Question

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

a.

Contracts related to health insurance

b.

Contracts with fixed benefits

c.

Contracts under which benefits are determined by underlying assets or approved index

d.

Contracts with variable premiums

Posted under IC 14 Regulations of Insurance Business

Answer: (c).Contracts under which benefits are determined by underlying assets or approved index Explanation:Regulation 2 (i) of IRDA (Registration of Indian Insurance Companies) Regulations, 2000 defines linked business as "life insurance contracts or health insurance contracts under which benefits are wholly or partly to be determined by reference to the value of underlying assets or any approved index."

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