Thursday, August 29, 2019

Did you know life insurance rules have changed?

On new ULIPs, the minimum sum assured will be less than 10 times the premium

IRDAI (Insurance Regulatory and Development Authority of India) issued a notification on new regulations in ULIPs (unit linked insurance plans) and traditional insurance policies, a few weeks back. Of the several changes, the move to reduce the minimum sum assured (SA) in ULIPs and a guaranteed surrender value for traditional policies from the second year, were prominent.

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