ULIP Charges and Greed are synonyms for each other. ULIP (Unit Linked Plan) is a perfect case study of How Greed Kills. Greed is always both ways i.e. Banks/Insurance Provider's greed to sell more and Greed of investor for higher returns. ULIP was launched in 1971 but all the mess in ULIP started after private life insurers entered in 2000. ULIP misselling became so rampant that IRDA (Insurance Regulatory and Development Authority) had to step in. IRDA came up with regulations for ULIP to control ULIP charges in September 2010. I still remember that for few ULIP products, large portion of ... Read More
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