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Issue relating to show-cause notice against LIC resolved

The IRDA had questioned the relevance of certain LIC advertisements that had the catch line -- 'last time to buy your favourite product'.

January 17, 2014 3:43 IST | India Infoline News Service
The issue involving a show-cause notice being sent to Life Insurance Corporation (LIC) of India by Insurance Regulatory and Development Authority (IRDA) had already been resolved, according to a media report.

In November 2013, the insurance regulator had issued a show-cause notice to LIC for allegedly misleading the public through advertisement. The IRDA had sought a clarification from LIC for putting up advertisements asking customers to buy products before December 31, 2013, the report added.

The IRDA had questioned the relevance of certain LIC advertisements that had the catch line -- 'last time to buy your favourite product'.


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