in the next two or three years.
"However, this may alter in the medium to long term as the equity markets starts improving and customers look forward to investing in market linked savings instruments," he said.
In a previous interview, IDBI Federal Life had also indicated that they would look at increasing the ratio of their ULIP products. Out of its total business, ULIPs form only 30% for IDBI Federal, and traditional insurance constituted 70%.
Premium collections during the first half of the fiscal have fallen by 6% on a year-on-year basis for private insurers, to Rs 11,621.29 crore. When collections from LIC are added to this, the fall in Apr-Sep 2012 narrows to 4.2% annually.