New guidelines have made Ulips customer friendly

After the new norms on unit-linked insurance plans (Ulips) came into effect last month, the product has turned into a long-term vehicle for life cover and investment and will now be attractive to long-term investors, says V Philip, chief operating officer, Bajaj Allianz. In an interview with FE s Saikat Neogi, he says the increased lock-in period will, in a way, reduce mis-selling since investors will seek more protection and investments for longer periods. Excerpts: Now that new norms have been introduced, do you think customers will treat Ulips as another mutual fund product? What will happen to the existing customers ...

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