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Unit Linked Insurance Plan (ULIP)

Secure your family's financial future.

Unit Linked Insurance Plan (ULIP)

Everything you need to know

If you are looking for market linked investment opportunities to meet your future financial goals, then a Unit Linked Insurance Plan is the smartest way to do so. ULIP provides a life cover to the insured and market linked investment opportunities as per the investor's choice. ULIP is a comprehensive insurance package with investment openings in the capital markets. ULIP assures you financial security when you are spending quality time with your family and also in the case of an unfortunate eventuality.

PARTIAL WITHDRAWAL

After the lock-in period ends, you can make a partial withdrawal.

MATURITY BENEFIT

On maturity of the policy, the policyholder receives the Fund Value. Get tax-free maturity benefit payout under section 10 (10D).

DEATH BENEFIT

In case the life assured dies during the policy duration, the nominee receives the death benefit, which will be higher of fund value or sum assured. Get tax-free death benefit payout under section 10 (10D).

Why Unit Linked Insurance Plan

  • Zero Depreciation Cover
    FINANCIAL SECURITY

    Protect your family financially and secure their future.

  • Engine Protection
    WEALTH CREATION

    Create wealth and build a corpus fund to meet your financial goals.

  • NCB Protection
    PREMIUM TOP-UPS

    Additional growth through a top-up with a one-time lump sum investment.

  • Invoice Cover
    TAX EXEMPTION

    The premium paid towards ULIP is tax exempted. You get tax exemption up to a maximum of Rs.1.5 lakh under section 80C of the Income Tax Act, 1961.

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FAQs on ULIP

Is ULIP a good option for investment?

Yes, it is a good option as an investment.

  • A Unit Linked Insurance Plan (ULIP) is a complete combo package of investment, life cover and tax benefits.

  • By investing in ULIP, you can build a corpus fund over a period to meet your financial goals like child's education, retirement planning, home loan, etc.

  • The best part of investing in ULIP is you can invest as per your risk appetite. If you have a low risk appetite, invest in debt and if you have a high risk appetite, you can invest in equity based funds.

  • Moreover, you have can make a partial withdrawal after the lock-in period ends.

  • One can exit from the plan anytime he wishes, but the monies are paid after completion of the 5 year lock-in period. It is advisable not to exit ULIP even after lock-in period ends. Here's what you must keep in mind, that ULIP is designed as a long-term investment product. Invest only with a horizon for at least 10 years.

Can I use ULIP as a good liquid instrument in case of an emergency?

Yes, you can use ULIP as a liquid instrument in case of an emergency. ULIP is a completely transparent investment product. In case of an emergency, you can always make a partial withdrawal after the lock-in period ends. Funds received as a partial withdrawal can be used as a financial aid in the case of need. Moreover, even after a partial withdrawal, you still have to continue investing as per the policy tenure.

How to reap the maximum benefit of investment in ULIP?

  • Always invest in ULIP keeping in mind long-term goals.

  • Do not surrender ULIP even after lock-in period ends.

  • Invest the surplus amount as Top-up to increase life coverage and investment fund. Top-up is a one-time lump sum investment provision for you as an investor which can be used during your policy tenure.

  • Make partial withdrawal only if necessary.

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