eyes and which provided for various charges including the fund administrative charges, fund management charges and the mortality charges. Since the petitioner entered into ... Life had realised that with the higher charges, namely administrative charges, the fund management charges and the mortality charges the size of the fund value
units.
d) Mortality charges; these charges are calculated on a yearly
basis, but deducted every month from the units allocated.
Mortality charges ... Life
Cover) depending upon the age and the mortality rating, as
applicable). Mortality charges for annual premium of
Rs.2,00,000/- has been calculated
policy may be deducted during the revival period. However, the mortality charges shall be deducted based on the reduced paid up sum assured only
shall be maintained at 105% of the total premiums paid. Accordingly, mortality charges will be deducted. (g) The insurer may levy fund management charge, switching ... charge and mortality charges if any, during the settlement period. The Insurer shall not levy any other charges. (h) Complete withdrawal may be allowed
units.
d) Mortality charges; these charges are calculated on a yearly
basis, but deducted every month from the units allocated.
Mortality charges ... Life Cover)
depending upon the age and the mortality rating, as applicable).
Mortality charges for annual premium of Rs.2,00,000/- has
been calculated
units.
d) Mortality charges; these charges are calculated on a yearly
basis, but deducted every month from the units allocated.
Mortality charges ... Life Cover)
depending upon the age and the mortality rating, as applicable).
Mortality charges for annual premium of Rs.2,00,000/- has
been calculated
continue to liquidate an appropriate number of units to meet the mortality charges. Here, since the complainant did not pay the premium after first year ... company liquidate number of units to meet the mortality charges and remaining amount as surrender value of Rs.6,712/- was refunded to the complainant
policy.
3. Policy charges were properly disclosed and contractually permitted:
All applicable charges--including premium allocation charges,
policy administration charges, mortality charges, and fund management ... policy charges, deductions, and features--including
mortality charges, allocation charges, fund management charges, and
policy administration charges--were duly disclosed and accepted by the
complainant
policy.
3. Policy charges were properly disclosed and contractually permitted:
All applicable charges--including premium allocation charges,
policy administration charges, mortality charges, and fund management ... policy charges, deductions, and features--including
mortality charges, allocation charges, fund management charges, and
policy administration charges--were duly disclosed and accepted by the
complainant
charges, which were not part and parcel of the policy, like mortality charges, premium allocation charges and bid offer. It has further been stated that ... decretal order was confined to three types of charges i.e. mortality charges, premium allocation charges and bid offer, which were deducted from the account
