Just under two weeks ago, the ministry of finance had located the ball in the Insurance Regulatory Development Authority’s (IRDA’s) hand, creation IRDA the sole regulator for unit linked insurance plans (ULIPs).
In a circular issued on June 28, 2010, the regulator notified a number of changes to the configuration and framework of ULIPs that are usually helpful to customers, but with some care.
These changes, that will be successful in all ULIP sales from September 1 this year, plan to address the issues that were being highlighted by critics and customers alike. Here we take a look at them
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