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Budget announcement on Ulips won t impact us: HDFC Life Insurance CEO Vibha Padalkar

Budget announcement on Ulips won’t impact us: HDFC Life Insurance CEO Vibha Padalkar M Saraswathy © M Saraswathy Budget announcement on Ulips won’t impact us: HDFC Life Insurance CEO Vibha Padalkar Union Budget 2021 announced the withdrawal of tax exemption benefits on the maturity benefits of unit-linked insurance plans (Ulips) if their annual premiums exceed Rs 2.5 lakh. However, this will not impact HDFC Life Insurance, the country’s second-largest private insurer (by total annualised premium equivalent or APE), said MD and CEO Vibha Padalkar. In an interaction with Moneycontrol, Padalkar explained that this was primarily because the company does not sell big-ticket Ulip policies.

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