Sentences with phrase «pension product guidelines»
Several private insurance companies are mulling offering new pension schemes after IRDA (Insurance Regulatory and Development Authority) revised pension product guidelines and removed the 4.5 per cent return guarantee requirement.
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Further, all top up premiums made during the currency of the contract, except for pension / annuity products, must have insurance cover treating them as single premium, as per the new guidelines.
As a part of the periodic review of regulatory guidelines for various products, the Insurance Regulatory & Development Authority (Irda) made life cover an integral part of all policies, including pension.
Though the pension plan can be structured in many different ways, every pension product needs to adhere to guidelines for pension products laid down by IRDA, the insurance regulator.