Under the guidelines issued by Insurance Regulatory and Development Authority (IRDA), the life and non-life insurance firms can come together to offer health-plus-life cover.
IRDA said the combi products may be promoted by all Life Insurance and non-Life insurance companies.

The sale of the combi products can be made through direct marketing channels, brokers and composite individual and corporate agents, common to both insurers. However, these products are not allowed to be marketed through ‘bank referral’ arrangements, IRDA said.