Finding the right insurance plan for a better tomorrow can be an overwhelming task. But what if we tell you that you can seek the benefits of investment as well as insurance – both under a single policy? That’s right! ULIPs or Unit Linked Insurance Plans offer you the potential to grow your wealth along with the security of a life cover and helps you yield good returns. You may have financial goals such as – investing for the future or saving for your child’s education or even planning your own retirement. A Unit Linked Insurance Plan helps you achieve such long-term financial goals in a smart way.
ULIP plan provides you with dual benefits – wherein a portion of your premium is paid towards life insurance while the remaining is used for investing in funds of your choice.
You can choose to invest in equity-oriented funds, debt funds, or a combination of the two (depending on your risk appetite). People with a high-risk appetite can invest in equity-oriented funds; whereas those with a low-risk appetite can invest in debt funds. Know that you can always switch from debt to equity and vice versa, depending on the market movement.
As a parent, you know that child investment plans are a necessity. With a rise in education-related costs, ensuring that your child can pursue their dreams is important. Here's where the best ULIP plans at Bajaj Finserv Direct are of help. You can choose the funds to invest in, can switch between funds, and secure your child's future.
where the best ULIP plans at Bajaj Finserv Direct are of help. You can choose the funds to invest in, can switch between funds, and secure your child's future.
Enjoy post-employment life knowing your future is secured with retirement plans. With a surge in living costs, having funds at your disposal gives you financial freedom, without depending on your provident fund. Go with Bajaj Finserv Direct and enjoy tax-free investments, free life cover and other such ULIP benefits.
freedom, without depending on your provident fund. Go with Bajaj Finserv Direct and enjoy tax-free investments, free life cover and other such ULIP benefits.
Small investments go a long way! Be it saving money to enable your child to pursue their dream or dealing with post-retirement requirements, investments made today will make a big difference tomorrow. With ULIPs at Bajaj Finserv Direct, enjoy investment benefits like free life cover, flexibility in fund allocation and zero allocation charges.
big difference tomorrow. With ULIPs at Bajaj Finserv Direct, enjoy investment benefits like free life cover, flexibility in fund allocation and zero allocation charges.
With premiums invested in both equity and debt, and a minimum lock-in period of 5-years, ULIP plans are the best option for long-term financial planning.
With a ULIP you get to the dual benefits of an investment plan along with a life insurance policy.
With all charges detailed in the ULIP plan policy document itself, customers know what they pay for and how the funds are used.
Under the Income Tax Act of 1961, ULIPs are tax-free investments. As a customer, you needn't pay any tax during investment, while your money grows, during fund switches or during maturity.
ULIPs offer the benefit of a life cover which ensures that your family is secure, even in your absence.
ULIP is one of the most reliable wealth creation instruments available in the market. With this product, you can reap multiple benefits that it has in store. Let us tell you why to invest in ULIP plan.
Already investing in Mutual Funds or saving money in Fixed Deposits? That’s ok. You should still consider investing in a Unit Linked Insurance Plan. The difference between ULIPs, Mutual Funds, and FD can be summarised with the following table –
|
ULIPs |
Mutual Funds |
Bank Fixed Deposits |
Nature of Product |
Combination of life insurance and investment facility. |
Pure investment option. |
Fixed investment option. |
Coverage |
Provides life cover that is a minimum ten times the premium amount. |
It does not offer a life cover. |
It does not offer a life cover. |
Tenure Of Investment |
Long-term |
Either be short, medium, or long-term |
Short-term |
Tax Benefits |
The premiums paid up to INR 1.5 lakh are exempted from tax under Section 80C of the Income Tax Act, 1961. The maturity amount is tax-free under Section 10(10)D. |
Only the Equity Linked Savings Schemes (ELSS) investments are exempted from tax under Section 80C of the Income Tax Act, 1961. |
The invested amount of up to INR 1.5 lakh is tax exempted under Section 80C of the Income Tax Act, 1961. The maturity interest amount is taxable. |
Flexibility |
Flexibility of choice when switching between funds. |
No such flexibility offered. |
No such flexibility offered. |
Returns |
ULIP returns depend on the type of funds you choose to invest, depending on the market performance. |
Mutual fund returns depend on fund allocation in conjunction with the market performance |
Fixed returns |
Buyer |
Female; 32 years old; child of 5 years old |
Amount To Be Invested |
INR 10,000 every month |
Policy Term |
20 Years |
Premium Paying Term |
7 Years |
Expected Maturity Return |
INR 35.05 Lakhs |
You can choose from the following types of ULIPs available on our platform -
Retirement Plan – Invest in a pension plan to prepare yourself for a secured life post-retirement. Under this plan, an individual pays the premium during the tenure of his/her employment. This premium is divided into two parts – one part goes towards your life insurance cover and the other part is invested in an instrument of your choice. This small amount that you periodically invest builds a corpus which you can use after retirement.
