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February 15, 2012updated 13 Apr 2017 8:46am

Indian regulator takes comparative ULIP shopping mobile

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)

By LII editorial

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.

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