All Insurance Companies are selling their policies online – IRDA
Online Sale of Insurance Policies
Insurance Regulatory and Development Authority (IRDA) has informed that all Insurance Companies functioning in the country are selling their policies online except Agriculture Insurance Company of India Ltd. (AICIL), Export Credit and Guarantee Corporation (ECGC), L&T General Insurance, Raheja QBE General Insurance, SBI General Insurance and Shriram General Insurance.
IRDA has informed that the likely benefits of purchasing policies online are as under:-
i. Availability of Lower Premium rates due to reduced operational expenses o the company,
ii. Quick and hassle free purchase of the policies,
iii. Policyholder may take an informed decision by liking into the products available online,
iv. Renewal of the policy becomes easier,
v. In case of a claim event, intimation may be given in a faster way than otherwise.
The manner of settlement of claims are as per Terms and Conditions of the Policy issued by the insurance companies.
This information was given by the Minister of State for Finance, Shri Namo Narain Meena in written reply to a question in Lok Sabha today.
PIB
Related to Your Search:
- Approval of Group Term Insurance Plan issued by M/s Shriram Life Insurance Company Limited for issuance in lieu of the Employees’ Deposit Linked Insurance Scheme, 1976
- New Norms for Life Insurance Products
- National Mediclaim Plus Policy
- Insurance of Rail Passengers
- Insurance Scheme For Railway Passengers
- Medical Insurance Scheme for Bank Employees and Officers who have retired after 1.10.2015
- Monthly Job fair for Ex-servicemen by Director General of Resettlement
- New Public & Private Companies Registration for EPFO & ESIC now on MCA portal
- Representation of Bank and Insurance Employees
Leave a Reply