This Authority is aware of some of the aberrations that have taken place in the month of March, 2005 in the matter of sale of Keyman Insurance.

We shall conduct a detailed examination of the policies marketed in March 2005 and shall come out with detailed guidelines on the sale of Keyman Insurance at the appropriate time. In the meantime, it has been decided that only Term Insurance Policy will henceforth be issued as “Keyman Insurance Cover”.


You are requested to ensure that your company follows this circular till fresh guidelines are issued in this regard.


(C.S. Rao)
Chairman