I have two questions. But first read the background: The IRDA has tightened the norms on all unit linked insurance plans (ULIPs) to offer life cover on these products and that they should offer a minimum sum assured payable on…
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Ranjan Varma's Blog
Learning and Sharing Things Around Books, Mind and Money
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Adding Insurance to ULIP Now?
Whether Disclosure of Commissions by Agents Will Work?
This post continues on what I posted two days back on IRDA asking Agents to disclose commission. A friend told me that the idea looks very good on paper, but practical implementation is very difficult. Let’s see how. The Irda…
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IRDA Asks Agents to Disclose Commissions
The uproar about the incentives to Agents continues. IRDA has told insurers to disclose explicitly the commission in the `benefit illustration’, a document that contains the benefits due to a policyholder upon maturity of an insurance policy. A signed copy…
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Posted in Financial Awareness, Insurance
ULIP: Policy Administration Charges Instead of Premium Allocation Charge
DNA has a report on ULIPs and how some insurance companies are charging as high as 48% of first year premium towards policy administration charges. Earlier, insurers used to deduct a substantial portion of the premium being paid in the…
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Posted in Financial Awareness, ULIP
Who’s the Villain in the ULIP Drama
The Unit-Linked Insurance Plans (Ulips) spat (Link 1, 2 ) between Regulators has dubbed the insurance companies and their Agents as the villains. However, to my mind, there is another character in the plot who is equally to blame for:…
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Strange Insights About the Insurance Industry
I was reading an article/interview in the Hindu Business Line about the incentives structure in Insurance industry in India. Am intrigued at the insights given by “Experts” such as the following: 1. To the average Indian, insurance is still sold…
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Posted in Financial Awareness, Insurance
The ULIP Saga: Perspectives of an Ordinary Indian
Amid all the ULIP hoopla in the media, (on my blog too) I got a call yesterday from a distant relative asking me whether it’s a good idea to invest in, what else, a ULIP! When I asked him whether…
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Posted in ULIP
