Starting next year, policyholders can expect these changes in their insurance policies
The insurance regulator has directed insurers to send updated customer information sheet (CIS) to policyholders in order to promote transparency. The revised format is meant to be implemented from Jan 1 onwards
At the time of buying an insurance policy, customers tend to face some confusion with regards to understanding features and other terms & conditions. As a result, policyholders skip reading the entire document since it is too esoteric for a guy-next-door or a girl-next-door.