Why we need a completely different insurance business

Suddenly, there’s a spate of media reports and analyses on how the Insurance Regulatory and Development Authority (Irda) may be in the process of bringing in a new set of stricter rules on a class of insurance policies known as traditional policies. The headlines of these news articles are instructive. ‘After Ulips, traditional plans come under Irda scanner’ and ‘Traditional plan clean-up begins’ are two typical headlines.



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