Future uncertain for NAV guaranteed ULIPs

Unit linked insurance plans (Ulips) with guaranteed NAVs (net asset values) are back in focus. The preferred insurance product of many cautious individuals is under the scanner of the Insurance Regulatory and Development Authority (Irda). At a recent insurance conference in Mumbai, the Irda chief J Hari Narayan said, “We are examining it because my concern is that the highest NAV guaranteed product may lead to miscommunication. We want to understand the entire issue before taking a call.”

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