Charges levied on your Insurance Plan – Is it disclosed to You?

Charges levied on your Insurance Plan – Is it disclosed    to You.....???

ULIPs….??? Many people do this mistake, by listening to the magical words of insurance agents people will generally end up in buying the wrong products with huge charges. IndianMoney.com is making an effort to educate our readers about the charges and charge structure of ULIPS. Since we have mentioned in our previous articles there are best and worst ULIPs, now it is your responsibility to prefer which one to buy.                                                                                                                                 Read More Charges under ULIPs Following are the major charges under ULIPs Premium Allocation Charge: Fund Management Charge (FMC) Policy Administration Charge Surrender Charge Switching Charge Mortality charge Rider premium charge Withdrawal charges Partial withdrawal charge Miscellaneous charge                                                                                                                                                                    Read More Premium Allocation Charge From the premium received, a certain percentage will be appropriated towards charges, this is known as Premium Allocation Charge.                                                                                                                                 Read More Fund Management Charge (FMC) Fund Management Charge is levied as a percentage of the value of assets and shall be appropriated by adjusting the Net Asset Value.                                                                                                                                 Read More Policy Administration Charge Policy administration charges are the charges that the company takes out from the paid premium towards payment to the sales people such as Insurance agent or banks, etc.                                                                                                                                 Read More Surrender Charges Surrender Charges are levied on the unit fund at the time of surrender of insurance contract before the planned maturity date.                                                                                                                                 Read More Mortality charge Mortality charge is the cost of life insurance cover. This will be levied either by cancellation of units or by debiting the premium but not both.                                                                                                                                 Read More Courtesy : Theindianmoney.com

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