Section 11(b) in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019
(b)The insurer, at the time of revival:(i)Shall collect all due and unpaid premiums without charging any interest or fee.(ii)May levy policy administration charge and premium allocation charge as applicable during the discontinuance period. Guarantee charges, if applicable during the discontinuance period, may be deducted provided the guarantee continues to be applicable. No other charges shall be levied.(iii)Shall add back to the fund, the discontinuance charges deducted at the time of discontinuance of the policy.
