Surrender Charges: These charges are deducted for partial/full withdrawal of premature units of ULIP documents.
Premium Charges: To avail of the benefits of a ULIP, you have to pay a premium. These charges depend on your payment cycle (monthly, quarterly, half-yearly & annually).
Administration Charges: These charges are systematically deducted to compensate for the expenses that are paid by the insurance company for maintaining a life insurance policy.
Fund Switching Charges: Every unit-linked insurance plan has different fund options in its arsenal. The insurance company allows investors to switch between funds in return for a fee.
Partial Withdrawal Charges: Once the lock-in period is over, investors are allowed to take out a small amount of money to meet their needs. However, they have to pay a charge for it.