For those who are
seeking both
death benefit protection, along with a potentially
higher amount of cash value build up over time (in a tax - advantaged manner), the Phoenix Accumulator UL policy may be a good fit.
Irda recently issued letters to all life insurance companies,
seeking details on three types of traditional plans: those where
death benefit is defined as a return of premium (with or without interest), products in which the initial
death benefit is significantly
high and reduces subsequently during the currency of the contract, and products in which insurance cover is insufficient / insignificant in relation to the premium, i.e. products mostly of the savings type.