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Nov 2020

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India: Regulator to study life insurance index-linked products

Source: Asia Insurance Review | Oct 2020

Following requests from various life insurers to allow them to sell index-linked products, the Insurance Regulatory and Development Authority (IRDAI) has formed a six-member committee to examine various aspects of index-linked products in the life insurance segment.
 
According to an official announcement, the regulator has asked the committee to submit its report within two months from 1 September. The committee comprises representatives from the IRDAI, Aditya Birla Sun Life Insurance, Max Life Insurance and ICICI Pru Life Insurance.
 
Currently, regulations do not specifically permit insurers to sell index-based products and life insurers can offer products under two categories: Participating products and non-participating products. A 
 
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