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Whole Life Insurance

Insurance is one of the greatest inventions in the world but people don’t understand how much unhappiness could be avoided if they plan for the whole life insurance at the most suitable time. This can easily happen in present situation that people die without any warning then it is very hard time to your family to survive in present time.
But if you had taken the time and effort to secure adequate insurance defense then your family doesn’t really need to worry about how they will pay the money or put food on the table. Now the LIC plans to shift focus away from ULIPs.The share of unit-linked insurance products (ULIPs) in Life Insurance Corporation’s new commerce is predictable to come down by 5-6 percent this year. Because the focus point of the corporation on conventional products and hopes to add to their share in the total business to 40 percent from 35 percent now.
According to Mr. D. K. Mehrotra, Managing Director, LIC, the ratio for the corporation would be 60:40, i.e.; 60 per cent ULIPs and 40 per cent conventional products.” For the past three years ULIPs were driving the entire business. Even for us it was 85-87 percent of the total industry. From this level, we came down to around 65-66 percent last fiscal. The ratio I think would be 60:40,” Mr. Mehrotra told industry Line.

In the long term, there should be more dependence on conventional products as they give the intermediaries a regular income and are also a source of long-term inflow of money that can be used for investment purposes, said Mr. Mehrotra .Mr. Mehrotra. Said, “We hold a number of good traditional products. This year we are trying to move them. Jeevan Anand is a good product. We have some great policies for children and women. For the past three years, the market was set by ULIP and the time was not right for these products. But now the time is right for conventional products”.

This entry was posted on Tuesday, May 25th, 2010 at 2:02 am and is filed under Life Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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