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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Q. What does the human life value element determine in the context of life insurance coverage?

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Q. How is the minimum sum assured linked to the term of the life policy and the age of the life assured?

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Q. What determines the policy term in the case of whole life plans according to the guidelines?

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Q. What is the purpose of ensuring a defined quantum of the sum assured in the case of single premium policies, according to the guidelines?

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