The Insurance Regulatory and Development Authority of India (“IRDAI”), through a notification dated 13th January, 2020, has said that from now on, insurance companies are allowed to market Arogya Sanjeevani Policy as an indemnity based health insurance product to be solicited through Point of Sale Person (“PoS”) channel in addition to the three products already specified by the IRDAI.
The IRDAI had brought in the Guidelines on Point of Sales Person – Non-Life & Health Insurers (“Principal Guidelines”), through a notification dated 26th October, 2015 for regulating PoS and those engaging PoS. Through a notification dated 25th October, 2017, the IRDAI had set a maximum limit of three products that could be filed as PoS product, per insurance company.
Now, with this notification, the IRDAI has allowed the insurance companies to market Arogya Sanjeevani Policy as an additional product that can be filed as PoS under the Principal Regulations.
Source: Insurance Regulatory and Development Authority of India
