IRDA regulation of 2010 on surrender charge

POSTED BY rahul kumar ON December 15, 2012 1:42 am COMMENTS (2)

whether IRDA regulation issued in year 2010 with the title of ‘ Treatment of Discontinued Linked Insurance Policies Regulations, 2010,’ which limits the surrender charges of life insurance policy, can be applied to the a  ULIP  purchased in year 2006 and to be surrendered in year 2013 ?

 

2 replies on this article “IRDA regulation of 2010 on surrender charge”

  1. All the ULIP’s which were bought before the RULE came in will follow old rules only, unless and untill specified . In your case, whatever is written in the BROCHURE you got , will be final 🙂

  2. No. The regulation comes into effect the date it was published in the govt gazette and applies to all policies cleared by the IRDA thereafter.

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