Section 13 in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019
13. Minimum Guaranteed Interest Rate.
(a)The minimum guaranteed interest rate applicable to the discontinued fund shall be declared by the Authority from time to time. The current minimum guaranteed interest rate applicable to the discontinued fund is 4% per annum.(b)The excess income earned in the discontinued fund over and above the minimum guaranteed interest rate shall also be apportioned to the discontinued policy fund in arriving at the proceeds of the discontinued policies and shall not be made available to the shareholders.
