Finance

What are large cap ULIP funds?

Unit linked insurance plan or ULIP is a product from an insurance company. It is a very popular investment option present in the market to suit the requirements of various investors. Many people prefer investing in this investment option because it provides dual benefits including life insurance cover and investment opportunity. The money that is given by the investors to the insurance company is partially invested into equity, debt, and money market securities. The remaining amount is used by the insurance company to provide the life insurance cover to the investors. So unit linked insurance plan or ULIP is one of the best investment options present in the market.

There are various charges associated with ULIP plans which are known as ULIP charges. These charges are levied by the insurance company from the policyholders. ULIP charges include premium allocation charges, policy administration charges, fund management charges, and more.  The insurance company generally does not directly tell the policyholders about these hidden charges. It is important that a policyholder does thorough research before buying any unit linked insurance plan. Research helps to select the plan as per affordability and requirement. Various online tools can be used that can help to compare the features and benefits of various plans from different insurance companies.

Check out some of the best unit linked insurance plans or ULIP plans present in the Indian market:

  • Kotak Invest Maxima Plan: Kotak Invest Maxima Plan is a unit linked insurance plan from Kotak Life Insurance. The best thing about this plan is that it does not charge any allocation charge. There are some rewards for the people who invest for a long period of time. This plan provides the flexibility to the insured for choosing the investment strategy. The minimum age at entry is 18 years and the maximum age at entry is 65 years. The minimum age at maturity is 10 years and the maximum age at entry is 75 years. The policy term for regular premium is 10, 15, 20, 25, or 30 years. The policy term for limited premium is 10, 15, 20, 25, or 30 years. The policy term for single premium is 10 years. The minimum regular premium amount is Rs. 50,000 and the maximum regular premium amount is Rs. 1,00,000. The minimum limited premium amount is Rs. 75,000 and the maximum limited premium amount is Rs. 1,00,000. The minimum single premium amount is Rs. 1,00,000 and the maximum single premium amount is Rs. 2,50,000. The regular premium payment term is similar to the term of the policy. The limited premium payment term is 5 years. Annual and single are the two modes of premium payment. For more information about Kotak Invest Maxima Plan, check out the information available at the website of Kotak Life Insurance.
  • Wealth Accumulation Plan: Wealth Accumulation Plan is a unit linked insurance plan or ULIP from Edelweiss Tokio Life. This plan provides guaranteed maturity benefits to the insured. The fund value is provided to the insured if he survives till the maturity of the policy. A death benefit is provided to the beneficiary of the insured when the insured dies before the maturity of the policy. The insured is provided with the facility to switch the fund. The insured can avail various tax benefits as per sections 80C and 10(10D) of the Income Tax Act, 1961. For detailed information about Wealth Accumulation Plan, visit the product brochure available at the official website of Edelweiss Tokio Life. The minimum age at entry is 5 years and the maximum age at entry is 65 years. The minimum age at maturity is 18 years and the maximum age at maturity is 75 years. The modes of the premium payment that are available in the plan are Monthly, quarterly, semi-annually, and annually; you can choose any as per your suitability. The minimum premium amount is Rs. 25,000 in case of annual mode. The minimum premium amount is Rs. 18,000 in case of semi-annual mode. The minimum premium amount is Rs. 9,000 in case of quarter mode. The minimum premium amount is Rs. 3,500 in case of monthly mode. The minimum premium amount is Rs. 5,000 in case of top-ups. No limit has been specifies for the maximum premium amount. The policy terms are 10, 15, 20, 25 and 30 years. The regular premium term is equal to the policy term. The limited premium term is 5, 7, or 10 years.
