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Finance Minister Pranab Mukherjee Monday said status quo ante would be maintained on the sale of unit-linked insurance plans until an appropriate court decides on which regulator has jurisdiction over such instruments, popularly called ULIP.

Delivering a knock out punch to the Securities Exchange Board of India (SEBI), the government through a ordinance issued late Friday, has unequivocally declared that unit linked insurance policies (ULIPs) are part of the life insurance business.

Securities and Exchange Board of India (SEBI) on Tuesday said its order banning sale of unit-linked insurance plans (ULIPs) would apply only to new products launched after April 9.

SBI Unit Linked Insurance Plan yields consistence growth of your money and life insurance for same premium. Buy SBI Life Insurance Unit Plus and avail for dual benefit.

Mutual funds and ULIPs are safe investment vehicles used for wealth creation in the long run and cater to the needs of different kinds of investors.

The Insurance Regulatory and Development Authority (IRDA) has asked 14 life insurers to defy the ban imposed by the Securities and Exchange Board of India (SEBI) on selling unit linked insurance policies (ULIP).