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Unit-Linked Insurance Plans (ULIPs) are designed to meet two of your most important financial needs: protection and investment. Both these benefits have some charges attached to them; important charges to know about before purchasing a ULIP are:
- Premium Allocation charge
- Policy Administration charge
- Mortality charge
- Fund Management charge
The important thing to note about ULIPs is that the overall charge structure in the long term comes down substantially, thus allowing greater allocation of premium to your chosen fund, thereby leading to wealth creation. It may be noted that insurers have the right to revise the fees and charges over a period of time.
To know more about charges, please see our ULIP charges section.
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