Section 49(f) in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019
(f)Where any product or feature of a product is cleared by the IRDAI, such clearances for the same kind of product or feature shall not be denied to any other insurer. However, the Authority reserves the right to require insurers to withdraw a product or a feature of the product if such product feature is found not to be consistent with policyholder interests.
