Insurance companies and their agents are committing daylight robbery and the IRDA is intent on looking the other way. The high upfront costs are just not justified and investors are getting a raw deal but with the equity markets on a high, most investors are getting conned by the glib marketing. Actually most insurance companies just take the ULIP premium from customers, pay themeselves and their agents hefty commissions and pass on the balance to mutual fund managers to manage the money. It is far better to buy cheaper Term insurance and invest the balance in diversified Mutual Funds oneself and save all the costs of a ULIP.
