Question

What does the Partial Withdrawal Charge apply to?

a.

Premium payments

b.

Switching of funds

c.

Part withdrawal of the fund during the contract period

d.

Policy administration

Posted under IC 14 Regulations of Insurance Business

Answer: (c).Part withdrawal of the fund during the contract period Explanation:The Partial Withdrawal Charge is a charge levied on the unit fund at the time of part withdrawal of the fund during the contract period. This charge ensures that there are costs associated with withdrawing funds before the policy matures.

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