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

Quick Links

More news from Finance Rss icon

StanChart doubles profit in FY15

Closes gap with Citibank but asset quality worsens

SBI to reward customers for repaying loan on time

Launches loyalty programme Rewardz, that offers reward points for various types of banking transactions

Personal loan, credit card see growth

Bankers said data from credit bureaus and stringent underwriting norms have giving them confidence to grow these segments

Back to Top