IRDA circular on Variable Insurance Products

Circular No. IRDA/ACT/CIR/VIP/171/10/2010, dated 21-10-2010

Enclosed are the draft guidelines on Variable Insurance Products. Insurers are requested to send their comments on these guidelines on or before October 31,2010 so that the Authority can issue final guidelines on or before November, 4, 2010.

A separate circular is being sent to all insurers where current Universal life products are cease to exist since the close of business on October 22, 2010. Hence, finalizing the guidelines on the above set of products assume significant importance.