Two minute ago, IBN Live has published the information that SEBI lifts the ban after meeting with Finance Ministry Pranab Mukherjee. Now, 14 insurance companies can sell insurance products like ULIPs. I think a bone of contention has been abolished in this official meeting.
Union Finance Minister Pranab Mukherjee, who chaired the meeting, said that
status quo on the ULIP matter has been restored. Mukherjee said the Finance
Ministry has sought legally binding verdict from courts on ULIPs.
lifting of the ban status quo on the ULIP issue has been restored. There is now
no ban on insurance companies providing ULIPs as part of an insurance policy. link