September 21, 2021

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What are mortality charges?

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Mortality charge is the fee imposed by a life insurance company to provide life cover to the policyholder. This charge increases as you age. In a pure protection term policy, the mortality charge makes up the majority of your premium. In the case of Unit Linked Insurance Plans (ULIP), the mortality charge is one among several heads such as premium allocation, policy administration and fund management charges. When you buy a ULIP, your insurer shows you the gross yield (your policy’s stated return) and net yield (your returns after charges). However, mortality charges are typically left out, so if they are high, your returns could be even lower than the net yield.

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