2. Life-Long Renewability
As IRDA has refused to approve new products with a limit on the exit age, most companies are retaining their product structures to offer life-long cover. But this move will not do any good to the existing policyholders who may have suffered the pain of rejection of their request for renewal, may be at the time when they might have need it the most, despite having paid premiums regularly. Yet, it is a noteworthy step, as it will guard newer policyholders from such unjust treatment by companies.
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