IRDAI circular IRDAI/F&I/CIR/EOM/84/4/2023 · 05 Apr 2023
Official title
IRDAI (Expenses of Management of insurers transacting Life Insurance business) Regulations 2023 - Clarifications
Summary
Check the official recordThe Insurance Regulatory and Development Authority of India clarifies specific provisions within the IRDAI (Expenses of Management of insurers transacting Life Insurance business) Regulations 2023. The authority amends the interpretation of First year Regular Premium to apply to policies with a premium payment term of 10 years and above. Additionally, the authority corrects the allowable expenses of management percentage mentioned in Part II of the regulation. The value 0.05 is now read as 0.02 to align with the one-fiftieth of one percent requirement.
What you must do
Who is affected
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[Image omitted. See the official document.] भारतीय बीमा विनियामक और विकास प्राधिकरण INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA
परिपत्र सं.आईआरडीएआई/एफ&आई/सीआईआर/ईओएम/84/4/2023 दिनांक: 05 अप्रैल 2023 Cir No. IRDAI/F&I/CIR/EOM/84/4/2023 Date:05^th April 2023.
परिपत्र CIRCULAR
विषय: आईआरडीएआई (जीवन बीमा व्यवसाय करनेवाले बीमाकर्ताओं के प्रबंधन व्यय) विनियम, 2023 – स्पष्टीकरण। Reg.:IRDAI (Expenses of Management of insurers transacting Life Insurance business) Regulations 2023 - Clarifications.
विनियम 10 की अनुसूची-I के भाग क की क्रम सं. 1(ii)(क) Sl.No.1(ii)(a) of Part A of Schedule I of Regulation 10
विनियम 10 की अनुसूची-I के भाग क की क्रम सं. 11(i) Sl.No.11(i) of Part A of Schedule – I of Regulation 10
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(अम्मु वेंकटरमणा / Ammu Venkata Ramana) महाप्रबंधक (वित्त व निवेश) / General Manager (F&I)