Question

According to IRDA (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010, what options do discontinued policyholders have?

a.

They must continue paying premiums indefinitely

b.

They can only withdraw the entire funds from the underlying ULIP funds

c.

They can either revive the policy or withdraw the entire funds

d.

They can only withdraw funds after the lock-in period

Posted under IC 14 Regulations of Insurance Business

Answer: (c).They can either revive the policy or withdraw the entire funds Explanation:Discontinued policyholders have the option to either revive the policy within the terms and conditions governing it or withdraw the entire funds from the underlying ULIP funds, according to IRDA (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010. This provides flexibility and choices to policyholders facing financial uncertainties.

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Q. According to IRDA (Treatment of Discontinued Linked Insurance Policies) Regulations, 2010, what options do discontinued policyholders have?
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