Important Points for IC 26 - Life Insurance Finance Exam
Page 32 Of 82
Go to:
Every insurer shall invest and at all times keep invested not loss than 20% of the investible funds belonging to pension and general annuity business in Government Securities.
In a ULIP a growth fund invests majority of it funds in equities.
Sub-standard asset is one which has been classified as non-performing asset (NPA) for a period not exceeding 12 months.
As per IRDA Regulations, the investment committee of an insurer should consist of a minimum of two Non-executive Directors.
As per the IRDA regulations, separate financial statements i.e. Revenue account and Balance Sheet are required to be prepared for participating and non-participating policies and linked and non-linked business. Furthermore, for non-linked business, separate statements are required for ordinary life, general annuity, pension and health insurance.
MODELEXAM® 
www.realsoftinfoplan.com