New Ulip norms will disrupt performance: life insurers

Life insurers have sharply reacted to the new norms set by the Insurance Regulatory & Development Authority (Irda). The regulator has drastically modified the unit linked insurance plans (Ulips), which have been popular with customers as investment-linked insurance plans. Life Insurance Council secretary general SB Mathur said though there is a lot of protection for customers now, some of the steps taken by Irda are very harsh to the life insurers and go against the fundamentals of Ulips. The higher the risk, the lesser was the return and hence guaranteed return of 4.5% will be difficult task before the insurers. ...

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