LOK SABHA
The Insurance Regulatory & Development
Authority (IRDA) has reported that vide its circular dated 01.01.2008, it has
directed all insurance companies
to provide policyholders the details of various
charges deducted from the premium and the amount available for investment in each
policy year at the time of purchasing the Unit Linked Insurance Plans.
IRDA has reported that action would be taken against the insurance
companies not complying with its instructions under Section 3 of the Insurance
Act, 1938.
The amount collected
by the insurance companies through ULIP for the year 2006-07 is Rs. 55,038 crore and investment
in various sectors of the ULIP Portfolio as on 31st March, 2007 is as under:
|
Investment made in various
sectors | Amount (Rs. In crore) |
| Government Securities and Guaranteed Bonds |
9,725.09 |
| Infrastructure |
3,685.10 |
| Debentures & Bonds |
3,219.05 |
| Equity |
34,499.23 |
| Others |
17,774.16 |
| Total |
68,902.62 |
This information
was given by Shri Pawan Kumar
Bansal, Minister of State for Finance in reply to a
question raised by Shri Bachi
Singh Rawant ‘BACHDA’ in Lok
Sabha on 10th March,
2008.
BSC/SS/GN- 50/08
(Release ID :36155)