Traditional endowment policies set to get cheaper, better

Traditional endowment policies set to get cheaper, better

If you are looking to buy a traditional endowment policy, it's best to wait till next year. Not only will you get a better product, you will also pay less commission to your insurance agent. Traditional endowment policies are set to get cheaper and better.

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Chandralekha Mukerji
  • Dec 21, 2013,
  • Updated Dec 21, 2013 3:36 PM IST
If you are looking to buy a traditional endowment policy, it's best to wait till next year. Not only will you get a better product, you will also pay less commission to your insurance agent. The Insurance Regulatory and Development Authority (Irda) has made changes in the structure of traditional life insurance investment plans . Insurers have time till January 1 to refile modified plans that comply with the new norms. or VIPs. Since these are marketlinked products, VIPs will also have cost caps. Also, the penalty for surrender will be low.

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If you are looking to buy a traditional endowment policy, it's best to wait till next year. Not only will you get a better product, you will also pay less commission to your insurance agent. The Insurance Regulatory and Development Authority (Irda) has made changes in the structure of traditional life insurance investment plans . Insurers have time till January 1 to refile modified plans that comply with the new norms. or VIPs. Since these are marketlinked products, VIPs will also have cost caps. Also, the penalty for surrender will be low.

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