Section 35(f) in Insurance Regulatory and Development Authority of India (Non-Linked Insurance Products) Regulations, 2019
(f)For the purpose of these Regulations, for par and non-par group savings products:(i)If the amount to be paid on total exits during the policy year exceeds 25% of the policy account values as at the beginning of the year, such transactions shall be treated as bulk exits, where exit shall be as per the scheme rules and(ii)Exit shall mean exit of the member from the group.
