The Insurance Regulatory and development Authority of India has issued Master Circular No.IRDA/LIFE/CIR/MISC/147/08/2015 dated 13th August, 2015.
The Master Circular has been issued to ensure that the insurers do not indulge themselves into unfair trade practices in the market place and repose the confidence of the public.
As it is very difficult for the public to understand and evaluate the intricacies involved in the various insurance products, it is of paramount importance that the publicity material is relevant, true, fair and transparent enabling informed decision making about whether or not to buy a specific insurance product.
Please access the below link to read the full master circular.
