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[Cites 0, Cited by 0] [Section 27(2)] [Section 27] [Entire Act]

Union of India - Subsection

Section 27(2)(g) in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019

(g)Mortality or Morbidity Charge: This is the cost of life or health insurance cover. It is exclusive of any expense loadings levied by cancellation of units. This charge, if any, shall be levied at the beginning of each policy month from the fund.
(i)The method of computation shall be explicitly stated in the policy document. The mortality or morbidity charge table shall form part of the policy document.
(ii)Mortality charge table shall be guaranteed during the contract period and morbidity charges may be reviewed during the term of the policy, as per the IRDAI (Health Insurance) Regulations, 2016 or any other circular or guidelines which may be issued by the Authority from time to time.
(iii)The mortality or morbidity charge for the mortality or morbidity risk covered shall: