Aviva launches its new 13 products
On November 12, Aviva Life Insurance revealed its 13 product launches that are compliant with the latest conventional and product guidelines. In the Life Insurance sector, this company is one of the first to announce the new guidelines.
It has been a great initiative for Aviva at all times to carry out goods that are consumer-friendly and deliver a better outlook and returns from their policies, according to Sanjeeb Kumar Actuatory Aviva Life. Aviva is doing its utmost to provide its customers with the best in class goods that are also consistent with the regulatory guidelines.
Recently, IRDA(Insurance Regulatory and Development Authority) released a new set of rules and regulations for Life Insurance Space products. The compliance deadline was 1 October 2013, which was later extended to 1 January 2014.
The key objective of these products would be to have a high minimum guarantee for premature withdrawal and a high standard of insurance cover for customers.
On April 1, 2014, IRDA will do an appropriate review.
Until suggesting an insurance policy to the applicant, it is mandatory for insurance brokers and intermediaries to perform a suitability study.
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