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Circular
Ref. No:IRDAI/Life/Cir/Misc/059/03/2022 Date:31-03-2022
Extension of facilitation dispensing with physical signatures on the proposal forms

Ref:IRDAI/Life/Cir/Misc/059/03/2022                                         Date: 31st March, 2022

 

 

To All Life Insurers

 

Re: Extension of facilitation dispensing with physical signatures on the proposal forms

 

Reference is drawn to the circulars No. IRDAI/Life/Cir/Misc/274/11/2020 dated 11th November 2020,  IRDAI/Life/Cir/Misc/055/03/2021 dated 22nd March 2021 and IRDAI/Life/Cir/Misc/253/09/2021 dated 17th September, 2021 on dispensing with physical signatures on proposal forms.  

 

 

It has now been decided by the Authority to further extend the facilitation dispensing with physical signature on proposal forms and permitting OTP based validation, up to 30/09/2022.  All other provisions of the above referred Circulars remain unchanged.

 

Please note that the facilitation exempting insurers from issuance of policy documents in physical form, granted under proviso  to Regulation 4 (iii) of IRDAI (Issuance of e-insurance policies) Regulations, 2016, is no longer extended.

 

 

 

 

 

(V. Jayanth Kumar)

Chief General Manager (Life Insurance)

 

 

Insurance Regulatory and Development Authority of India. All Right Reserved.