to examine various aspects of index-linked insurance products (ILIPs) that may be offered by life insurers. This is not the first time life insurers are looking at offering such products. Before 2013—the year in which the regulator banned insurers from selling ILIPs—insurers went aggressive on these policies and the category gained traction between the mid to late 2000s.
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