How ULIPs Became The Raging Bull

If you have had walked into the banks between 2000 and 2008, a corporate agent, at some point, must have pitched you an Unit Linked Insurance Plan (ULIP). In lure of earning huge commissions, they would often provide half-baked information to investors and two of the common tricks they would often use - ULIPs give more returns than the bank fixed deposits and it would double your money in three years. Investors, unaware of the high front loading that came with ULIPs during its initial years, lost more than half their money when the market crashed in 2008. Enough damage was already done when in September 2010 the Insurance Regulatory Development Authority (IRDA) acted upon what was happening and introduced a slew of new norms governing the way the ULIPs were operating. Today, however, ULIPs has come a long way from its reputation of being a mis-sold product. With new guidelines such as...