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Life insurers to refund premium in a yr old policy in case policyholder commits suicide:IRDAI

In case of non-linked policy, the nominee or beneficiary of the policyholder shall be entitled to at least 80 per cent  of the total premiums paid till the date of death or the surrender value available as on the date of death whichever is higher, provided the policy is in force, said IRDAI  in its revamped life insurance regulations that will be effective from Monday.

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