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Life Insurers to Disclose Projected Investment Returns In their Ads

The Insurance Regulatory and Development Authority of India (IRDAI) has directed life insurance companies to mandatorily give details of projected rate of returns to their prospective policyholders. Effective 1st December, life insurers have to provide customized benefit illustrations to policyholders that will help them in understanding what their corpus will earn at different life stages, assuming gross investment returns of 4% and 8% respectively. 

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As reported by The Economic Times, IRDAI said, "It is observed that some of the advertisements containing illustrations being released in the market are not in tune with the (regulations) spirit and hence fail to enable the prospects to compare both scenarios; so as to give better appreciation of possible benefit depending on the yield.”  Due to this lapse, policyholders do not get a clear picture of the possible returns. To fill the gap, IRDAI has advised that wherever the illustration is given in advertisements, insurers must present it with both investment returns of 4% and 8% with a prominence in size at the same time and on the same page. 


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