Unit Linked.pdf

Question related to Unit Linked Plans 1 What is the difference between traditional life insurance and unit linked life insurance? 2 How should investment funds typically be selected? 3 What is risk appetite? 4 What does choice of investment funds mean? 5 How many fund choices do the life insurance companies offer? 6 Can the life insurance company construct a customised fund for the policyholder? 7 When is the choice of investment fund made? 8 Can the choice of investment fund be changed? 9 Is it possible to invest in all the available investment funds? 10 Can existing investments be shifted to different investment funds? 11 Is there any limit on the number of switches in a policy year? 12 Can future premiums be deposited into different investment funds without shifting existing investments in any investment fund? 13 Does top-up contribution over and above the regular premium result in an increase in the insurance cover? 14 Can the insurance company be directed to make investments in specific securities? 15 Does the insurance company disclose the investments made in each fund? 16 Is a loan available in unit-linked plan? 17 Can a Rider or any optional benefits be added with a unit-linked life insurance plan? 18 Can a unit linked life insurance plan be surrendered? 19 Can nomination be changed in a unit-linked life insurance policy? 20 Is assignment of a policy allowed? 21 How is a maturity claim made in a unit-linked life insurance policy? 22 To whom will a death claim amount be paid in a unit-linked life insurance policy? 23 How does the nominee/ legal heir make a death claim in a unit-linked policy? 24 What is Top-up contribution? 25 What tax benefits are you eligible for? 26 What is survival benefit? 1. What is the difference between traditional life insurance and unit linked life insurance? The main difference is in the flexibility in the choice of investments. In the case of unit-linked life insurance, the insurance company