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[Section 10]
[Entire Act]
Union of India - Subsection
Section 10(7) in The Insurance Regulatory And Development Authority (Actuarial Report And Abstract) Regulations, 2000
| GroupCode | |
| (a) CategoryCode 1—Linked Business.—Consisting of InsuranceProducts,— | |
| (1) in respect ofDivision Code 1—Individual Business, and under eachSub-Class Code— | |
| (i) withguarantees—with participation in profits: | A; |
| (ii) with noguarantees—with participation in profits: | B; |
| (iii) withguarantees—without participation in profits: | C; |
| (iv) with noguarantees—without participation in profits: | D; |
| (2) in respect ofDivision Code 2—Group Business, and under each Sub-ClassCode— | |
| (i) withguarantees—with participation in profits: | A; |
| (ii) with noguarantees—with participation in profits: | B; |
| (iii) withguarantees—without participation in profits: | C; |
| (iv) with noguarantees—without participation in profits: | D; |
| (b) CategoryCode 2—Non-Linked Business.—Consisting ofInsurance Products,— | |
| (1) in respect ofDivision Code 1—Individual Business,— | |
| (I) Sub-Class Code1—Sub-Class-Life Business,— | |
| (i) withparticipation in profits: | A; |
| (ii) with deferredparticipation in profits: | B; |
| (iii) underdiscounted Bonus system: | C; |
| (iv) withoutparticipation in profits: | D; |
| (II) Sub-ClassCodes 2, 3—Sub-Class—General Annuity/Pension, as thecase may be,— | |
| (i) ImmediateAnnuities—with participation in profits: | A; |
| (ii) ImmediateAnnuities—without participation in profits: | B; |
| (iii) DeferredAnnuities—with participation in profits: | C; |
| (iv) DeferredAnnuities—without participation in profits: | D; |
| (2) in respect ofDivision Code 2—Group Business,— | |
| (I) Sub-Class Code1—Sub-Class—Life Business, where— | |
| (i) Premiums areguaranteed for not more than one year:— | |
| (a) withparticipation in profits: | A; |
| (b) withoutparticipation in profits; | B; |
| (ii) Premiums areguaranteed for more than one year:— | |
| (a) withparticipation in profits: | C; |
| (b) withoutparticipation in profits: | D; |
| (II) Sub-ClassCodes 2, 3—Sub-Class—General Annuity/Pension, as thecase may be,— | |
| (i) ImmediateAnnuities—with participation in profits: | A; |
| (ii) ImmediateAnnuities—without participation in profits: | B; |
| (iii) DeferredAnnuities—with participation in profits: | C; |
| (iv) DeferredAnnuities—without participation in profits: | D; |
| (c) CategoryCode 3—Health Insurance Business.—Consisting ofInsurance Products,— | |
| (1) in respect ofDivision Code 1—Individual Business,— | |
| (I) Sub-Class Code1—Linked Business,— | |
| (i) withguarantees—with participation in profits: | A; |
| (ii) with noguarantees—with participation in profits: | B; |
| (iii) withguarantees—without participation in profits: | C; |
| (iv) with noguarantees—without participation in profits: | D; |
| (II) Sub-ClassCode 2—Non-Linked Business,— | |
| (i) withparticipation in profits: | A; |
| (ii) with deferredparticipation in profits: | B; |
| (iii) underdiscounted Bonus system: | C; |
| (iv) withoutparticipation in profits: | D; |
| (2) in respect ofDivision Code 2—Group Business,— | |
| (I) Sub-Class Code3—Linked Business,— | |
| (i) withguarantees—with participation in profits: | A; |
| (ii) with noguarantees—with participation in profits: | B; |
| (iii) withguarantees—without participation in profits: | C; |
| (iv) with noguarantees—without participation in profits: | D; |
| (II) Sub-ClassCode 4—Non-Linked Business,— | |
| (i) Premiums areguaranteed for not more than one year:— | |
| (a) withparticipation in profits: | A; |
| (b) withoutparticipation in profits: | B; |
| (ii) Premiums areguaranteed for more than one year:— | |
| (a) withparticipation in profits: | C; |
| (b) withoutparticipation in profits: | D; |