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New ULIP Guidelines: How it will affect the Investor

July 04, 2010  by: winindia  Points: 10   Category: Investment  Earning $0.20   Views: 804

Insurance regulatory and development authority (IRDA) has made some new guidelines for ULIP

         

Unit Linked Insurance Plan (ULIP) is the most sell able product of any life Insurance company.

And now days ULIP has become one of the most preferable product by common man (generally forced by Insurance advisors).

Life Insurance main motto is for securing the life but Insurance advisors suggest this is an investment .

They suggest to invest for 3 years and then exit by selling ULIP to the company which was loss for both for the policy holder also for the company as they were loosing there policy holder in short term period.

Now IRDA has made new terms that ULIP will have lock-in period of 5 years.

This regulation may not be accepted initially by common man but it is advisable to be stay longer in ULIP to get more benefit instead of short period.

One more Changes also IRDA has made that in Pension plans policy holder can not do partial withdrawal before the policy matured.




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