AN IMPETUS OF STANDARD INSURANCE PRODUCTS AVAILABLE IN INDIAN INSURANCE SECTOR

  • Unique Paper ID: 164447
  • Volume: 10
  • Issue: 12
  • PageNo: 1533-1538
  • Abstract:
  • Indian Insurance Industry has existed for a long time and insurance has been covering lives and livelihoods for ages. Insurance covers risks of various diversities and is available as life insurance, general insurance, and health insurance. There are many insurance providers in the market both from the public and private sectors. IRDAI is the regulating agency that regulates nationwide insurance activities. IRDAI provides a list of schemes that become the base product for floating any insurance schemes and policies in the market. These schemes are called Standard Insurance Products. As per the guidelines of IRDAI, all the insurance players in the market must compulsorily provide the basic coverage as prescribed by the Standard Insurance Products(SIP). The insurance players cannot defy the guidelines set by SIP. This paper tries to identify and highlight the importance of Standard Insurance Products. These products and their awareness will help the insurance coverage postulants to plan the coverage and accordingly look for the right schemes from the available schemes in the market.

Copyright & License

Copyright © 2025 Authors retain the copyright of this article. This article is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

BibTeX

@article{164447,
        author = {Ms. Supriya P and Dr. N Gunasegari},
        title = {AN IMPETUS OF STANDARD INSURANCE PRODUCTS AVAILABLE IN INDIAN INSURANCE SECTOR},
        journal = {International Journal of Innovative Research in Technology},
        year = {},
        volume = {10},
        number = {12},
        pages = {1533-1538},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=164447},
        abstract = {Indian Insurance Industry has existed for a long time and insurance has been covering lives and livelihoods for ages. Insurance covers risks of various diversities and is available as life insurance, general insurance, and health insurance. There are many insurance providers in the market both from the public and private sectors. IRDAI is the regulating agency that regulates nationwide insurance activities. IRDAI provides a list of schemes that become the base product for floating any insurance schemes and policies in the market. These schemes are called Standard Insurance Products. As per the guidelines of IRDAI, all the insurance players in the market must compulsorily provide the basic coverage as prescribed by the Standard Insurance Products(SIP).  The insurance players cannot defy the guidelines set by SIP. This paper tries to identify and highlight the importance of Standard Insurance Products. These products and their awareness will help the insurance coverage postulants to plan the coverage and accordingly look for the right schemes from the available schemes in the market.},
        keywords = {Insurance, Standard Insurance Products, Life Insurance, General Insurance, Health Insurance},
        month = {},
        }

Cite This Article

  • ISSN: 2349-6002
  • Volume: 10
  • Issue: 12
  • PageNo: 1533-1538

AN IMPETUS OF STANDARD INSURANCE PRODUCTS AVAILABLE IN INDIAN INSURANCE SECTOR

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