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Title: To all Life Insurers
Reference No.: IRDA/LIFE/MISC/CIR/ 221/11/2016
Date: 07/11/2016
Spurious Phone Calls and Fictitious/Fraudulent offers – Modification in
Clause 15 (sub-clauses 15.1 and 15.2) of Master Circular on Insurance Advertisements, IRDAI/LIFE/CIR/MISC/147/08/2015, dated 13.08.2015 (VER-01) states as follows:
15.1  All Life Insurers shall flash on their Home Page of their websites, the following Public Notice issued by IRDAI cautioning general public about spurious calls and fictitious offers. This may also be inserted in a box item prominently at the end of all their product advertisements in print media including pamphlets, publicity material, etc. with a view to educate the customers on the role of Regulator and also caution the public on spurious calls.
IRDAI clarifies to public that
·         IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
·         IRDAI does not announce any bonus.
·         Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.
15.2  At the end of TV Advertisements/Cinema Hall Advertisements of Life Insurance, the slide placed at Annexure –I may be displayed continuously for a minimum period of 5 (five) seconds. (Hindi version in Annexure-II is also enclosed). True translation in other Indian Languages may also be used as per need with due certification.
In partial modification of the above Master Circular, the provisions of sub-clause 15.2 stands omitted with immediate effect. However, it is reiterated that there is no change in any other provisions of this circular, including sub-clause 15.1 and they have to be continued with.
(Nilesh Sathe)
Member (Life)
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