United Linked Plan
  • ULIP (Unit linked insurance plan) are a category of goal-based financial solutions that combine the safety of insurance protection with wealth creation opportunities. In ULIPs, a part of the investment goes towards providing you life cover. The residual portion of the ULIP is invested in a fund which in turn invests in stocks or bonds; the value of investments alters with the performance of the underlying fund opted by you.

    A ULIP is basically a combination of insurance as well as investment. A part of the premium paid is utilized to provide insurance cover to the policy holder while the remaining portion is invested in various equity and debt schemes. The money collected by the insurance provider is utilized to form a pool of fund that is used to invest in various markets instruments (debt and equity) in varying proportions just the way it is done for mutual funds. Policy holders have the option of selecting the type of funds (debt or equity) or a mix of both based on their investment need and appetite. Just the way it is for mutual funds, ULIP policy holders are also allotted units and each unit has a net asset value (NAV) that is declared on a daily basis. The NAV is the value based on which the net rate of returns on ULIPs are determined. The NAV varies from one ULIP to another based on market conditions and the fund's performance.

    ULIP policy holders can make use of features such as top-up facilities, switching between various funds during the tenure of the policy, reduce or increase the level of protection, options to surrender, additional riders to enhance coverage and returns as well as tax benefits.

    Key Features
    • Flexibility to choose your Life Cover and also increase or reduce your Sum Assured to match your requirements through the Policy Term.
    • Flexibility of choosing investment funds: Hassle free investment management product with market related returns. Investment flexibility to choose from 5 funds to match your attitude to investment risk and return.
    • Maturity Switch Option to help you manage the investment in your portfolio, as you grow older and closer to the maturity of your plan term by progressively moving your investments from the Equity fund to the Liquid fund.
    • Increase the value of your savings by contributing through Top-up premiums over and above your regular premiums.
    • Liquidity by way of partial withdrawals from your funds, as and when required post completion of 3 years since Policy start date, to meet any unforeseen financial hardships.
    • Flexibility of Switching/Redirection between the available funds to take advantage of market movements or change in risk attitude.
    • Save tax while investing under section 80C and get Tax-free maturity benefits under section 10 (10 D) of the Income Tax Act,1961.
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