Child Plan – With a child plan, you take a step towards securing your child’s future. Whether it’s your child’s education, marriage or any other important event, this plan helps you to stay financially secure. A child plan also offers life insurance cover for your child. This way, you can protect your child against any unforeseen situations and ensure they realize all their dreams.
Investment Plan – Your earnings today might not be adequate tomorrow. Moreover, high inflation rates and constantly rising prices of commodities can eat away your savings. Therefore, it is necessary to invest today to secure your future! An investment plan can help you achieve your goals of long-term wealth creation and security for your family. What’s more? Your investment in ULIPs, as well as returns on maturity, are tax-free!
We at Finserv MARKETS offer three types of ULIP plans –
Depending on your financial needs, you can choose to invest in one of the options available. But before you make any decisions, let us first understand each plan based on the examples below.
If you are a mother wanting to save for your child’s future monetary needs –
Buyer |
Female; 32 years old; child of 5 years old |
Amount To Be Invested |
INR 10,000 every month |
Policy Term |
20 Years |
Premium Paying Term |
7 Years |
Expected Maturity Return |
INR 35.05 Lakhs |
If you are working towards saving for your retirement –
Buyer |
Male; 30 years; for retirement purpose |
Amount To Be Invested |
INR 1 Lakh annually |
Policy Term |
20 Years |
Premium Paying Term |
15 Years |
Expected Maturity Return |
INR 50.17 Lakhs |
If you are a young professional wanting to invest in the market to grow a steady corpus –
Buyer |
Female; 24 years; for investment purpose |
Amount To Be Invested |
INR 10,000 every month |
Policy Term |
20 Years |
Premium Paying Term |
15 Years |
Expected Maturity Return |
INR 57.95 Lakhs |
Dealing in the stock market comes at a price. When you make ULIP investments, it is essential to understand the risk involved. Hence, before you choose a ULIP plan, make sure that you have calculated the risk in advance.
Like we mentioned earlier, you can either invest in high-risk equity funds or low-risk debt funds. With ULIP, you also get an option to invest in funds that are a combination of the two. The risk involved for you as an investor can be calculated with the help of our ULIP risk calculator.
The best ULIP plans allow you the choice of investing in equity, debt or a mix of both. Though volatile, equity funds come with long-term high growth potential whereas debt funds are a safer choice. In addition to this, there's always the choice of investing in balanced funds (a mix of equity and debt). Based on your risk appetite, you can choose to invest in either of the three options.
Under the Income Tax Act of 1916, you can save money by investing in a ULIP. In doing so, you must know that there are tax advantages at various stages of your life insurance policy which should be offered by the insurance provider you choose to go with. The advantages of the best ULIP plans in the markets include tax exemption at the time of investment (under sections 80C, 80CCC and 80D), tax exemption when the money invested grows, tax exemption during fund switches, and finally, exemption during maturity benefit.
Two of the most important financial needs of life are met when one invests in a ULIP - protecting and savings. Transparency is important and hence it is important that your insurance provider clearly mentions the following charges before you purchase – 1. Premium Allocation charge, 2. Policy Administration charge, 3. Mortality charge and 4. Fund Management charge.
Before you decide to invest in ULIPs, make sure that you well-versed with its features.
Here’s a list of ULIP charges that you should know –
The lock-in period for ULIPs is five years. This means that for the first 5 years, the money that you invest in ULIPs gets locked. After this period is over, you are allowed to withdraw funds from your ULIP plan, however, this is not recommended. The longer you stay invested in a ULIP plan, better are the chances of earning good returns.
