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Indian insurance companies increase mortality charges

Life insurers deal a mortal blow, The Telegraph – Calcutta (Kolkata) | Business SRIKUMAR BONDYOPADHYAY Calcutta, Sept. 26: Life insurers have tossed ethics out of the window, and the insurance regulator seems to be looking the other way.In a concerted move, a number of life insurance companies have quietly increased the mortality charges on their unit-linked plans (Ulips) from September 1.

The Insurance Regulatory and Development Authority (IRDA) didn’t find anything wrong with that and cleared a passel of new plans recently.

The move is another blow for investors in Ulips — the product that stormed the mutual fund bastion a couple of years ago and sparked a tussle for regulatory oversight between the IRDA and capital market watchdog Sebi earlier this year……..From September 1, the insurers have increased the mortality premium rates for each age category steeply compared with the Ulips they sold before.

The Telegraph – Calcutta (Kolkata) | Business | Life insurers deal a mortal blow

September 27, 2010 - Posted by Christina Macpherson | business and costs, India | AUSTRALIA, nuclear costs, nuclear spin