Business Standard

IRDA tells Bajaj Allianz, Aviva to stop ULIP sales

Related News

IRDA has directed Aviva Life Insurance and Bajaj Allianz Life to withdraw their unit-linked insurance products (ULIP), where charges were deducted every month.

While Aviva Life would have to withdraw all of its 14 ULIPs, Bajaj Allianz will have to withdraw one of its products.

IRDA says these products, in existence for several years now, are difficult to understand for common policyholders, against other ULIPs where the charges are deducted upfront from the premium paid.

 

Read more on:   
|

IRDA tells Bajaj Allianz, Aviva to stop ULIP sales

IRDA has directed Aviva Life Insurance and Bajaj Allianz Life to withdraw their unit-linked insurance products (ULIP), where charges were deducted every month.While Aviva Life would have to
IRDA has directed Aviva Life Insurance and Bajaj Allianz Life to withdraw their unit-linked insurance products (ULIP), where charges were deducted every month.

While Aviva Life would have to withdraw all of its 14 ULIPs, Bajaj Allianz will have to withdraw one of its products.

IRDA says these products, in existence for several years now, are difficult to understand for common policyholders, against other ULIPs where the charges are deducted upfront from the premium paid.

 
image

Read More

Going out of Citi Suvidha? Keep higher balance

Citi India’s ‘Suvidha’ salary account holders will need to maintain a monthly net relationship value of Rs 1 lakh if their salary is no longer ...

Recommended for you

Advertisements

Quick Links

More news from Finance Rss icon

Insurers to ramp up teams for grievance redressal after Irdai whip

Irdai has asked insurers to handle policyholder grievances with seriousness, promptness and empathy to enhance the trust and confidence in the ...

Securitisation volumes dip 27.6 % in FY15

Classification of priority sector lending assets and minimum margin fixed for these also reduced assets qualifying for securitisation

Kotak Bank to boost global presence

The bank recently completed the Rs 15,000-cr merger of ING Vysya Bank with it to become the fourth largest lender in the private space

Back to Top