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Rel Life, SBI & IDBI unveil plans on Day 1 of newIRDA rules.

ON THE first day of the norms unveiled by the Insurance Regulatory and Development Authority ( IRDA) coming into effect, IDBI Mutual Fund announced the launch of its second index fund -- the IDBI Nifty Junior Index Fund, and SBI Life launched two unit- linked insurance plans ( Ulips). Reliance Life Insurance Co Ltd ( RLIC) said it received approval from IRDA for two new Ulips.

The new fund offering of the IDBI Nifty Junior Index Fund will be available from September 2 to September 15. It will re- open for sale and repurchase with effect from September 27.

Reliance Life Insurance president and executive director Malay Ghosh, said, " We have received approval from IRDA for two unit- linked insurance plans." RLIC said it is expected to soon launch the approved Ulips -- Reliance Life Highest NAV Advantage Plan and Reliance Life Classic Plan.

Meanwhile, SBI Life unveiled the Smart Performer and Unit Plus Super.

These Ulips are equipped with more features such as benefit of higher protection, multiple investments & a wide range of riders.

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Publication:Mail Today (New Delhi, India)
Date:Sep 2, 2010
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