ltd has launched the "Max New York Life Unit Builder" T, a flexible
Unit Linked Insurance Plan (ULIP) which offers secure returns even during market volatility.
UNIT LINKED INSURANCE PLANS ( ULIPS) It is a market- linked insurance scheme with a lock- in period of five years.
It is expected to remove most of the categories of exempted income like
Unit Linked Insurance Plans (ULIPs), Equity Mutual Funds (ELSS), Term deposits, NSC (National Savings certificates), Long term infrastructures bonds, house loan principal repayment, stamp duty and registration fees on purchase of house property will loose tax benefits.
It was at that time India's Insurance Regulatory and Development Authority (IRDA) mandated a change in the lock-in period for
unit linked insurance plans (Ulip) from three years to five.
Earlier taking the SEBI head-on, IRDA had asked insurance firms to continue selling
Unit Linked Insurance Plans (ULIPs), a day after the capital market watchdog barred 14 insurers from selling these products without its approval.
Of late, we have also noticed a shift from
unit linked insurance plans ( ULIP) to general insurance products." At present, Max has 6.5 per cent share of the insurance market.