ULIPs

At the time of a claim: 

• Comply with all the requirements of the insurance company 

• Whenever required, you should help the insurer in a prosecution or for recovery of claims which the insurer has against third parties

ULIPs 

• Premium allocation charges and fund management charges would normally be levied on the ULIP policy. 

• You have a right to receive a fund statement from the insurer periodically. 

• You have the right to switch funds, premium redirection and / or seek partial withdrawal subject to the terms and conditions of the policy. 

• You can surrender the policy after the lock-in period from the date of commencement of the policy 

• The nominee/assignee under a life insurance policy has the right to the death claim amount