'Ulip-holders to pay Rs 6,000 on exit'

Insurance regulator Irda said Ulip-holders will have to pay up to Rs 6,000 if they want to discontinue a policy within the first four years. The Irda (treatment of discontinued linked insurance policies) regulation, 2010, released by the sectoral watchdog today, said the charges for discontinuation of Ulips will range from Rs 1,000 to Rs 6000, depending on the premium paid by the policyholder. When the policy is discontinued during policy years of one to four, the holders of the policy would be charged in this range. However, policies discontinued from the fifth year onwards will not carry any discontinuation ...

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