Policyholders have kept up their purchases of new unit-linked insurance plans (Ulips), expecting better returns from the stock market as the Indian economy recovers, recording a 26% rise in new income in the last financial year.
Premiums collected from regular Ulips rose to Rs 13,302 crore from Rs 10,565 crore in FY15. Aided by Life Insurance Corporation of India (LIC) , singlepremium, traditional plans saw a jump of 31.4% in the new business income. LIC launched its first Ulip at the end of the last fiscal.
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