Edelweiss Tokio Life Insurance which is a joint venture between the Edelweiss Group and Tokio Marine Holdings of Japan, has got the approval from IRDAI for ‘POS – Saral Nivesh’ that will be sold over the counter for the first time in India under the POS (Point of Sale) guidelines.
Edelweiss Tokio Life said in a statement that it is the first to receive approval from IRDAI (Insurance Regulatory & Development Authority of India) to sell such a product through POS, a category that is being explored for the first time ever in India.
Edelweiss Tokio Life MD & CEO, Deepak Mittal said that “The purpose of introducing such a product is to give access to life insurance to a larger section of the society, thereby increasing insurance penetration in India.
