SMC Insurance has explained well on mortality charges in ULIP, helping policyholders understand how these charges affect their overall returns and life cover, ensuring they make informed decisions while selecting a ULIP.
mortality charges in ulip
Tax Benefits: The mortality charges deducted in ULIPs are tax-deductible under Section 80C of the Income Tax Act, offering policyholders a financial advantage.
Financial Security: The life cover ensures that even in the absence of the policyholder, the family’s financial goals are protected, making mortality charges an essential component for ensuring security.
Market Exposure with Safety Net: While ULIPs allow you to invest in the stock market, the mortality charges ensure that your loved ones will receive a guaranteed sum in case of your death, even if the market is not performing well.
Conclusion
In conclusion, mortality charges in ULIPs are essential to providing life cover, ensuring that your family is financially protected while you benefit from market-linked investments. While many focus on the investment returns in a ULIP, it is crucial not to overlook the life insurance aspect, which comes at the cost of mortality charges.
SMC Insurance has explained well on mortality charges in ULIP, helping policyholders understand how these charges affect their overall returns and life cover, ensuring they make informed decisions while selecting a ULIP.
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