Others

  • Ans

    The insurance company is obligated to send an annual report to the policyholder which explains the fund performance during the previous financial year. The report would also include investment portfolio, analysis of fund performance, detailed investment strategies and risk control measures implemented by the insurer.

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  • Ans

    Yes, the policyholder may utilize the ‘Top Up’ facility and can invest additional contribution over and above the regular premium. A major portion of this Top Up amount is invested into the market while the remaining amount is utilized to enhance the risk cover.

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  • Ans

    Up on maturity of policy, the policyholder will receive the fund value along with any bonus, if available in the policy.

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  • Ans

    In the event of any risk occurring during the policy term, the insurance company will pay the beneficiary, the Sum Assured and/or the value of fund units, as on the date of intimation of death.

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  • Ans

    Net Asset Value (NAV) is the value of each unit, across funds, on a particular given day. The NAV is arrived at by adding the ULIP funds, less all liabilities (all fees and expenses), divided by the number of units owned.

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  • Ans

    All policies have a free-look period of 15 days, during which if the customer is dissatisfied with the policy or disagrees with any of the terms and conditions then he can choose to cancel the policy. The entire amount would be refunded, except charges of medical examination, stamp duty and proportionate risk premium for the period of cover.

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  • Ans

    A ULIP comprises of various charges which one should be well aware of before purchasing a policy. Let us understand some of these charges:

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  • Ans

    In a ULIP, investment returns are not guaranteed and the risk in the investment portfolio is borne by the policyholder. With ULIPs, greater the risk, higher would be the return potential. For example investment into Equity is considered most risky but it also offers higher returns. Moreover, past performance of funds does not guarantee same results in future and hence one should pick funds wisely.

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  • Ans

    In a ULIP, the insurer offers a huge variety of fund options to choose from. Different plans offer different risk profiles and the potential of return also varies from fund to fund. Some of the basic types of funds available are: 

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  • Ans

    A Unit Linked Insurance Plan (ULIP) is a type of insurance product which offers a combination of insurance and investment under one plan. In a ULIP, a small part of the premium is used to secure life and rest of the amount is invested into funds just like in Mutual Funds. Most of the ULIPs allow the policyholder to choose the investment type and hence in such cases the risk in investment portfolio lies with the policyholder.

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