Insurers can take policy in existing system | IRDA Extended Three Month for withdrawal of Lic plan

Insurers can take policy in existing system, IRDA Extended Three Month for withdrawal of Lic plan.
Life Insurance corporation of India (LIC of India) is the biggest Insurance company In India. LIC of India under control by the Insurance Regulatory and Development Authority (IRDA). Life Insurance Policy bye's or insurers can take or bye the policy in existing system before the month of January, 2014. Because IRDA have been decided to some changes of LICI product (policy) selling to consumers earlier.
The Lic's product (policy) selling deadline last Date was fixed on October 1st, 2013. But LIC of India and LIC council both are reminder for extension of deadline of this system. So IRDA has extended the above mention issue (existing system for product selling) on 31st December, 2013 last. But there is no change the time-table of deadline on highest Net asset Value (NAV) guaranteed products.

Shree Sudhin Ray Chowdhury, member of IRDA said,"All insurers will have to discontinue these product from 31st October, 2013" insurers will not permitted to offer guaranteed highest Net Asset Value (NAV)
products in the Unit Linked portion or segment. In case of Unit Link Policy ULIP product, that will be needed to inform all said policy holders about changes in the yield every month by the LIC of India.
More new norms implement by IRDA For customers to protect the miss selling of their (LIC) product. The actual aims of IRDA, all product of their (LICI) more acceptable and customers friendly.

Insurers, please further details about Insurance policy from the official website of LIC of India or near the branch of Lic of India. www.licindia.in
Note:: Insurers can take policy in existing system, IRDA Extended Three Month for withdrawal of Lic plan.