Here is the list of fees and charges that you can expect to pay when you are investing in a ULIP:\r\rPremium allocation charges imply that a percentage of the premium is allocated to offset distributor, underwriting, medical expenses, etc., of your insurer.\rMortality charges are generally extended towards offering life insurance cover.\rFund management charges capped at 1.5% on the fund’s value are levied for switching the fund multiple times in your ULIP plan which is subtracted prior to NAV calculation\rSurrender charges ranging between Rs. 1000 and Rs. 3000 are applicable only if the policyholder encashes the units prematurely\rPolicy administration charges are levied towards administrative expenses incurred on the policy.\rSwitching charges vary between Rs. 100 to Rs. 500 per switch is applied every time the insurer switches fund.