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IRDAI brings group Ulips, combi schemes in use-and-file ambit to speed up policy launches

Life insurers can now launch group unit-linked insurance policies and combi products without prior approval from the insurance regulator

Now, insurance cos can launch group Ulips, combi plans without prior IRDAI nod

Life insurers can now launch group unit-linked insurance policies and combi products without prior approval from the insurance regulator

3-in-1 insurance: Soon, you can get life, health insurance and market linked investment in one combo product

Under the revised procedure, the insurers are now permitted to use and file group unit-linked life and health insurance products. IRDAI has also introduced combi products — the insurance products where life insurance acts as the lead insurer. This move will allow customers to buy comprehensive insurance coverage under a single policy as insurers can offer bundled products now.

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