Type 1 ULIPs |
|
Type 2 ULIPs |
|
In the long run, each investment makes a significant difference to your portfolio, further taking you closer to your financial goals. Hence, for each financial purpose in your life, there is a ULIP plan available in the market. Bajaj Allianz Life’s ULIP Plans are a reliable mode of investment for accomplishing your dual needs – insurance as well as building your wealth alongside.
That’s not it!
With Bajaj Allianz Life’s ULIP plans available on Finserv MARKETS, you can benefit from facilities such as partial withdrawal of funds, alter premium payment frequency, rider options, and more. Some plans also offer features like the return of mortality charges, return enhancers, loyalty additions, fund boosters, and more.
Just browse the range of online plans and choose a policy that best suits your financial needs to get high ULIP returns.
Lack of adequate knowledge and misinformation has led to a lot of myths hovering around investments in ULIPs. Let’s break them!
ULIPs give you an option to invest in market instruments that can either be debt only, equity only or a mixture of debt and equity. You can choose funds that best suit your need, risk appetite, and long-term objectives. With Bajaj Allianz ULIPs, you also get the facility to switch between funds at any given point in time depending on your personal preference and risk appetite.
You can! ULIPs allow you to invest your surplus funds. You can pay a top-up premium at any given point in time during the tenure of the ULIP and enjoy the same benefits and tax deductions.
Market volatility has no effect on your insurance cover. Your insurance policy remains intact irrespective of the rise or fall in the market. In case the insured dies during the tenure of the policy, he / she gets the full amount of the life cover as stated in the policy.
ULIPs are long term investment products, where returns are dependent on the performance of the funds that one has invested in. With a good selection of funds and efficient switching between funds at the right time, Bajaj Allianz ULIPs can give good returns over a long-term period along with an insurance cover.
It is still unknown to people that charges of investing in ULIPs have reduced significantly. The charges that are typically levied on your premium amount are – premium allocation charges, policy admin charges, fund management charges and mortality charges. Insurance Regulation Development Authority of India (IRDAI) has capped these annual charges to a good extent. If the lock-in period of your ULIP plan is 10 years or less, these charges may be a little higher as compared to ULIP plans with a 10 year+ lock-in period. Therefore, it makes sense to invest in ULIPs for long durations.
Filing claims was never so simple. Just follow these steps and you’re done!
Have a look at our exclusive Bajaj Allianz Life’s ULIP plans available on Finserv MARKETS designed to help you achieve your financial goals.
Learn more about Unit Linked Insurance Plans. Read in detail about the terminology used in these plans, the investment options, the top myths about ULIPs, current trends and much more. Have a look at the top articles on ULIPs before you explore Bajaj Allianz Life's exclusive ULIP plans available on Finserv MARKETS.
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5 reviews
Bajaj Allianz ULIP Plan available on Finserv MARKETS helped me avail life cover as well as make investment to secure my future. Then application process was simple and the service offered was very efficient.
Posted on 30 Jan 19
Thanks to Bajaj Allianz ULIP plan, I am able to save for my retirement in a smart way. The documentation required to avail ULIP plan was minimal. I am happy and satisfied with the service I received.
Posted on 5 May 19
ULIPs available on Finserv MARKETS allowed me to make an investment according to my risk appetite. I was able to invest in both debt and equity funds. Also, I got a life cover by availing the ULIP plan.
Posted on 1 Nov 19
When I was looking for a good investment option that could help me build wealth for my retirement, I came across ULIPs on Finserv MARKETS. With quick application process and minimal documentation, I got my ULIP very easily.
Posted on 20 Feb 20
The first thing I decided to do when my daughter was born, was to save more. That is when I came across Bajaj Allianz ULIPs. With complete transparency and great customer support at Finserv MARKETS, investing in ULIPs is now easier than ever.
Posted on 29 Mar 20
When my first baby was born, one of the most important things I wanted for her was ample savings. That’s when a friend suggested Unit Linked Insurance Plans (ULIP). This is when I invested in the ULIP Child plan which is one of the best investment plans in the market with complete flexibility to invest in funds of your choice.
Posted on 30 Mar 20
During my ending years of service, a friend suggested that I secure my retirement with the right financial coverage through investment in tools like ULIPs. With high returns and investment in choice of funds, Unit Linked Insurance Plan helped me save an ample amount for my retirement life. Great plan.
Posted on 09 Apr 20