Insurers to exit cheap Ulips from Sept

Come September, a prospective customer of any of the life insurers will have no option but buy an expensive Ulip as the life insurers, who will be implementing the new set of stringent regulations laid down by the Insurance Regulatory & Development Authority, have decided exit cheaper Ulips. Insurers told FE they have to exit Ulips of smaller size to control operational expenses and would target more high net worth customers for selling the product. Said Rajesh Relan, CEO & MD, Metlife Insurance, the minimum annual premium on Ulips for his company will go up to Rs 30,000-36000 from the ...

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