CHANGE IN SHAREHOLDING PATTERN AND MANAGEMENT CONTROLInternational Financial Services Centres Authority (Management Control, Administrative Control and Market Conduct of Insurance Business) Regulations, 2023
CHANGE IN SHAREHOLDING PATTERN AND MANAGEMENT CONTROLInternational Financial Services Centres Authority (Management Control, Administrative Control and Market Conduct of Insurance Business) Regulations, 2023
Regulation 17 - Minimum Limits for Annuities and other Benefits
International Financial Services Centres Authority (Management Control, Administrative Control and Market Conduct of Insurance Business) Regulations, 2023 Chapter IV MARKET CONDUCT
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Minimum annuity benefit limits require insurers to design needs-based pension products and meet prescribed payment thresholds. Every IIO permitted to transact life insurance business and dealing with pension and annuity products must design those products to address policyholders' ... Summary
Minimum annuity benefit limits require insurers to design needs-based pension products and meet prescribed payment thresholds.
Every IIO permitted to transact life insurance business and dealing with pension and annuity products must design those products to address policyholders' actual needs rather than operate as symbolic offerings. An IIO dealing with pension and annuity products must not pay or undertake to pay less than the minimum amount specified by the Authority.
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