Q. How is the policy term (T) determined for whole life products?

View solution

Q. What is the minimum policy term stipulated by regulations for individual products?

View solution

Q. What is the minimum premium payment term for individual products, except for single premium payment products?

View solution

Q. What is the maximum commission or remuneration for brokers during the first year for policies with a premium paying term of 12 and above during the first ten years of a life insurer's business?

View solution

Q. What is the maximum commission or remuneration for brokers in the subsequent years for all premium paying terms during the first ten years of a life insurer's business?

View solution

Q. What is the maximum commission or remuneration for pension products in case of single premium payment?

View solution

Q. What is the maximum commission or remuneration for pension products in case of other than single premium payment?

View solution

Q. What is the maximum commission or remuneration for fund-based group products with respect to all premium payment modes, except direct marketing, during the first year?

View solution

Q. In which scenario is no commission payable?

View solution

Q. What is the higher surrender value considered in most cases, according to the regulation?

View solution

Q. When does a policy acquire a guaranteed surrender value for products with a Premium Paying Term (PPT) of 10 years or more?

View solution

Q. Which products acquire a guaranteed surrender value after at least two consecutive years of premium payment?

View solution

Q. Which products are exceptions to acquiring a guaranteed surrender value and special surrender value?

View solution

Q. What is the minimum guaranteed surrender value for policies surrendered between the second and third year of the policy?

View solution

Q. What is the minimum guaranteed surrender value for policies surrendered between the fourth and seventh year of the policy?

View solution

Q. What is the minimum guaranteed surrender value for policies surrendered during the last two years if the policy term is less than 7 years?

View solution

Q. What action is required for surrender values beyond the seventh year?

View solution

Q. What is the minimum guaranteed surrender value for single premium policies surrendered within the third policy year?

View solution

Q. What is the minimum guaranteed surrender value for single premium policies surrendered in the fourth policy year?

View solution

Q. What action is required for surrender values beyond the fourth year for single premium policies?

View solution