Section 6(b) in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019
(b)General aspects on any investment guarantees provided under Unit Linked insurance products:(i)Guarantees provided shall be reasonable, consistent in relation to the current and long term interest rate scenario and priced appropriately.(ii)In case of Unit Linked insurance products where guarantee charge is levied: If a guarantee charge is levied for the guarantees offered, the insurer shall submit a comprehensive documentation on such guarantee charge and demonstrate the Financial viability in their product filling documents.
