IREC Rule No.933: Payment Of Bonus On Insurance Policies
- Payment Of Bonus On Insurance Policies:-
The subscribers shall not, during the currency of the policy draw any bonus, the drawal of which during such currency is optional under the terms of the policy, and the amount of any bonus which, under the terms of the policy the subscriber has no option to refrain from drawing during its currency, shall be paid forthwith into the fund by the subscriber or, in default, recovered by deduction from his emoluments by installments or otherwise as the authority competent to sanction an advance under Rule 923 may direct.