With customers moving towards more secure returns because of volatile stock market, Max Life Insurance has decided to focus more on traditional plans
“Private insurance companies’ sales till 2009 were mainly driven by unit-linked insurance plans (ULIPs). It accounted for about 90 per cent of total sales. Now it is less than 30 per cent,” said Rajesh Sud, CEO and Managing Director, Max Life Insurance.
The insurance company had conducted a recent study where it has been found that 85% of the respondents preferred traditional plan over ULIP.
The company has also launched a pension plan called ‘Maximiser’, which has 60 per cent equity exposure and another pension plan ‘Preserver’ – which has maximum 35 per cent equity exposure,” he added.
