• Dr. Roshan Lal Rohilla

Investment in Unit Linked Insurance Plan of both public and private life insurance players offer four solutions with one product i.e. insurance, investment, income tax saving and unlimited switches; some companies are also offering benefit of health rider with this plan on payment some extra amount of premium, it is having the feature of insurance as well as mutual fund. Encashment of this product is subject to value of NAV at the time of encashment or at maturity, but sum assured along-with NAV value will be paid only in the event of death, the same will be calculated by multiplying rate of NAV prevailing on the day of surrender or maturity with number of units, the sum so arrived will be paid. However, product like this feature had started by the insurance companies in the year 1960, but formally ULIP product was launched by the then Unit Trust of India in 1971 and by LIC in 1989, but ULIP was not a popular product till 2010 when IRDAI started regulating and management of this product, since then IRDAI issued number of guidelines for regulating this product, but it started gaining momentum after enactment of the amendment in 2017, when the popular amendment came into force that total premium paid to the insurer will be invested in the market instruments after deduction of 1.35 percent, this means no charges shall be levied for insurance and administration charges, further mortality charges deducted, if any shall be reimbursed at the time of maturity. Since ULIP products are based upon the investment in the capital market, therefore, there is no guarantee of return in these products, however. In the present study an emphasis has been made to compare the ULIP products issued by public and private life insurance players, it has been concluded that ULIP products comprising more than 75 percent investment in equity product are perfectly affected by the movement of the BSE, SENSEX, further it is concluded that the major share of ULIP products are being sold by private life insurance players.

"Comparative Analysis of Unit Linked Insurance Plan", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 12, page no.d188-d197, December-2022, Available :http://www.jetir.org/papers/JETIR2212328.pdf

"Comparative Analysis of Unit Linked Insurance Plan", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 12, page no. ppd188-d197, December-2022, Available at : http://www.jetir.org/papers/JETIR2212328.pdf