Implementation of new norms for life insurance plans extended

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The new guidelines are aimed at making insurance policies more customer-friendly. Reuters The new guidelines are aimed at making insurance policies more customer-friendly. Reuters
SummaryThe new guidelines are aimed at making insurance policies more customer-friendly.

case of ULIPs, insurers will now have to inform policyholders about the reduction in yield of their ULIP on a monthly basis.

As per the new norms, variable insurance plans will guarantee a certain minimum rate of return at the beginning of the policy, though they are linked to an index.

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