ULIP EXPOSURE IN MONEY MARKET DOUBLED

In a bid to enhance the flexibility in the operations of the Unit-Linked Products (ULIPs), the Insurance Regulatory and Development Authority (IRDA) has decided to raise the limit of investment into money market instruments. IRDA said that they would enhance the share of money market instruments to 40% of the total (for each policy holder) from the existing 20%. These new limits will be applicable for all insurance companies from February 20 this year.