What is Unit Linked Insurance Plan?

ULIP (Unit Linked Insurance Plan) is an insurance product created to help you accumulate wealth and enhance investments. Contrary to popular conception, many life insurance products are instruments for investment, including ULIPs. A Unit Linked Insurance Plan (ULIP) is a market-linked product. This means that along with providing you with a life cover, your investment is diversified in the open market and the returns are incidental to the market performance, helping you in generating better returns in the long term.

BENEFITS OF ULIP PLANS

  • 01

    Tax Benefits

    Premium invested and returns received are both tax deductible

  • 02

    Switch Funds

    Flexibility to change funds as per your risk appetite

  • 03

    Death Benefit

    Your family receives a claim in case of your passing away

  • 04

    High Rating

    All funds are rated 4 Stars and above by Morning Star

  • 05

    Financial Discipline

    Invest regularly and in a disciplined manner

  • 06

    Long-Term Goals

    Help in financing children’s education, wedding or house

  • 07

    Compounding Growth

    Your investments grow and multiply over time

  • 08

    Market-Linked Returns

    Returns are incidental to the market performance

Why should you choose ULIPs?

Why should you choose ULIPs?

ULIPs not just give market-linked returns to help you fulfill your goals and aspirations, they also provide a life cover to help secure your family in case of your death. Apart from that, all life insurance products provide tax benefits. Some also provide dual tax benefit which means you avail tax benefit when you invest and you also get tax free returns. This dual benefit may not be available in other investment instruments.

Investments in ULIP can be customized to your preferences. You can choose the funds to invest in based on your risk appetite. Investors seeking lower risk may opt for debt funds while equity investments are desired by investors with higher risk. Moreover, you have the flexibility - you may switch between funds based on circumstantial dynamics so that you do not miss out on better performing funds.

ULIPs are suitable for every investor who is willing to take a little risk in meeting his medium and long-term goals.

Importance of rating for individual (ULIP) funds

Since ULIP is a market linked investment instrument, you should look for the ratings of the individual funds from a verified source.

Importance of rating for individual (ULIP) funds

If the funds have performed consistently well in the past there are higher chances of it performing well even in the future.

This means your chances of getting good returns will be higher.

High rated funds for ULIP

ARTICLES WORTH READING

  • Should You Invest in Unit Linked Insurance Plans (ULIPs)?

    read more
  • 3 Steps to Choose the Best ULIP 

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  • Make the Most Out of Your ULIP

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  • What is Partial Withdrawal in ULIP?

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  • Investing in ULIPs – A Simple Way to Turn Your Dreams into Reality

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  • Simple Things to Know About ULIPs

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  • ULIP for Your Child’s Future

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  • Mutual Funds or ULIPs - Where to Invest?

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  • How to Achieve Your Life Goals With ULIP

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  • ULIP - A Gift That Will Earn Wealth Itself!

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