Following are the charges applicable on your ULIP plan:
Premium Allocation Charge: We deduct the premium allocation charges before we make any investments or before we apply any other charge.
Fund Management Charge (FMC): Fund management charge and applicable service tax are both deducted on a daily basis from the fund value before calculation of the NAV (Net Asset Value).
Policy Administration Charge: We deduct a monthly administration charge and applicable service tax on the first business day of each plan month by cancelling units in advance. We do this at the beginning of each monthly anniversary of the plan.
Mortality Charges: We deduct this charge and applicable service tax on the first business day of each plan month by way of cancellation of units.
Switching Charge You may make only two switches in a calendar month. We currently do not levy a switching charge. However we reserve the right to introduce charges, subject to prior notification.
You may refer to your policy document for details of the charges applicable.