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ULIP Ban: SEBI ban on ULIP by 14 companies 2010

Securities and Exchange Board of India has banned Unit Linked
Insurance Products (ULIPs) of 14 Indian companies since, the ULIPs launched by the comanies were found to be akin to the mutual fund schemes and were launched without obtaining registration from the Securities and Exchange Board of India

The companies include
a. Aegon Religare Life Insurance Company Limited
b. Aviva Life Insurance Company India Limited
c. Bajaj Allianz Life Insurance Company Limited
d. Bharti AXA Life Insurance Company Limited
e. Birla Sun Life Insurance Company Limited
f. HDFC Standard Life Insurance Company Limited
g. ICICI Prudential Life Insurance Company Limited
h. ING Vyasa Life Insurance Company Limited
i. Kotak Mahindra Old Mutual Life Insurance Limited
j. Max New York Life Insurance Co. Limited
k. Metlife India Insurance Company Limited
l. Reliance Life Insurance Company Limited
m. SBI Life Insurance Company Limited
n. TATA AIG Life Insurance Company Limited

View the Order of Whole Time Member in the matter of ULIP

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