If a policyholder decides to not continue with his/her existing Unit Linked Insurance Plan (ULIP), the process to terminate the policy voluntarily before completion of the tenure is termed as ULIP surrender. If you intend to surrender a ULIP policy, you can do so by visiting the insurance company's branch office, calling the customer service team, or filling out the surrender request form online. Next you need to submit the relevant documents, along with policy papers and other KYC-related documents. Read on to know the key details.

Unit-linked insurance plans (ULIPs) are a type of insurance instrument that provides the dual benefits of life cover and investment. One portion of your ULIP premium is allocated to investment, and it requires monitoring and rebalancing across funds. To manage these funds effectively, insurance providers levy fund management charges in ULIP to employ professional fund managers who aim to deliver expected returns over time.

Women have been taking greater control of their financial future by investing for long-term goals, family security, and independence after retirement. Their growing financial participation reflects in the fact that women now account for around 33% of individual mutual fund assets in India. With changing career paths and evolving financial responsibilities, choosing the best ULIP plan for women can offer a balanced combination of life cover, market-linked growth, and financial flexibility to support different stages of life.

Keeping track of multiple insurance policies is not easy. Renewal dates, premium amounts, and physical copies stored in different places, most people find it difficult to stay on top of all of it.

An electronic insurance account (EIA) was built to fix this. This digital platform stores all your insurance policies in one convenient location, so you no longer need to keep track of them individually or worry about misplacing any physical paperwork.

A sweep in FD refers to a facility in which a savings or current account is linked to a fixed deposit. Surplus money in the savings account above a limit is moved into an FD and earns a higher interest offered by the FD. If the savings account balance falls below a specific threshold limit, a specified portion of the FD is broken and credit back to the savings account.