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Insurance Companies to Offer Option for Payments in Instalments
September 30, 2019
According to a new circular released by regulator IRDAI, people who want health insurance cover may soon get the option to pay their premium in installments. They will get the option to pay the premium on a monthly, quarterly, or half-yearly basis although they will continue to have the option of annual payments.
The move by the Insurance Regulatory and Development Authority of India will give more flexibility to insurance companies to offer their products. It will help in deepening the market.
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