The Insurance Regulatory and Development Authority (Irda) is in the process of reviewing the entire range of unit-linked products (Ulips) that are being sold by life insurance companies. According to R Kannan, member (actuary), Irda, the review aims at increasing dissemination of information and understanding of Ulips and improving transparency. The customer should have an idea of the risks and returns on such policies when they subscribe to them, he added.
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