how many typs charges in ulip plan

Question

Accepted Answer

There are various types of charges in a ULIP plan.

ULIP plans have different types of charges such as premium allocation charges, policy administration charges, fund management charges, mortality charges, etc.
Premium allocation charges are deducted from the premium paid by the policyholder and are used to cover the initial expenses of the plan.
Policy administration charges are levied for the administrative services provided by the insurance company.
Fund management charges are deducted for managing the investment funds of the ULIP plan.
Mortality charges are deducted to provide life cover to the policyholder.
Other charges may include surrender charges, switching charges, etc.
The exact charges and their amounts vary depending on the ULIP plan and the insurance company.

Accepted Answer

6 type