Check new IRDAI rule for loan payment By Credit Card

In a circular dated May 4, 2023, the insurance regulator advised all Life Insurers

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to stop accepting credit cards as a mode of re-payment of loans granted against insurance policies.

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The Authority has decided to stop the facility of re-payment of loans taken against the insurance policy using credit card as a mode of payment

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Accordingly, all Life Insurers are advised to stop the acceptance of credit card

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as a mode of re-payment of loans granted against insurance policies with immediate effect,” the IRDAI said in the circular.

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Thanks For Watching

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