ULIPs (Unit Linked Insurance Plans)
Why ULIPs?
Unit linked insurance plans (ULIPs) are a category of goal-based financial solutions that combine the safety of life insurance protection along with long term wealth creation opportunities. In ULIPs, a part of the premium goes towards providing you life cover &the remaining portion is invested in fund(s) which in turn is invested in stocks or bonds. The value of investments alters with the performance of the underlying fund opted by you. Simply put, ULIPs are structured in such a way that the life protection element and the savings element are distinguishable, and hence can be managed according to your specific needs.
Why do I need ULIPs?
Freedom to choose your life insurance cover: In a unit linked policy, you can choose the extent of life insurance cover that you can enjoy. In most ULIPs, the minimum life insurance cover that you get is 5 times the annual premium. The upper limit can be as much as 100 times of your annual premium or even higher, depending on the policies of the insurance companies.
Freedom to choose your investment type: Depending on your investment preference, unit linked insurance plans allow you to invest in various asset classes like equity, debt or money market. What’s more, you can switch between these asset classes seamlessly with almost no charges.
Flexibility of additional investment: In ULIPs, you can anytime invest an additional amount, called top-up, at a very nominal charge to enjoy the benefit of greater savings.
Liquidity: ULIPs have a partial withdrawal option, so that you can withdraw your money in case of emergencies. These partial withdrawals are usually free of cost.
Goal based planning: ULIPs are structured to help you secure your key goals such as Retirement planning or saving for your child’s education. So, apart from the life insurance benefit and the advantage of investments, ULIPs also give you the added benefit of knowing that your premium is working towards securing your future goals.
Tax benefits: Apart from protection and savings, unit linked plans also offer tax benefits. Not only you can claim the insurance premium paid towards reduction from your taxable income, the maturity benefits are also completely tax free, as per prevailing tax laws
Top ULIPs Plans
ICICI Pru LifeStage Wealth II
A Quick look
ICICI Pru LifeStage Wealth II is a unit linked insurance plan that offers multiple choices to decide how your savings would be invested based on your risk appetite. Further, it provides you with an insurance cover to help you realize your dreams without compromising your family’s protection.
Special Features
A Quick look
ICICI Pru LifeStage Wealth II is a unit linked insurance plan that offers multiple choices to decide how your savings would be invested based on your risk appetite. Further, it provides you with an insurance cover to help you realize your dreams without compromising your family’s protection.
Special Features
- Multiple portfolio strategies
- Fixed Portfolio Strategy
- LifeCycle based Portfolio Strategy
- Trigger Portfolio Strategy
- Flexible premium payment options
- Top up
- Loyalty Additions
- Automatic Transfer Strategy
- Tax Benefits
ICICI Pru LifeTime Premier
A Quick Look
ICICI Prudential presents ICICI Pru LifeTime Premier, a comprehensive savings plan that offers you a choice of portfolio strategies for your savings and at the same time secures you against uncertainties of life.
Special Features
A Quick Look
ICICI Prudential presents ICICI Pru LifeTime Premier, a comprehensive savings plan that offers you a choice of portfolio strategies for your savings and at the same time secures you against uncertainties of life.
Special Features
- Trigger Portfolio Strategy
- Flexible premium payment options
- Loyalty Additions
- Top up
- Automatic Transfer Strategy
- Tax Benefits
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ICICI Pru LifeLink Wealth SP
A Quick Look
ICICI Pru LifeLink Wealth SP is a unique single premium ULIP that provides you the opportunity to enjoy market linked higher returns over the long term on your investments, with just a single premium. This product also offers you a unique strategy that allows you to protect gains made through your funds invested in the equity markets from any future equity market volatility.
Special Features
A Quick Look
ICICI Pru LifeLink Wealth SP is a unique single premium ULIP that provides you the opportunity to enjoy market linked higher returns over the long term on your investments, with just a single premium. This product also offers you a unique strategy that allows you to protect gains made through your funds invested in the equity markets from any future equity market volatility.
Special Features
- Single premium ULIP
- Trigger Portfolio Strategy
- Loyalty Addition
- Two options of Sum Assured
- Top up
- Tax benefits
ICICI Pru Pinnacle Super
A Quick look
ICICI Pru Pinnacle Super is a unit linked insurance plan that offers you multiple choices on how to invest your savings. This plan also offers you a choice of how many premiums you want to pay while allowing you to enjoy insurance protection for the policy term.
Special Features
A Quick look
ICICI Pru Pinnacle Super is a unit linked insurance plan that offers you multiple choices on how to invest your savings. This plan also offers you a choice of how many premiums you want to pay while allowing you to enjoy insurance protection for the policy term.
Special Features
- Choose how to save
- Choose your guarantee
- Return Guarantee Fund
- Choose how long you wish to save
- Get rewarded with a Loyalty Addition of 2%
LIC's Endowment Plus is a unit linked endowment plan.
Special Features:
Special Features:
- Double benefits of Insurance and Investment
- Funds available under this plan are -Bond, Secured, Balanced and Growth fund.
- A policyholder can partially withdraw the units at any time after five policy years.
- Loan can be availed after completion of 3 policy years.
- Policy can be surrendered after completion of 5 years with no surrender charge.
- Premiums can be paid in yearly, half-yearly, quarterly and in monthly (ECS) installment OR in single installment.
- Policyholder can switch between any fund types during the policy term. 4 switches will be allowed free in a policy year.
- Policyholder has a option to enhance the risk cover by choosing the Double Accident benefit rider and the Critical Illness Rider.
- On death of the policyholder, the nominee will be eligible to get higher of Sum assured (minus partial withdrawal if any done during last two years) or the Fund value of units.
- In case of maturity the policyholder will get amount equal to the Fund value of the units.
- Maturity returns can be amplified by exercising 'Settlement Option', through which returns can be taken in installments.
- Enjoy tax benefit under section 80CCE.
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