A) Variable insurance plans
B) Unit Linked insurance plans
C) Both A & B
D) None of the above
✅ ANSWER: C
As per IRDA, Variable insurance plans and Unit Linked insurance plans non-traditional products are permitted to be sold. Variable life insurance is a permanent life insurance policy with an investment component. The policy has a cash value account, which is invested in a number of sub-accounts available in the policy. Unit linked insurance plan(ULIP) is a market-linked product that aggregates the very best of investment and insurance. It is a plan which is linked to the capital market and offers flexibility to invest in equity or debt funds as per risk appetite.
As per IRDA, Variable insurance plans and Unit Linked insurance plans non-traditional products are permitted to be sold. Variable life insurance is a permanent life insurance policy with an investment component. The policy has a cash value account, which is invested in a number of sub-accounts available in the policy. Unit linked insurance plan(ULIP) is a market-linked product that aggregates the very best of investment and insurance. It is a plan which is linked to the capital market and offers flexibility to invest in equity or debt funds as per risk appetite.