IRDAI extends revival option for ULIPs
(WorldNews Business)

CHENNAI: In a welcome move the IRDAI, has now said that policyholders will be able to revive unit-linked insurance plans (ULIPs) even two years after the policy has lapsed. The earlier regulation insisted on payment within 90-days, following which the ULIP would lapse. The new regulation makes ULIPs on par with traditional plans, which have always enjoyed a two-year grace period for payment. Lapsed...