Q. How is the special surrender value determined for participating (par) policies?

View solution

Q. What is the maximum surrender charge for fund-based group non-linked products if surrendered within the third renewal?

View solution

Q. What charges may be levied by the insurer if a linked insurance policy is discontinued?

View solution

Q. When can advance premium collection be allowed according to the regulations?

View solution

Q. What is required for premium payments in level premium policies?

View solution

Q. According to the regulations, how should the maturity benefits be indicated in product literature?

View solution

Q. What does the asset share represent for life insurance policies?

View solution

Q. What is considered an innovative product according to the regulations?

View solution

Q. What is a key consideration for the innovativeness of a product design?

View solution

Q. What should an insurer provide when discussing the product design concept of a proposed innovative product with the Authority?

View solution

Q. What should an insurer consider regarding similar products available in other markets?

View solution

Q. What is the revival period for a discontinued policy due to non-payment of premium?

View solution

Q. What does the lock-in period refer to?

View solution

Q. How should charges be structured in linked insurance products during the lock-in period?

View solution

Q. What is the Premium Allocation Charge in linked insurance products?

View solution

Q. How is the Fund Management Charge (FMC) calculated in unit linked products?

View solution

Q. What does the Guarantee Charge represent in unit linked products?

View solution

Q. What does the Policy Administration Charge represent?

View solution

Q. When is the Surrender Charge or Discontinuance charge levied?

View solution

Q. What is the Switching Charge in unit linked products?

View solution