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9[4. Minimum limits for annuities and other benefits secured by policies of life insurance.-

The insurer shall pay or undertake to pay on any policy of life insurance or a group policy issued, a minimum annuity and other benefits as may be determined by regulations excluding any profit or bonus provided that this shall not prevent an insurer from converting any policy into a paid-up policy of any value or payment of surrender value of any amount.]

Insurance Act, 1938 Back

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