Common use of Switching Fee Clause in Contracts

Switching Fee. a. The first 6 (Six) switches in a Policy Year will be free of any charge provided the total switch amount under each switch is less than Rs. 50,00,000 (Fifty Lakhs). Subsequent switches and switches of an amount exceeding Rs. 50,00,000 (Fifty Lakhs) in a Policy Year will be subject to a switching fee of Rs. 500 (Five Hundred) per switch, for which We will cancel the Units from the b. The switching fee payable for switching of monies from one Fund to another Fund shall be subject to applicable service tax and education cess, if any, as per the applicable laws and shall be entirely borne by the Master Policyholder. iv. POLICY ADMINISTRATION CHARGE a. There is no policy administration charge under this Policy. v. MORTALITY CHARGE a. Under this Policy, the mortality charges shall be as follows: Age Class 1 A Class 1 Charges Per Mille Class 2 Class 3 Class 4 Class 5 18 0.33 0.37 0.43 0.53 0.64 0.83 19 0.35 0.38 0.45 0.56 0.67 0.86 20 0.36 0.40 0.47 0.58 0.70 0.90 21 0.37 0.41 0.49 0.60 0.72 0.93 22 0.38 0.43 0.50 0.62 0.74 0.96 23 0.39 0.44 0.51 0.63 0.76 0.98 24 0.40 0.45 0.52 0.65 0.78 1.00 25 0.41 0.45 0.53 0.66 0.79 1.02 26 0.41 0.46 0.54 0.67 0.80 1.03 27 0.42 0.46 0.54 0.67 0.81 1.04 28 0.42 0.47 0.55 0.68 0.82 1.05 29 0.42 0.47 0.55 0.68 0.82 1.05 30 0.42 0.47 0.55 0.68 0.82 1.05 31 0.42 0.47 0.55 0.68 0.82 1.05 32 0.43 0.48 0.56 0.70 0.84 1.08 33 0.45 0.50 0.59 0.72 0.87 1.12 34 0.47 0.52 0.61 0.76 0.92 1.18 35 0.50 0.55 0.65 0.80 0.97 1.25 36 0.53 0.59 0.70 0.86 1.04 1.33 37 0.57 0.64 0.75 0.92 1.12 1.43 38 0.62 0.69 0.81 1.00 1.20 1.55 39 0.67 0.75 0.88 1.08 1.31 1.68 40 0.74 0.82 0.96 1.19 1.44 1.85 41 0.81 0.90 1.06 1.30 1.57 2.02 42 0.87 0.97 1.14 1.40 1.69 2.18 43 0.94 1.04 1.22 1.51 1.82 2.34 44 1.02 1.13 1.33 1.64 1.98 2.55 45 1.12 1.24 1.46 1.80 2.18 2.80 46 1.24 1.38 1.62 1.99 2.41 3.09 47 1.37 1.53 1.79 2.21 2.67 3.43 48 1.53 1.70 1.99 2.46 2.97 3.82 49 1.70 1.89 2.22 2.74 3.30 4.25 50 1.89 2.10 2.46 3.04 3.67 4.72 51 2.09 2.33 2.73 3.38 4.07 5.24 52 2.32 2.58 3.03 3.74 4.51 5.80 53 2.56 2.85 3.34 4.13 4.98 6.40 54 2.82 3.14 3.68 4.55 5.49 7.06 55 3.10 3.44 4.05 4.99 6.03 7.75 56 3.40 3.77 4.43 5.47 6.60 8.49 57 3.71 4.12 4.84 5.97 7.21 9.26 58 3.97 4.41 5.18 6.39 7.72 9.92 59 4.30 4.78 5.62 6.93 8.37 10.76 60 4.71 5.23 6.14 7.58 9.15 11.77 61 5.18 5.76 6.76 8.35 10.07 12.95 62 5.73 6.36 7.47 9.22 11.13 14.31 63 6.34 7.04 8.28 10.22 12.33 15.85 64 7.03 7.81 9.17 11.32 13.66 17.56 65 7.78 8.65 10.16 12.54 15.13 19.45 66 8.18 9.09 10.68 13.18 15.91 20.45 67 9.22 10.25 12.04 14.86 17.93 23.06 68 10.38 11.53 13.55 16.72 20.18 25.94 69 11.65 12.95 15.21 18.78 22.66 29.13 70 13.07 14.52 17.06 21.05 25.41 32.66 71 14.62 16.25 19.09 23.56 28.44 36.56 72 16.34 18.16 21.33 26.33 31.77 40.85 73 18.23 20.26 23.80 29.37 35.45 45.58 74 20.31 22.56 26.51 32.71 39.48 50.76