India Business News: Insurance regulator Irdai has recommended increasing the 'free-look' time for plans from 15 days to a month. According to an insurance broker, a free-
Earlier, policyholders had to serve a waiting period of 2 to 4 years before their maternity coverage could begin. Insurance providers now offer plans with considerably shorter waiting periods, some as brief as 9 months
Besides raising the freelook period from 15 to 30 days, insurance regulator has proposed that insurers to collect the details of bank accounts of insured at the proposed stage to enable electronic transfer of refund and for payments of claims.