Micro-insurance plans
- In November 2005 the IRDA issued guidelines for micro-insurance through the IRDA (Micro-insurance) Regulations 2005. Micro-insurance aims at providing insurance cover to low income groups.
- The IRDA has specified that the life cover provided under micro-insurance products should range from Rs. 5,000 to Rs. 50,000.
- A life insurer may offer life micro-insurance products as well as general micro-insurance products and vice versa. (This is only allowed for micro-insurance products, and no other types of general insurance products.)
Anand Khemka
+91-9910936925
+91-8287041341
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