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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.
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