Section 5(b) in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019
(b)The table 5.c below specifies the minimum sum assured under Unit Linked insurance products where:(i)AP is Annualized Premium selected by the policyholder at the inception of the policy excluding the taxes, rider premiums and underwriting extra premium on riders, if any.(ii)SP is the Single Premium which is chosen by the policyholder at the inception of the policy, excluding the taxes, rider premiums and underwriting extra premium on riders, if any.
