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SEBI restricts ULIP schemes of Insurance Companies
in Current Affairs & Latest News
Securities & Exchange Board of India has directed fourteen Life Insurance companies not to further issue Unit Linked Insurance Policies. It may be recalled that most companies are deriving seventy percent of funds from these policies.
The share market experts believe that this will have a dampening affect on stock market.
The step is welcome as the funds of investors in insurance policies should not be subjected to high speculative risk.

G. K. Ajmani Tax consultant
http://gkajmani-mystraythoughts.blogspot.com/

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    This is a good decision taken because due to ULIP banks were facing so many pressures and problems and Insurance companies were making good money from it, as the risk is of customers
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    Take AVIVA....its all products are based on ULIP plans.they are confusing regarding their fees structure that a normal person can't understand a little bit.
    Insurance should not be a option for high return savings.people take it as a Insurance not as a savings.you will get better returns in PLI of post office. :)
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    The Life Insurance companies are selling their schemes as investment and not as insurance. This confuses the policy holders. One should take insurance policy only for protection of his dependents in unfortunate even of his death. so, the low premium and high death benefit policy only should be preferred.

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    If you want insurance.then go for Term policies.they are low in premium and high in insurance. :)
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    Gulshan Insurance company never sell ULIp plans to customer but the agents or advisors sell it to the customer to get maximum commission,So we should not blame any company
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    Bhanu You are 100% right most of the people are not aware about TERM INSURANCE.
    under which you can get coverage of RS20 lakh death benefit by paying the premium just Rs5000 per year. But the condition is that if the person do not die they will not get refund any premium they have paid but still it is more valuable to Insured person
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    Dear members Insurance is very good key word in Google search engine and I think this forum can get us some traffic.
    If any member has any doubt post your question here I will try my best to give you a satisfy answer
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    The decision of the SEBI has nothing to do putting restriction on investment in ULIP schemes by the Insurance companies and it is just a procedural lapse on the part of these insurance companies and once they get these schemes registered with SEBI these would be back again!!
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    DSoubhagya Das- An agent acts on behalf of principal. A company is bound by the act of agent, who promotes company business. Personally, I feel that insurance companies should be allowed to issue only Term Insurance policies that pay death benefit but no survival benefit. this is like motor insurance policy, where you get payment only for actual loss.
    But the main issue is that this is tug of war between SEBI and IRDA. This is really very unfortunate. The Ministry of Finance should issue necessary directive to IRDA and SEBI to resolve the issue.

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    Gullshan Ministry of finance has instructed to SEBI and IRDA to resolve the matter with out Ministry of finances interfere .
    This will resolve soon but I dont understand why SEBI open his mouth after 9 year and why IRDA saying to Insurance company no need to stop selling keep on selling ULIP.

    They both authority want to show there importance
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