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Monday, August 03, 2009

Ulips definations

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Premium Allocation charge is the difference between the gross premium paid and the amount actually invested. This is used to pay the agency commission and other marketing expenses. The policy administration charge varies from Rs. 700 to Rs. 1500 per annum.

Mortality charge is the premium collected for providing the life cover. It is calculated on the sum at risk, this is the amount the insurer will have to pay if the policy holder dies.

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