Mumbai: Insurance Regulatory and Development Authority of India or IRDAI in is Minimum Limits for Annuities and other Benefits Regulations said that life insurer can pay an amount of annuity of less than Rs 1,000 per month, excluding any profit or bonus.
It also said that gross sum cannot be less than Rs 5,000, except under Micro Insurance and Health Insurance Business and not less than Gross sum of Rs 1,000 for Micro Insurance and Health Insurance Business.
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