Demat form for life policies likely

Time-worn and dog-eared life insurance polices will soon be a thing of the past. If a proposal of life insurers goes through, as is likely, life polices will leave the physical format for a dematerialised form. That will help the country s crores of life policy-holders to store their policies in depositories in the demat form, just like millions of shareholders do now with their scrips. Going by the move by the Life Insurance Council (LIC), the official representative body of the domestic life insurers, the life insurance industry is eager to dematerialise their existing and new life insurance policies. Confirming ...

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