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Ref: IRDA/Life/Misc/Cir/073/2013

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INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY

3/March/2014 To All Insurers, Re: Policy Servicing Forms(1) Availability in Languages recognized Constitution of lndia(2) Minimum Font Size of Times New Roman 7 under

Reference is invited to Regulation 4 (2) of the IRDA (Protection of Policyholders Interest) Regulations, 2002 which stipulates that all the forms and documents used in the grant of cover may, depending upon the circumstances of each case, be made available in languages recognized under the Constitution o f lndia.\Nh\\e these regulations specify that all print material, used in the grant of cover, shall be made available in languages recognized under the Constitution o f India, it may be noticed that there are no such specific regulations requiring the insurers to also make available all the forms used during the course of post-sale policy servicing such as; claims, loans, surrender, alterations, nominations, assignments, revivals etc in the said languages. As policy servicing is one of the critical components of the insurance contracts, various service forms / formats that are made available to the policyholders during the course of policy service shall have clarity in terms of the print-size and shall facilitatecomplete understanding in terms of the language. Therefore, all the Insurers are advised to make available all the policy servicing forms also in languages recognized under the Constitution o f Indiaso as to meet the requirements of policyholders.The insurers may also make available these forms in languages recognized under the Constitution o f India on their website so that the forms may be accessed easily. It is envisaged that this initiative benefits in increasing informed decisions by policyholders / beneficiaries. All Insurers also to note that there is a need for maintaining minimum / reasonable font size in respect of all the forms provided / used, both in respect of those forms provided / used in the grant of cover as also those forms provided / used during the course of policy servicing. It may be noted that an insignificant print used in the forms / formats may i I

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INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY

to the prospects and policyholders both during the course of granting the cover and subsequent policy servicing throughout the policy term. The advice of maintaining minimum font size is also made applicable to policy contracts / documents issued to all policyholders. This has the approval of Competent Authority.

Joint Director (L ife)'C

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Parisharam Bhavan, 3rd Floor, Basheer Bagh, Hyderabad-500 004. India. Ph.: 91-040-2338 1100, Fax: 91-040-6682 3334