Question
What is the primary purpose of the Insurance Regulatory
and Development Authority of India (IRDAI) approving the reduction of interest rates for revivals or policy loans?Solution
The Insurance Regulatory and Development Authority of India (IRDAI) approved the reduction of interest rate for revivals or policy loans, among others. These are applicable to existing policies that were closed for new business but still exist on insurers' books The alterations are introduced to give additional benefits and flexibility to existing policyholders, ensuring they are not adversely impacted. The insurance regulator has decided to allow the addition of existing riders which are open for sale, the addition of premium payment modes, reduction in interest rate for revivals or policy loans, and the addition of one or more payment frequencies to income benefits payable to policyholders.
Average age of a class of 25 students is 13 years. Average age of the class is increased by 30 months if the age of the teacher is included. Find the ag...
A player scored an average of 58 runs per match in the first 30 matches. In his next 10 matches, he scored runs with an average of ‘x’ runs per matc...
Sum of ages of 60 students is 900 years such that the average age of 25 of them is 10 years and average age of another 25 of them is 14 years. Find the ...
The average of five even numbers is 60. If we replace two of these even numbers, 84 and 92, with a single even number X, the new average decreases by 4....
In an examination, the average marks obtained by the students is 60. After correcting the quantitative mistakes, the average of 100 students is reduced ...
The average age of a group of four children is 11 years. From the group, one child, whose age was 6 years more than the average age, left. Four new chil...
An English-based company has 625 men and 625 female employees in a collaborative project. The average attendance of all employees is 74 calls per day. O...
- In a community park, the ratio of the number of benches, swings, and slides is 4:3:2, respectively, and the average number of these items is 60. What is th...
A car covers a distance of 60 km at a consistent speed. If the car's speed is increased by 8 km/h, it would take 2 hours less to travel the same distanc...
Average weight of a group of ‘x’ persons increased by 1 kg when a person weighing 70 kg joined. Later, the average increased by 1.6 kg when two pers...
