1[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.]
1. Subs. by Act 5 of 2015, s. 8, for section 4 (w.e.f. 26-12-2014).