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Union of India - Section

Section 29 in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019

29. Difference between Gross Yield and Net Yield for all Unit Linked insurance products.

(a)While filing the product, the insurer shall demonstrate that, the maximum reduction in yield for policies for each year starting from end of the fifth policy year until end of the policy term shall be in accordance with the Table 29 a.
Table: 29 a.
Number of years completed since inception Maximum Reduction in Yield (Difference betweenGross and Net Yield (% p.a.))
5 4.00%
6 3.75%
7 3.50%
8 3.30%
9 3.15%
10 3.00%
11 and 12 2.75%
13 and 14 2.50%
15 and thereafter 2.25%
(b)For the purpose of demonstration of maximum reduction in yield as stipulated in Table 29(a) above, the insurer shall demonstrate in the filing documents the compliance to reduction in yield for gross investment returns as required by the Authority from time to time for all representative model points. Currently, the gross investment return for the purpose of such demonstration is 6% p.a., 8% p.a. and 10% p.a.