Q. What option is available to the policyholder in a ULIP to safeguard the value of their funds in difficult times?

View solution

Q. What is the definition of linked business according to IRDA (Registration of Indian Insurance Companies) Regulations, 2000?

View solution

Q. What does Regulation 3 (3) of IRDA (Investment) Regulations, 2000 state about Unit Linked Life Insurance Business?

View solution

Q. Besides specific regulations for unit-linked insurance, which regulation pertains to the treatment of discontinued linked insurance policies?

View solution

Q. What are the minimum criteria expected of a ULIP product according to the circulars?

View solution

Q. What is the requirement for life insurance companies regarding the training of agents and intermediaries selling ULIP products?

View solution

Q. What should be included in the curriculum of the training for agents and intermediaries selling ULIP products?

View solution

Q. What documentation should life insurance companies maintain to demonstrate an informed decision in deciding a particular product?

View solution

Q. What is necessary regarding educating policyholders under the ULIP contracts?

View solution

Q. What is required regarding the unit price rounding off in ULIP contracts?

View solution

Q. What information should life insurers mention in sales brochures, prospectus, promotional material, and policy documents related to ULIP products?

View solution

Q. What must be mentioned on the top of each document, including the proposal form, related to ULIP products?

View solution

Q. What information must be provided to the policyholder related to investments, using the same font as an annual report?

View solution

Q. According to para 14 of Part I of the circular issued by IRDA, when should unit statements be issued to policyholders?

View solution

Q. What does para 14.3 of Part I of the circular issued by IRDA state regarding unit statements?

View solution

Q. What should life insurance companies ensure when reporting past performance of funds in advertisements?

View solution

Q. What must be included in advertisements regarding the past performance of funds, if applicable?

View solution

Q. What information should an advertisement about Unit Linked products clearly distinguish?

View solution

Q. What should an advertisement for Unit Linked Life Insurance products explicitly state regarding premiums and investment risks?

View solution

Q. What is the essential ingredient of a life insurance product, according to the guidelines for product design?

View solution