Ulips: How IRDA is passing the buck
Has the Insurance Regulatory and Development Authority of India finally woken up to all the mis-selling that is happening? Well, it would like us to believe it has. But the truth of the matter is that it hasn't.
IRDA has thought of a new way to prevent the mis-selling of Unit Linked Insurance Plans (Ulips).
From now on, individuals investing in a Ulip, will have to sign a one-page document. This document will say that the individual is satisfied with what the agent has communicated and that buying the Ulip has been an informed choice.
Has the Insurance Regulatory and Development Authority of India finally woken up to all the mis-selling that is happening? Well, it would like us to believe it has. But the truth of the matter is that it hasn't.
IRDA has thought of a new way to prevent the mis-selling of Unit Linked Insurance Plans (Ulips).
From now on, individuals investing in a Ulip, will have to sign a one-page document. This document will say that the individual is satisfied with what the agent has communicated and that buying the Ulip has been an informed choice.
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