Question

Which of the following parameters is typically included in the financial projections section when filing a group term product with IRDA of India?

a.

Rates of mortality assumptions and rates of morbidity.

b.

Description of reinsurance arrangement and retention limits.

c.

Proposal form and sales literature.

d.

Bonus rates and guaranteed cash values.

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (a).Rates of mortality assumptions and rates of morbidity. Explanation:The financial projections section typically includes parameters such as rates of mortality assumptions and rates of morbidity. These assumptions are crucial for pricing the group term product and projecting its financial performance over time. They provide insights into the expected mortality and morbidity experience of the insured group, which directly impacts the insurer's claims experience and financial results.

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Q. Which of the following parameters is typically included in the financial projections section when filing a group term product with IRDA of India?
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