The Life Insurance Council , an industry association , has taken up the issue of introducing standard nomenclature for all charges across life insurance companies.

This means that when you now go and wanna apply for Unit Linked plans, you will know how much charges are gonna go towards fees etc.

The industry regulator has been pushing towards this for last one year.In last one year the growth of the ULIPs across insurance companies has been huge.For most Insurance companies ULIPs has been the growth driver.