what are the charges applicable in ULIPs

Question

Accepted Answer

ULIPs have various charges including premium allocation charge, policy administration charge, fund management charge, mortality charge, and surrender charge.

Premium allocation charge is deducted from the premium paid by the policyholder and is a percentage of the premium.
Policy administration charge is levied for the administrative expenses of the policy.
Fund management charge is deducted for managing the investment funds of the ULIP.
Mortality charge is the cost of providing life insurance coverage and is based on the age and sum assured of the policyholder.
Surrender charge is applicable if the policyholder surrenders the ULIP before the completion of the lock-in period.

Accepted Answer

ULIPs (Unit Linked Insurance Plans) involve several charges, including premium allocation, fund management, mortality, policy administration, and surrender charges, which impact the overall investment returns. 
It's a percentage of the fund value deducted annually, typically around 1-1.5%.

Accepted Answer

Depends on Customer age

what are the charges applicable in ULIPs

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