• 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
218
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

Karnataka Lokayukta

Karnataka Lokayukta

August 15, 2022
Personal Data Protection Bill

Personal Data Protection Bill

August 15, 2022
Essential Commodities Act of 1955

Essential Commodities Act of 1955

August 15, 2022
SMILE-75 initiative

SMILE-75 initiative

August 13, 2022
International Conference on Systems Analysis for Enabling Integrated Policy Making

International Conference on Systems Analysis for Enabling Integrated Policy Making

August 12, 2022
14th Vice President of India

14th Vice President of India

August 12, 2022
AGM-88 HARM missile

AGM-88 HARM missile

August 10, 2022
PARVAZ Market Linkage Scheme

PARVAZ Market Linkage Scheme

August 10, 2022
The Electricity (Amendment) Bill 2022

The Electricity (Amendment) Bill 2022

August 10, 2022
PM and President’s photos in govt advertisements

PM and President’s photos in govt advertisements

August 9, 2022
Please login to join discussion

Our Offline Classroom Student

PRELIMS 2021 POLITY QUESTIONS ANALYSED

https://youtu.be/5q8hBcRGhAs

PRELIMS 2021 HISTORY QUESTIONS ANALYSED

https://youtu.be/v0SIZ7SUybg

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

August 2022
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
293031 
« Jul    

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 BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News News Paper Newspaper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia 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 BBC Business Standard CNN Deccan Herald DownToEarth Down to Earth DTE Economic Times ET GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express India today Indiatoday Kurukshetra LiveMint Mains News News Paper Newspaper PIB PIB & The Hindu pre Prelims PRS India RSTV Science Reporter Survey The Hindu The Hindustan Times The India Express The Indian Express The New Indian Express Times of India TOI TOPPERS UNDP website Wikipedia 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