After examining various representations received from Life Insurance Industry, the competent Authority , under the provisions of Regulation 12 of IRDA (Standard Proposal form for Life Insurance ) Regulations,2013 , issues the following clarifications.
1) The implementation of obligations under Section 5,6,7,8,9&10 of IRDA (Standard Proposal form for Life Insurance) Regulations,2013 are deferred until further notice to facilitate a more comprehensive debate and consultations on various provisions.
2) IRDA (Standard Proposal form for Life Insurance) Regulations,2013 are not applicable to Micro Insurance Products and Products distributed through CSC Channel.
