Unit Linked Insurance Plan Revised

&NewLine;<h2 class&equals;"wp-block-heading">Unit Linked Insurance Plan &lpar;ULIP&rpar; Revised Terms&colon;<&sol;h2>&NewLine;&NewLine;&NewLine;&NewLine;<p>From September 01&comma; 2010&comma; all ULIP Plans will have the following features&colon;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Term&colon;<&sol;strong><br &sol;>The minimum term for the ULIP plan would be 10 years&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Locking Period for Top Up&colon;<&sol;strong><br &sol;>All Top-up premium lock-in period would be 3 years&period; Also&comma; Top-up premium not allowed during the last 3 years of maturity&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Compulsory Insurance&colon;<&sol;strong><br &sol;>Insurance cover is mandatory including Pension Plan Hence there will be no ULIP without risk cover&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Pension ULIP<&sol;strong>&colon;<br &sol;>Withdrawals will be not allowed before maturity in the case of the Pension Plan&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Assignments and Loan&colon;<&sol;strong><br &sol;>Assignments and loans are not available in ULIP Plan&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Top-Up Premium&colon;<&sol;strong><br &sol;>Risk cover is mandatory for top-up premium and will be treated as a single premium for each time you top up&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p><strong>Surrender&colon;<&sol;strong><br &sol;>Surrender before 6 years will attract a penalty&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<figure class&equals;"wp-block-table"><table><tbody><tr><td>Term<&sol;td><td>Surrender Duration<&sol;td><td>Charges<&sol;td><&sol;tr><tr><td>Less than 10 yrs<&sol;td><td>1st year<&sol;td><td>12&period;5&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>2nd year<&sol;td><td>10&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>3rd year<&sol;td><td>7&period;5&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>4th year<&sol;td><td>5&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>5th year<&sol;td><td>2&period;5&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>6th year<&sol;td><td>Nil<&sol;td><&sol;tr><tr><td>More than 10 yrs<&sol;td><td>1st year<&sol;td><td>15&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>2nd year<&sol;td><td>12&period;5&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>3rd year<&sol;td><td>10&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>4th year<&sol;td><td>7&period;5&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>5th year<&sol;td><td>5&percnt;<&sol;td><&sol;tr><tr><td>&nbsp&semi;<&sol;td><td>6th year<&sol;td><td>2&period;5&percnt;<&sol;td><&sol;tr><&sol;tbody><&sol;table><&sol;figure>&NewLine;