"These plans coexist with Ulips, as customers need both products that offer a guarantee and those that offer equity exposure," says Madhu Burugupalli, senior executive vice-president and head of products, Bajaj Allianz Life Insurance.
Understanding non-par plans
There are two types of investment-cum-insurance products: Linked and non-linked. Linked plans depend on market performance while non-linked plans are unaffected by market fluctuations.
Non-linked plans can be further categorised into participating and non-participating. "Returns of participating plans depend on the insurance company's profit pool, which is shared with policyholders.
Non-participating plans offer guaranteed returns that are known upfront," says Deepesh Raghaw, a Securities and Exchange Board of India (Sebi)-registered investment advisor.
This story is from the December 26, 2024 edition of Business Standard.
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This story is from the December 26, 2024 edition of Business Standard.
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