Question
Which of the following standard immediate annuity
product has IRDA recently asked all life insurance companies to offer?Solution
The Insurance Regulatory and Development Authority of India (IRDAI) has asked life insurance companies to offer a standard immediate scheme called 'Saral Pension' in order to reduce the problems faced by policyholders. Insurance providers will launch the Saral Pension Scheme on 1 April 2021. Pension is an essential source of income that helps you fulfill your post-retirement financial needs. This product aims to make it easier for buyers to make an educated decision, boost the relationship between the insurers and the insured, and decrease all mis-selling and possible conflicts.
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