https://www.taxtmi.com/acts?id=55640 Life insurance mathematical reserves must be determined for each policy using prospective valuation, reflecting future premium and benefit contingencies, policyholder bonus expectations, options, guarantees, and prudent assumptions incorporating a Margin for Adverse Deviations. Gross Premium Valuation is the usual method; permitted alternative approximation methods cannot yield lower reserves. The gross premium method discounts material future cash flows, including premiums, benefits, bonuses, commissions, expenses, shareholder allocations where linked to bonus rates, and tax. Options and guarantees are valued as special cash flows. en-us Mon, 21 Sep 2026 16:50:16 +0530 Mon, 21 Sep 2026 16:50:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=55640 Life insurance mathematical reserves must be determined for each policy using prospective valuation, reflecting future premium and benefit contingencies, policyholder bonus expectations, options, guarantees, and prudent assumptions incorporating a Margin for Adverse Deviations. Gross Premium Valuation is the usual method; permitted alternative approximation methods cannot yield lower reserves. The gross premium method discounts material future cash flows, including premiums, benefits, bonuses, commissions, expenses, shareholder allocations where linked to bonus rates, and tax. Options and guarantees are valued as special cash flows. Act-Rules Indian Laws Mon, 21 Sep 2026 16:50:16 +0530 https://www.taxtmi.com/acts?id=55640