Insurance

What is a ULIP?

A Unit Linked Insurance Plan or ULIP is a popular life insurance product that is making huge waves in the Indian insurance market space. It provides life risk financial security cover along with sound investment options for policyholders. Herein, the ULIP holder may choose to invest in a varied basket of qualified investments of the likes of stocks, mutual funds, or bonds. Under this single integrated plan, the protection and investment components can be managed as per specific choices, risk appetite and needs of the insured. In Unit Linked Insurance Plans (ULIPs), policyholders can make investments that are subject to capital market risks. Therefore, as a prospective ULIP buyer, you are well-advised to make your investment choices post consideration of your appetite and needs for risks.

Here, we help you choose the best unit-linked insurance products for the cause of your life goals, regardless of it being for retirement planning, for your kid’s education/marriage, for your health, or for investment purposes. Read on for more!

What is a ULIP

Some Best Providers of ULIPs

Following are some unit linked investment plans that are topping the list of investments in 2018.

HDFC Standard Life – Balanced Fund Life Super II

HDFC standard life is a ULIP investment, as well as a life protection plan. Along with this particular plan, there are several other ULIPs on the company’s cards; they can be compared on the basis of your risk-taking abilities. The popular ULIPs provided by HDFC Standard Life are HDFC SL Crest, HDFC Life Click2Invest Plan, HDFC Life Pro-Growth Plus, HDFC Life Capital Shield, and HDFC SL plan – choose accordingly.

Future Generali Life – Future Dynamic Growth Fund

The future Dynamic Growth Fund provided by Future Generali can be invested with the purpose of profit maximization. As the Future Dynamic Funds relate to equities only, the market risks associated with them are comparatively high. In most cases, the plan gives a coverage that’s 30 times over the annual premium. The ROI can be bracketed between average to high. The other ULIP products by Future Generali include Future Generali Dhan Vridhi, Future Generali Bima Gain, Future Generali Easy Invest online Plan, Future Generali Wealth protect plus, Future Generali Bima Advantage Plus, Future Generali, etc.

Bajaj Allianz Life – Asset Allocation Pension Fund

The ULIP funds by Bajaj Allianz are designed to generate future wealth for their policyholders. Available as regular and limited premium payment options, they provide user-friendly features such as different frequencies of payment, flexible fund allocation, switching and redirecting of funds, etc. The ULIPs provided by Bajaj Allianz Life include Future Gain, Fortune Gain, Principal Gain, Retire Rich, etc.

The other popular ULIP providers in India include Kotak Ace – Balanced Fund with products like Kotak Ace Investment, Kotak Single Invest Plus, Kotak Single Invest Advantage, Kotak Wealth Insurance, Kotak Platinum, Kotak Invest Maxima, etc. Canara HSBC Life Unit Linked Whole Life Plan – Balanced Fund is another ULIP that can be compared on insurance aggregator sites like Coverfox.com along with other products from the same company like Platinum Plus Plan, Smart Lifelong Plan, Dream Smart Plan, Grow Smart Plan, etc.

Some Reasons Explaining Why ULIP is a Better Choice

The following reasons will help you understand why ULIPs serve to be a good option for attaining your investment goals.

1. Lock-in period

ULIPs are usually available with a 5-year lock-in period to help you fall into the habit of making disciplined and regular investments. They present long term insurance contractual obligations and provide regular tax benefits until the premium paying term ends.

2. High probability of better returns

ULIPs showcase the potential of garnering better returns than most other insurance tools in the fray. The premium paid by policyholders is invested in various asset classes via a large repository of funds. The tax-saving funds are known to give off double-digit returns, however, if you are looking for one-time investment, you may want to invest in different funds each year.

3. Flexibility

ULIPs provide the scope of switching funds within the tenure of the plans.

Buy ULIPs Online

Sites like Coverfox.com are largely instrumental in helping first-time investors, as well as seasoned buyers, get the insurance products of their dream. How would you like to compare and buy different types of ULIPs online on this insurance comparison portal of high repute? Check out the different features and terms and conditions online to align the same with your risk appetite. Before long, you will be having smart investment cum protection insurance tools in your portfolio for meeting your life goals and leading a more relaxed life.