![According to the IRDAI circular, advertisements for all linked products and pension products with variable payouts must comply with the standards set by ASCI. According to the IRDAI circular, advertisements for all linked products and pension products with variable payouts must comply with the standards set by ASCI.](https://images.news18.com/ibnlive/uploads/2021/07/1627283897_news18_logo-1200x800.jpg?impolicy=website&width=510&height=383)
According to the IRDAI circular, advertisements for all linked products and pension products with variable payouts must comply with the standards set by ASCI.
According to the IRDAI Master Circular, all advertisements of linked insurance products and annuity products with variable annuity payout options must disclose risk factors.
The Insurance Regulatory and Development Authority of India (IRDAI) has issued a master circular prohibiting promotion of Unit Linked Insurance Plans (ULIPs) as ‘investment products’. IRDAI, in a master circular dated June 19, said unit-linked or index-linked insurance products should not be advertised as 'investment products'.
Insurers must specifically state that market-linked insurance plans differ from traditional endowment policies and involve risks. Likewise, if you wish to participate in an endowment policy (with a bonus), the benefits picture must state upfront that the expected bonus is not guaranteed.
Risk factors must be disclosed in all advertisements for linked insurance products and variable annuity products.
“All insurers must advertise the launch of unit-linked funds or index-linked funds under existing or new insurance products, and this should only refer to basic life insurance coverage and products related thereto. Additionally, insurers should not issue press releases or statements without mentioning life insurance coverage and related products,” the master circular said.
It added that advertisements for all linked products and pension products with variable payouts must comply with the standards set by the Advertising Standards Council of India.