News From Press ULIP in India: A good concept hit by mis-selling

ULIP in India: A good concept hit by mis-selling

Source: ET Jun 17, 2016

Unit Linked Insurance Plan (ULIP) is one of the most abused financial products in India now. However, ULIP, where you get the insurance and investment together, was not a bad word earlier.

Unit Trust of India (UTI) launched the first ULIP in India in 1971. Second ULIP came from LIC Mutual Fund in 1989, ie after the MF industry was opened for PSU entities. Both were well managed schemes and I have not came across any investor complaining about them.

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