Often we advise you to sit with the benefit illustration of a life insurance policy to understand the benefits in detail. But how can you make best use of it? We take you through the answers.
What is a benefit illustration?
A benefit illustration is a year-by-year summary of the costs and benefits. With it, you can assess how costs impact your corpus every year. You pay a premium every year and your insurer deducts costs from this money on account of fund management, distributor incentives, insurance cover and other administrative expenses.