All ulips deduct allocation charges. and if u calculate amount of tax on the premium amount u pay to buy a ulip, tht will be lesser then the allocation charges.
so is it a vice descision to pay the higher amount to a company and block the rest of the amount for at least three years or one should pay a lesser amount as income tax as the contribution to national development and take in hand the rest of the amount which you could have blocked in the ulips
