• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Law & Policy

Unit Linked Insurance Plan

February 15, 2021
in Law & Policy
Reading Time: 2 mins read
0
Unit Linked Insurance Plan
244
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF

In News: Recently, a committee was set up by the Insurance Regulatory and Development Authority of India (IRDAI) on the request of some insurers. The committee has recommended introducing index-linked insurance policies (ILIPs). 

About Unit Linked Insurance Plan

  • It is an acronym for ‘Unit linked insurance Plan’. 
  • This is linked to units of investment which are made in the capital and money markets. 
  • Hence, ULIPs are a combination of life insurance and market linked investment. 
  • Therefore, it provides you life cover as well as capital appreciation linked to the capital markets. In other words ULIPs are long term investment cum protection plans that offer individuals an opportunity of availing market linked returns while providing life insurance protection. 
  • Depending on the individual’s risk appetite one has the option of choosing from a host of funds having varied degrees of risk exposure.
  • In ULIPs, a part of the investment goes towards providing you life cover. 
  • The residual portion of the ULIP is invested in a fund which in turn invests in stocks or bonds. 
  • The value of investments alters with the performance of the underlying fund opted by you.
  • It was firstly introduced in 1971 by Unit trust of India with the Government of India.Then in 2005, IRDA (Insurance regulatory and development authority) had plotted the major guidelines for the insurance companies.

ULIP Structure 

  • In a ULIP ,the full amount of premium paid is not allocated to purchase units. 
  • Insurers allot units on the portion of the premium remaining after providing for various charges under the plan. 
  • Thus, the portion of premium used to purchase units varies from product to product.
  • The total monetary value of the units allocated is invariably less than the amount of premium paid because the charges are first deducted from the premium collected and the remaining amount is used for allocating units.
image_pdfMake PDF
Source: LiveMint
Tags: News PaperPrelims

Related Posts

Parliament is North Star of Democracy

Parliament is North Star of Democracy

February 6, 2023
Who are puisne judges?

Who are puisne judges?

February 2, 2023
AISHE report

AISHE report

January 31, 2023
Grievance appellate committees to address users complaints against internet-based platforms

Grievance appellate committees to address users complaints against internet-based platforms

January 30, 2023
Euthanasia and a living will

Euthanasia and a living will

January 26, 2023
What is mandatory minimum sentencing?

What is mandatory minimum sentencing?

January 26, 2023
Law on lawyers advertising their work in India

Law on lawyers advertising their work in India

January 25, 2023
What are emergency provisions under the Information Technology Rules, 2021

What are emergency provisions under the Information Technology Rules, 2021

January 24, 2023
NCERT notified India’s first national assessment regulator- PARAKH

NCERT notified India’s first national assessment regulator- PARAKH

January 24, 2023
Rural Health Statistics 2021-2022

Rural Health Statistics 2021-2022

January 23, 2023
Please login to join discussion

Our Offline Classroom Student

CONGRATULATIONS TO 2021 TOPPERS !!!

Rank 171 Kumar Shivashish
Rank 250 Sahithya
Rank 263 Sumit Kumar Thakur
Rank 311 Deepak Ramachandra Shet
Rank 455 Ravinandan B M

February 2023
MTWTFSS
 12345
6789101112
13141516171819
20212223242526
2728 
« Jan    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News News Paper Newspaper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News News Paper Newspaper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In