Best Ulip Insurance Policy, which not
long ago were the darling of insurance brokers, have fallen out of favour among
intermediaries after the new norms for the product came into effect from
September 1, 2010.
It is no longer as lucrative for brokers
to sell best Ulip insurance policy after the Insurance Regulatory and
Development Authority (Irda) placed severe restrictions on upfront commissions
and charges, which prior to the new norms at times shaved off the entire first
year premium paid by a policyholder.
Often investors had to wait for years to
recover their initial investment. Under the new norms, Ulip insurance policy
are now clearly structured to favour the consumer. With far less being deducted
from the premia compared to pre-September 2010, more is invested, thereby
holding out potential for higher returns. The regulator has also stipulated
higher minimum insurance covers on Ulips while they have been positioned as
long term products with longer lock-in stipulations.
So are you thinking of setting aside
some of your money for purchasing Best Ulip
Insurance Policy? With brokers not willing to reach out to you to push
the products and explain their features, you might find it difficult to decide
on which one to settle for. We lend you a helping hand. In the following pages
we provide you a comprehensive guide on how to look at Ulips.
With their present structure, Ulips
could be good investments, provided you are willing to take a long term call.
[source: http://businesstoday.intoday.in/story/new-irda-rules-on-ulips-to-favour-investors/1/16580.html]
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