Money & Banking

IRDAI norms for PoS life products

NagOur Bureau Hyderabad | Updated on December 04, 2019 Published on December 04, 2019

In a move that will improve the ease of access to life insurance products, the Insurance Development and Regulatory Authority of India (IRDAI) has issued guidelines for point of sales (PoS) products and personnel.

According to the master circular of the insurance regulator, pure-term insurance products with or without return premium; non-linked, non-participating endowment products; immediate annuity products; and non-linked, non-par health insurance products with fixed benefit could be offered through PoS. To be appointed as point of sales person (POSP), one should have completed 18 years of age and passed 10th standard.

Published on December 04, 2019
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.