Have Ulip sales been affected because of the equity market downturn?
Last year, LIC had seen substantial sales coming in from Ulips. As a life insurance company, we are aware that for long term viability, Ulips are not the answer. We have to go into the conventional non-Ulip products. That’s why, this year we have made a conscious effort to decrease the Ulip content. Last year, about 20 per cent of our premium was generated from non-Ulip plans. This year, we aim to increase it to 30-35 per cent. At the end of September, we managed to bring down the proportion of Ulips to 73 per cent. This year, customer preference for non-Ulip products has been higher than last year. It may be due to the market volatility and the bearish sentiments in the equity markets. We sold about 12 million policies during April-September with Ulips contributing about 50 per cent. What about your debt investment? Our major investment is in debt. Our total asset base is about Rs 8,04,000 crore. The MTM value of our equity investments is about Rs 1,60,000 crore, while the remaining s
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