To

The CEOs of Life Insurers

Submission of Health Premiums by Life Insurers

Insurers are aware that a number of life insurance companies are offering health insurance products in a significant way. The premium underwritten towards some of the products could partially include benefits under section 80 D of the Income tax Act, 1961 based on the approvals granted by the Authority.

With a view to capturing the premium so underwritten by the life insurers in the health segment, it is now proposed to modify the Compliance Certificate submitted along with the monthly data on First Year premiums (placed at Annexure). Under Para I of the Certificate, insurers shall submit the details of the health premium underwritten as under:

* “Of this (Total), the premium underwritten towards health segment providing benefit under Section 80 D of the Income tax Act is Rs………..lakh.

In case the said information is ‘NIL’, it may be indicated accordingly.

These instructions are effective for filing effective month March, 2008 to facilitate capturing of statistics for the financial year 2007-08.

Kindly acknowledge receipt.


Yours faithfully,

 

(C. R. Muralidharan)
Member

     

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