IRDAI has plans to expand insurance products in the country.
There is a preparation to provide complete security to the customers through all in one policy.
You will get the benefit of low premium and fast claim settlement.
All in One Policy: Till now, to avail the benefits of other insurance products including life, health and motor insurance in the country, there is a need to take separate policies, but in the coming days, you will start getting all these benefits within a single policy. In fact, the insurance regulatory body IRDAI is working on bringing such a single policy, which will cover all types of insurance and customers will not have to take separate policies. That is, it will be an all in one insurance policy.
If this scheme of the insurance regulator is successful, then families across the country will soon start getting a single policy. IRDA chief Devashish Panda said that this task is definitely difficult, but discussions are going on. Let us know what kind of preparations the insurance regulator is making regarding this and how the customers will benefit from it.
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What is Insurance Trinity?
Insurance Regulatory and Development Authority of India (IRDAI) has taken an ambitious initiative to promote insurance products in the country. IRDAI’s “Insurance Trinity,” an affordable product, aims to provide comprehensive health, life, property and accident coverage to citizens.
According to the report of the English newspaper The Hindu, the country is working on such a plan to rapidly expand insurance products. The all-in-one insurance policy will bring together multiple risk protection and simplify the settlement process by connecting claims to a common industry platform.
Fulfillment of all protection in a single policy
IRDA chief Devashish Panda said that we want that all the risks of the customers should be covered by one policy, as well as this policy should be easily available to all. Apart from this, the premium of this policy should be low and claim settlement should also be quick. He said that if this plan of ours takes shape, then families across the country will soon get the gift of such an affordable single policy, in which security will be provided regarding health, life, property and accident cover. Claim settlement will happen within a few hours through this policy.
The Insurance Regulatory and Development Authority wants that the common people do not have to wander about the insurance policy for different needs. In one go, he should take such a policy, in which the risks related to all the sectors including health, life and property are covered and pay the premium of all the policies in lump sum.
Tags: car insurance, Health insurance cover, Insurance, Insurance Regulatory and Development Authority
FIRST PUBLISHED : May 28, 2023, 15:02 IST