The first-of-its kind policy safeguards battery life for up to four or five years and provides performance coverage for up to 60,000 km. Additionally, the comprehensive plan covers EV components alongside the battery and is transferable to a new owner in the event of a sale, boosting resale value
The regulator has asked companies to disclose the discounts they can offer on direct purchases since they involve no commission. Direct modes exist even now. All that IRDAI has now mandated is a bit more transparency. That doesn’t mean insurers are mandated to offer direct plans, unlike MFs