lakh. Several NGOs are active in this space and you could contact them for assistance.
If I pay my term plan premium six months in advance, can I claim some discount from the company?
— S Sundar Raman
As per a recent Irda guideline, policyholders can pay advance premiums only within the year. A discount may be given, though the policy varies from company to company. You are advised to check with your insurer in this regard.
Do insurers factor in all deduction before showing the daily NAV in Ulips? If no,t how do I know what is my fund value at a particular point of time?
— Ramesh Kumar
NAV of a fund on a daily basis is determined as follows: (market value of investment held by the fund + value of current assets – value of current liabilities and provisions, if any)/number of units existing on valuation date (before creation/redemption of units).
As some charges in Ulips are deducted on a daily or monthly
basis, on each day, the market value of the investment held is considered for the calculation of NAV along with other details.
The writer is executive vice-president, Kotak Mahindra Old Mutual Life Insurance
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