The correct answer is: D. All of the above.
The Insurance Regulatory and Development Authority of India (IRDA) has prescribed the design and content of a proposal form through the following regulations:
- IRDA (Licensing of Agents) Regulations, 2000
- IRDA (Protection of Policyholders’ Interests) Regulations, 2002
- IRDA (Standard Proposal Form for Insurance) Regulations, 2013
The IRDA (Licensing of Agents) Regulations, 2000, prescribe the requirements for the licensing of insurance agents. These regulations require that all insurance agents must be licensed by the IRDA. The regulations also set out the duties and obligations of insurance agents.
The IRDA (Protection of Policyholders’ Interests) Regulations, 2002, are designed to protect the interests of policyholders. These regulations set out the rights and obligations of policyholders, as well as the duties and obligations of insurers. The regulations also provide for the establishment of a grievance redressal mechanism for policyholders.
The IRDA (Standard Proposal Form for Insurance) Regulations, 2013, prescribe the design and content of a proposal form for insurance. These regulations require that all insurance companies must use a standard proposal form that has been approved by the IRDA. The regulations also set out the information that must be included in a proposal form.
The IRDA has prescribed the design and content of a proposal form through the above-mentioned regulations in order to ensure that all policyholders are treated fairly and that they have all the information they need to make an informed decision about whether or not to purchase an insurance policy.