Note thease 5 changes in LIC insurance plans from 2020
Notice what changes will happen
- This article is a must-read if you are a Life Insurance Planner or LIC. Some of the terms of a life insurance policy will change from next year. It's good to know many things, including whether or not this change will affect your life insurance plan.
- Many life insurance products will witness several changes next year, from the opportunity for a partial withdrawal to a period of increasing revival. The new regulations will come into effect from February 1, 2020.
- The Insurance Regulatory Development Authority (IRDAI) has relaxed the rules for pension rules, ULIPS (Unit Linked Insurance Plan), and traditional life insurance plans to benefit consumers.