IRDA chairman letter to existing and prospective ULIP Policyholders

Unit Linked Insurance Products (ULIPs) offered by different Insurance Companies

In the context of the recent directions of the Securities and Exchange Board of India (SEBI) to 14 insurance companies directing them not to issue any offer document, advertisement, brochure soliciting money etc from investors, the IRDA deems it appropriate to issue the following statement.

Policyholders of the Unit Linked Insurance Products (ULIPs) offered by different insurance companies are assured that these policies are safe and secure and the matters arising out of the recent orders of the SEBI will be addressed expeditiously in the appropriate forum in accordance with Law.

/sd.-
(J. Hari Narayan)
Chairman

Place  : Hyderabad
Date    : 10.04.2010