ULIP Guidelines II

Since opening up of insurance industry to private players, unit linked insurance products (ULIPs) have undoubtedly been the most popular type of products among the flourishing private life insurers.

In December 2005 IRDA issued set of guidelines (effected from June 2006) to be adhered to in the structure of ULIPs to ensure comparability among products offered by various companies and to reduce then-prevalent short-termism in ULIPs. These guidelines have now come to be known as ULIP Guidelines and mark a milestone in product cycle of all companies.

Since then, insurance industry has only grown larger and ULIPs have particularly been coming under attack by mutual fund industry and financial press for high charge structure.

On 22nd July 2009 IRDA issued another set of guidelines, which are popularly known as ULIP Guidelines II. This time around, the focus has been on the returns achieved by the policyholder. The core principle is that the net return to the customer should not be less than a particular pre-charge return.

These guidelines are expected to affect most, if not all, products currently in the market and will undoubtedly usher in a new era of unit linked products. It remains to be seen what direction do the insurers choose and how their product decisions are met by two of the other important parties in the sale, customer and the intermediary.

Change in Examination dates for May 2009 Examination

Hi folks,

The Election commission has announced dates for the 15th Lok Sabha elections, which will be held in five
phases from 16th April to 13th May 2009 and Counting from 16th May 2009.
In view of this, it has been decided to postpone the examination by one week. The new dates of examination
are from 18th May 2009 to 28 May 2009. The revised time table can be found below.


Results for November 2008 Institute of Actuaries of India Exams out

Results for all exams of the Institute of Actuaries of India are out and can be viewed at by clicking here. Congratulations to all passing students.

Results for November 2008 exams expected on 17th Jan

The results for the actuarial exams held by Institute of Actuaries of India (IAI) in November 2008 are expected on Saturday, 17th January, at about 5:00 p.m.

Best of luck to all the students who had appeared for exams. We will keep you updated about changes, if any.

Site Upgrades

Hello all,

As so many of you had so kindly notified to me that some portions of the website were not working since past several months.
I am pleased to announce that finally I have moved to a new server and things are back up. As you may have also noticed the site is now upgraded to a faster version and some clutter has been reduced.

Unfortunately some of the user accounts (especially those registered around May) have been lost and you may have to register again.

I sincerely appreciate your feedback (and my apologies to quite a few unreplied emails in the past months), please drop in your suggestions in the forums.
Also, I have been planning some more features in the coming weeks, more on that as time comes..

DLF Ties up with Prudential

DLF, a realty player, recently announced that the company has entered into an agreement with Prudential Insurance (the US-based one, not Prudential PLC), for setting up a joint venture Life Insurance Company in India.

Dr. R.Kannan resigns as President of ASI

In a move that has caught the entire actuarial fraternity by surprise Dr. R.Kannan , the current president of Actuarial Society of India, has suddenly resigned from his position. G.N.Agarwal, Vice President, has now been elevated to the position of President.

Calcutta High Court decision on claimant of sum insured creats a stir

The Calcutta High Court recently passed a judgement in a case where it has directed the insurance company (LIC of India in this case) to split the claim amount between the dependents of the life insured despite there being just one nominee named in the policy.
This decision has created quite a buzz among the legal departments in insurance companies as it can have far reaching impact on the claims experience of the future.

Bank Of Baroda in talks with Munich Re, SocGen and Legal & General

Business Standard reports that after failed talks with Nippon Life in Japan for a join insurance venture due to Japanese regulatory issues BoB is now in negotiations stage with three European groups viz. SocGen, Munich Re and Legal & General.

IDBI's insurance venture to launch in March

IDBI is expected to launch it's life insurance venture with Fortis Insurance and Federal Bank by March this year. This would mark the entry of yet another life insurer before the financial year 2007-08 starts, heating up the competition in this rapidly heating up sector.

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