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Wealth Plans / ULIPs
What is ULIP?
A ULIP (Unit Linked Insurance Plan) is a financial product that provides life insurance protection along with investment opportunities. A ULIP plan provides your family with life insurance, while the balance is invested in market-linked8 funds like equity, debt, or a mix of both. The dual benefit of this policy allows you to protect your loved ones and grow your wealth over time to meet long-term goals, such as financing your child's education or retirement planning. In addition, ULIPs give you more control over your financial future by allowing you to choose or switch funds according to your risk appetite.
How does ULIP work?
A ULIP plan combines life insurance protection with investment opportunities in a single product. When you pay your premium, it gets split into two components: one portion provides life cover, while the remaining amount is invested in market-linked8 funds.
Life Insurance Component
A portion of the premium is used to provide life insurance coverage. Upon your death, your nominee receives a death benefit.
Investment Component
The rest of the premium is invested in market-linked8 funds after account for charges. Depending on your risk appetite, you can choose from fund options: equity, debt or hybrid.
Why invest in ULIP policy?
- Get dual benefits
- Avoid the hassle of managing funds
- Multiple fund options
- Benefit from withdrawal options
- ULIPs Plans offer adequate flexibility to the policyholder, be it the fund options, fund allocation or policy tenure.
