Life has become easier for tech-savvy Indian consumers looking for the best deal in unit linked insurance policies (ULIP), thanks to a new service introduced by the Insurance Regulatory and Development Authority (IRDA).
According to the IRDA, its new service enables consumers with an internet-enabled mobile device to check and compare features of ULIPs introduced on or after 1 September 2010.
The IRDA notes that the mobile application facilitates real-time access to its database of ULIP products and enables consumers to compare features such as premiums and benefits.
Users can search products for comparison through three options: by company, by policy type and by keywords.
For desktop computer users, the service is also accessible through the IRDA’s website.