Administrative Charge in an IUL policy refers to a fee deducted, typically on a monthly or annual basis, by the insurance company to cover the costs related to policy administration.
Administrative Charge in an IUL policy refers to a fee deducted, typically on a monthly or annual basis, by the insurance company to cover the costs related to policy administration. These costs may include record-keeping, premium processing, policy issuance, and other related operational tasks. The amount or rate of this charge is generally outlined in the policy contract and can vary based on the insurance company and the specific IUL product.
Note: It's essential for policyholders to be aware of all charges associated with their IUL policy, including the administrative charge, as these fees can impact the policy's cash value growth and overall performance.
Administrative Charge in an IUL policy refers to a fee deducted, typically on a monthly or annual basis, by the insurance company to cover the costs related to policy administration.
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