MANU/IRDA/0027/2015

Authority : Insurance Regulatory and Development Authority

Circular No. : IRDAI/LIFE/CIR/MISC/147/08/2015

Date : 13.08.2015

Notification/ Circulars Referred : 007/IRDA/CIR/ADV/MAY-07 MANU/IRDA/0039/2007;IRDA/Life/Misc./Cir/129/08/2010 MANU/IRDA/0092/2010;IRDA/Life/Misc./Cir/154/07/2012 MANU/IRDA/0057/2012;IRDA/LIFE/ADVT/CIR/182/09/2013 MANU/IRDA/0079/2013;IRDA/CAD/CIR/MISC./024/01/2014 MANU/IRDA/0004/2014;IRDA/CAD/CIR/MISC./038/01/2014 MANU/IRDA/0006/2014

Citing Reference:
007/IRDA/CIR/ADV/MAY-07 MANU/IRDA/0039/2007  Referred

IRDA/Life/Misc./Cir/129/08/2010 MANU/IRDA/0092/2010  Referred

IRDA/Life/Misc./Cir/154/07/2012 MANU/IRDA/0057/2012  Referred

IRDA/LIFE/ADVT/CIR/182/09/2013 MANU/IRDA/0079/2013  Referred

IRDA/CAD/CIR/MISC./024/01/2014 MANU/IRDA/0004/2014  Referred

IRDA/CAD/CIR/MISC./038/01/2014 MANU/IRDA/0006/2014  Referred

Master Circular On Insurance Advertisements.

Master Circular

On

Insurance Advertisements

1. Background:

1.1. The success of sales communication depends on public confidence and the faith they repose in the insurers, when they receive a communication from them promoting their products. As such the insurers are expected to adopt honest and fair practices in the market-place and avoid practices that tend to impair the confidence of the public. As it is very difficult for the public to understand and evaluate the latent intricacies involved in the various insurance products, it is of paramount importance that the publicity material is relevant, fair and transparent enabling informed decision making about whether or not to buy a specific insurance product. The verbal communication that the prospects receive from their advisors can be supplemented by the written material that is made available to them.