"It depends on our experience because the new products have been filed from October 1," said Siddhartha Mohanty, managing director and chief executive officer.
The insurance regulator has revised the surrender value norms, and the revised ones came into effect on October 1. According to those, companies have been mandated to pay enhanced special surrender value (SSV) to policyholders after the completion of the first policy year if the customer has paid one full-year premium.
Previously, companies did not pay such an amount to customers surrendering their policies in the first year.
Denne historien er fra November 12, 2024-utgaven av Business Standard.
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Denne historien er fra November 12, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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