The move comes after similar relaxations were extended to health and general insurance products.New Delhi: Insurance regulator (IRDAI) on Friday allowed insurers to launch new life insurance products without its prior approval. The move comes after similar relaxations were extended to health and general insurance products last week.”This will result in improving ease of doing business for the insurers and also lead to expansion of the choices available to the policyholders,” the Insurance Regulatory and Development Authority of India said.It will enable life insurers to launch most of the products (except individual savings, individual pensions and annuity) on time, the regulator added.
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