SEBI bars 14 insurers from issuing ULIPs;
Afetr a long internal discusion the Securities and Exchange Board of India (SEBI) late Friday night barred 14 life insurance companies in India from issuing unit-linked insurance products (ULIPs) with immediate effect.
These company are
ULIPs are a category of goal-based financial solutions taht combind Life Insurance and Mutual Fund also, insurance compnies get more then 70% premium from ULIP.
Afetr a long internal discusion the Securities and Exchange Board of India (SEBI) late Friday night barred 14 life insurance companies in India from issuing unit-linked insurance products (ULIPs) with immediate effect.
These company are
- Tata AIG
- S.B.I Life Insurance
- Max New York Life Insurance
- ICICI Prudential Life Insurance
- Reliance Life Insurance
- ING Vysya Life Insurance
- Kotak Mahindra Old Mutual Life Insurance Ltd.
- Bjaj Alianz life insurance
- Bharti AXA Life Insurance
- Birla Sun Life Insurance
- HDFC Standard Life Insurance
- AEGON Religare Life Insurance
- Aviva Life Insurance
- MetLife India Insurance
Life Insurance Corporation ( LIC ULIP ) is safe from this decision.
Why banned
Why banned
Actually in January and December, SEBI had issued a legel notices to these Insurance comapny , and wass ask why and how they can launched without SEBI approval and why appropriate action should not be taken against them.
What are ULIP
ULIPs are a category of goal-based financial solutions taht combind Life Insurance and Mutual Fund also, insurance compnies get more then 70% premium from ULIP.
SEBI?
