flexibility

ulips be given much flexibility to the policyholder. the option of switching is a provisionthat flexibility. insured are also allowed to make an additional lump sum contribution at any time. risk coverage will remain the same, but the amount goes into the investmentfund will change. Top-Up is the term used to refer to the increased contribution policy for investment. It could not be charged a top-up. the guidelines stipulate that the top IRDA -until only allowed if the premium is paid regularly updated and also that if the amount ofrecharge is more than25% of the regular premium paid to date, life insurance will be increased 1.25 fold excess of the amount of recharging. there will be a lock in period of three years for each amount of recharge, expect for the last 3 years of the policy.
· The policy holder may be authorized to redirect the current premium on any background.
· The policy holder can not pay the premium in one year, subject to certain conditions. if that happens, no new units will add to its bottom, but some units will be reduced to pay for annual expenses for housing, administration, fund management, etc.. this is calledHOLIDAY PREMIUM.