The Insurance Regulatory Development Authority of India (Irdai), the regulator for insurance companies, is set to allow the insurers to offer wellness programmes along with life insurance policies that can earn reward points for the policyholders. These reward points can be redeemed for getting a discount during renewal.
The insurance regulator has circulated draft guidelines to insurance companies for feedback before issuing the final guidelines, as is the norm. The insurance companies have been requesting the regulator for some time to allow them to offer wellness initiatives.
“Wellness initiative is a programme that may be offered to life insurance policy