Question

What is the requirement for reconciliation in the case of ULIP products for life insurers?

a.

Reconciliation with Investment Accounts and banks

b.

Units reconciliation with policy Admin. System on a day-to-day basis

c.

Reconciliation with Custodian Records

d.

Quarterly reconciliation with policy Admin. System

Posted under IC 89 Management Accounting

Answer: (b).Units reconciliation with policy Admin. System on a day-to-day basis Explanation:In the case of ULIP products for life insurers, Units reconciliation with policy Admin. System should be ensured on a day-to-day basis.

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Q. What is the requirement for reconciliation in the case of ULIP products for life insurers?
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