New Delhi: The regulatory body IRDAI is keeping a close eye on claims made by insurance companies in advertisements. It would be expensive to exaggerate the claims in the ad. A new law will be issued soon by the IJARDAI. The main goal of the law is to curb inappropriate and misleading advertisements, in particular. Often, insurance companies do not provide clear information when advertising a policy. Some companies are pushing for more. Other companies are claiming that the policy does not match the benefits. To address all these issues with advertising and to protect the interests of consumers, ADHRDAI is soon to introduce a new rule. Partners are urged to comment on the rule by November 10. The new rules will apply to third parties or aggregators and insurance companies that sell insurance policies when they advertise. One of the purposes of the law is to ensure that companies do not act in a way that could undermine the trust of their customers. The IRDAA wants advertisements on insurance products to be argumentative and to use simple language. Customers can make the right decision when buying a policy if the right information reaches them. They will benefit from buying the right policy for them. With the help of misleading advertisements, customers often buy the wrong policy that does not meet their needs.
