What is the tenure for the Chairperson and other whole-time members of the Authority, according to the IRDA Act?

Section 5.   Tenure of office of Chairperson and other members: (1) The Chairperson and every other whole-time member shall hold office for a term of five years from the date on which he enters upon his office and shall be eligible for reappointment: Provided that no person shall hold office as a Chairperson after he has attained the age of sixty-five years: Provided further that no person shall hold office as a whole-time member after he has attained the age of sixty-two years.