IRDAI exempts insurers from issuing policy documents in physical form

In the wake of emerging situation of Covid19 Global Pandemic, IRDAI has exempted insurers from requirement of issuance of policy document in physical format. The exemption is subject to rider that Life Insurer must confirm the date of receipt of e- policy document by the policyholder through PIVC or other means and preserving the proof so that Free Look period may be calculated from that date. 30 days Free Look period may be allowed for all such e-policy documents.In the wake of emerging situation of Covid19 Global Pandemic, IRDAI has exempted insurers from requirement of issuance of policy document in physical format. The exemption is subject to rider that Life Insurer must confirm the date of receipt of e- policy document by the policyholder through PIVC or other means and preserving the proof so that Free Look period may be calculated from that date. 30 days Free Look period may be allowed for all such e-policy documents.taxmann.com Latest Statutory HappeningsRead More

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