ULIP is a blend of an investment plan with flavor of protection linked to market. If you invest in a ULIP, you get both a Term plan which provides you sum assured in case of your absence and returns post defined period.

Types of Unit Linked Insurance Plan

  1. ULIP focused on Child Plan
  2. ULIP focused on Retirement Plan
  3. ULIP focused on Health benefits
  4. ULIP focused on Wealth increase

Popular ULIP Plans in India

  1. Maxlife Fast Track Growth – Premium Allocation Charges @4% for annual premium, with INR 25,000 to INR 1,00,000 Premium Amount
  2. Bajaj Allianz Future Growth – Premium Allocation Charges @0%-1.5% with INR 25,000 Premium Amount
  3. Aegon Life iMaximize Plan – Zero Premium Allocation Charges with INR 24,000 to INR 36,000 Premium Amount
  4. HDFC Life Pro Growth Plus – Premium Allocation Charges @2.5% with INR 2,5,00 to INR 10,000 Premium Amount
  5. ICICI Pru Wealth Builder II – Premium Allocation Charges @3% to 4% with INR 24,000 to INR 48,000 Premium Amount

5 Reasons to buy ULIP plan in India

  1. The best way to get a life Cover along with returns
  2. Investment can be done as per your risk appetite. There are 6 Fund options available with user – Blue Chip Equity Fund, Accelerator Fund, Opportunity Fund, Stable Fund, Secure Fund and Debt Fund
  3. Tax benefit under Income Tax section 80C and 10 (10D)
  4. Payment options available – monthly or one time or annual
  5. Advantage of opting for Term Plan riders

While buying a ULIP plan, you should carefully choose the fund by analyzing how the fund has performed in last 1-3 years. Also, the charges levied by the insurer should be carefully read including policy termination charges.

Rating: 5

Comments:

  • October 8, 2017 at 4:23 pm
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    Go for opportunity fund.. it is risky..but will give good returns.

    Rating: 5
    Reply
  • October 3, 2017 at 7:07 pm
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    Hi,
    Can anyone tell me the benefit of investing in ulip and not in mutual fund?

    Rating: 5
    Reply
    • October 8, 2017 at 4:21 pm
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      What I have seen is though mutual funds provide you good returns but ulips give you insurance factor added too. It dependa upon which company ulip plan you prefer.. you might receive good returns there.

      Rating: 5
      Reply
      • October 27, 2017 at 8:36 pm
        Permalink

        No.. invest directly in stock market… Thats the max return on your investment you can make

        Rating: 5
        Reply

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