How does the SEBI ULIP ban affect me?

SEBI banned 14 ULIPs in India and I am invested in Bajaj Allianz which hapens to be one that SEBI has banned. I have been investing for the past 3 years through monthly SIP. Do I continue paying? Should I Stop? Pull out? Please advice.

2 Replies to “How does the SEBI ULIP ban affect me?”

  1. Due you have any premium due shortly. Usually almost all the policies have a grace period for paying renewal premium without penalty. In fact, SEBI has not imposed any permanent ban on ULIPs, it has restrained insurance companies from collecting new or additional premiums on ULIPs till they obtain the requisite certificate of registration from SEBI. Now that IRDA has decided to challenge it you should use the grace period to wait and watch. If IRDA wins then there is nothing to worry, if SEBI wins the insurers have to obtain the registrations from SEBI. In either case the dispute will be settled. So please have patience.

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