POSTED BY September 24, 2012 1:32 pm COMMENTS (2)ON
First of all, I would like to thank you for checking this query.
I have one ULIP plan from ICICI. I want to know how they are calculating the Fund value on each day.
What I was thinking I want to share with you. PLease let me know if that is wrong.
Suppose 2 years I have paid premium of 10000 each. I thought on the day I have done the payment it would get divided by that particular date NAV i.e. (premium paid – allocation charges)/ NAV on that day = my earned unit.
I was checking my daily fund value and it shows different unit count. I was thinking the the unit count would be fixed until my next premium payment and the fund value would fluctuate as per the daily NAV.
As I am seeing the daily unit count also fluctuates please let me know where I am wrong. Then how would I can count my fund value myself. The document says the first two years the premium allocation charges are 6% and 5% respectively.