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DISPENSING WITH PHYSICAL SIGNATURES ON PROPOSAL FORMS

Updated on:11th Nov, 2020
Dispensing with physical signatures on proposal forms. Vide IRDAI/Life/Cir/Misc/208/08/2020 dated 5th August, 2020, instructions have been issued on the above subject allowing authentication of proposals in respect of pure risk products with OTP for the sales made by Insurance Agents and Insurance Intermediaries, for the period up to 31st December, 2020. On a review of the working of this arrangement and on the basis of feedback from the Life Insurers, the following instructions are issued under Regulation 18, read together with Regulation 8(1) of IRDAI (Protection of Policyholders’ Interests) Regulations, 2017, Regulations 33 (c) and 38 of IRDAI (Non-Linked Insurance Products) Regulations, 2019, Regulations 31 and 51 of IRDAI (Unit Linked Insurance Products) Regulations, 2019 and Clause 2.2 of Circular reference IRDAI/Life/Cir/Misc/173/09/2019 dated 26th September, 2019.
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