Licentiate Exam - IC 02 Practice of Life Insurance Exam - Important Points
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Policy administration charges: are levied for the administration of ULIPs. These charges are recovered by cancellation of units on a monthly basis.
Amount that is invested in funds is termed as units and their values are expressed as Net Asset value (NAV)
Investment fund options offered by ULIPs - Equity Fund, Debt Fund, Balanced Fund, Money Market Fund
Equity fund
invests major portion of the money in equity and equity related instruments. High Risk Category
Debt fund
invests major portion of the money in Government Bonds, Corporate Bonds, Fixed Deposits etc.
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