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

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

View solution

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

View solution

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

View solution

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?

View solution

Q. How is the sum assured related to the premium in unit-linked insurance plans, as per the guidelines?

View solution

Q. What is the formula for calculating the minimum mortality cover in unit-linked products, as per the guidelines?

View solution

Q. In the case of Whole Life Products, how is T (Policy Term) determined in the formula for calculating the minimum mortality cover?

View solution