homemarket NewsHDFC Life, Max Financial shares rise on IRDAI's final guidelines on surrender value

HDFC Life, Max Financial shares rise on IRDAI's final guidelines on surrender value

IRDAI's final guidelines, which will be effective April 1, 2024, state that the surrender values for life insurance policies are expected to largely remain the same or even lower if policies are surrendered up to a period of within three years. For life insurance policies surrendered from the fourth to the seventh year, surrender value may see a minor increase.

By Meghna Sen  Mar 26, 2024 11:02:34 AM IST (Published)

3 Min Read

Life insurance stocks like HDFC Life Insurance Company Ltd and Max Financial Services Ltd rose up to 7% intraday on Tuesday (March 26) following IRDAI's (Insurance Regulatory and Development Authority of India) notification on the final regulations in relation to surrender value.
At 10:37 am, Max Financial shares were trading higher by 4.42% at 985.75, while HDFC Life shares rose 1.36% to 632.35 apiece on the NSE.
IRDAI's final guidelines, which will be effective April 1, 2024, state that the surrender values for life insurance policies are expected to largely remain the same or even lower if policies are surrendered up to a period of within three years. For life insurance policies surrendered from the fourth to the seventh year, surrender value may see a minor increase.