What to do with your ULIPs Hindu Business Line
What to do with your ULIPsIf you have taken a ULIP to meet any of your financial goals, you should not stop paying the annual premium.
Suresh Parthasarathy
The dispute between regulators over unit linked insurance plans (ULIPs) marketed by insurance companies has left many investors confused. Here's an FAQ to address some of the doubts that investors may have:
What is the status of my existing ULIP after the SEBI ban? Should I continue to pay my renewal premium? Will it be accepted?
With both the regulators agreeing to jointly seek a binding legal mandate from a Court in this matter, there is as of now no change in the status of your ULIP.
If you have taken the ULIP to meet any of your financial goals, you should not stop paying the annual premium. The insurance companies will continue to accept the renewal premium.
SEBI's clarification this week also exempts ULIPs existing as on April 9, 2010, from the earlier ban.
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