  • DHFL Wealth Maximiser Plan: DHFL Wealth Maximiser Plan is a non participating unit linked insurance plan from DHFL Pramerica Life. This plan provides flexibility to the insured to choose investment option. The minimum charges are charged from the policyholders. The minimum age at entry is 90 days and the maximum age at entry is 65 years. The minimum age at maturity is 18 days and the maximum age at maturity is 75 years. For people aged between 0 – 4 years, the minimum policy term is 5 years and the maximum policy term is 30 years. For people aged between 41 – 65 years, the minimum policy term is 5 years and the maximum policy term is 25 years. For single pay, the minimum policy term is 5 years and the maximum policy term is 10 years. The minimum annual premium amount is Rs. 36,000. The minimum semi-annual premium amount is Rs. 18,000. The minimum quarterly premium amount is Rs. 9,000. The minimum monthly premium amount is Rs. 3,000. The minimum top up premium amount is Rs. 5,000. For detailed information about DHFL Wealth Maximiser Plan, visit at the official website of DHFL Pramerica Life. A free look period of 15 days is provided by the insurance company to the policyholder. In case of distance marketing, a free look period of 30 days is provided by the insurance company to the policyholder. Single, annual, semi-annual, quarterly and monthly are the various modes of premium payment available in the plan. With defined portfolio strategy, the policyholder is provided with an option to manage the funds actively as per the market conditions. Higher rewards are provided on investing for a longer term.
  • Tata AIA Life Insurance Fortune Pro Plan: Tata AIA Life Insurance Fortune Pro Plan is a unit linked insurance plan from Tata AIA Life. The minimum age at entry is 30 days and the maximum age at entry is 59 years. The minimum age at maturity is 18 years and the maximum age at entry is 75 years. The minimum policy term is 15 years and the maximum policy term is 40 years. The modes of the premium payment available in the plan are annual, semi-annual, quarterly and monthly. You can choose any as per your comfort. For single pay, the minimum yearly premium amount is Rs. 1 lakh. For limited pay, the minimum yearly premium amount is Rs. 50,000. For single and limited pays, the maximum premium amount is Rs. 5 lakh. The premium amount can be paid in single, limited, or regular pay. The premium paying term is 5, 7, or 10 years for limited pay. The premium paying term is 15 or 20 years for regular pay. The minimum top up premium amount is Rs. 5,000. A grace period of 15 days is provided by the insurance company to the insured for the payment of the premium under monthly mode. A grace period of 15 days is provided by the insurance company to the insured for the payment of the premium for other modes. A free look period of 15 days is provided by the company so that the policyholder can check the terms and conditions of the policy.
  • BSLI Fortune Elite Plan: BSLI Fortune Elite Plan is a non-participating unit linked insurance plan from Aditya Birla Sun Life Insurance. The minimum age at entry is 1 year and the maximum age at entry is 55 years. The maximum age at maturity is 75 years. The policy term is 20, 25, 30, 35, or 40 years. The premium paying term is 5, 10, 15, or 20 years. The minimum basic premium amount is Rs. 40,000. The minimum sum assured is Rs. 4,00,000. The minimum top up premium amount is Rs. 5,000. Monthly, quarterly, semi-annual, annual are the various modes of premium payment available in the plan. This plan has 3 investment options; you can choose as per your investment requirements. As per sections 80C and 10(10D) of the Income Tax Act, 1961, you are eligible for various tax benefits. This plan provides you an opportunity to withdraw the amount partially in case of an emergency. The fund value is provided by the insurer to the insured at the time of maturity. The policyholder can surrender the policy in case of an emergency during the tenure of the policy. If you are planning to buy this plan, make sure to check out the product brochure of BSLI Fortune Elite Plan at the official website of Aditya Birla Sun Life Insurance. In this plan, policy loans are not allowed.

Conclusion:

ULIP or Unit linked insurance plan is one of the best investment options. Many people prefer to invest in ULIP plans as there are various advantages of investing in unit linked insurance plans. The insurance company collects money from various policyholders. The money is invested partially by the insurance company into equity, debt, and money market instruments. The remaining amount is used by the insurance company to provide life insurance cover to the policyholders. Unit linked insurance plans provide dual benefits to the policyholders. The dual benefits include investment option and life insurance cover. Many people keep on delaying their investment decision which is not a right approach. It is better to start as early as possible so that you can enjoy maximum benefits in the future.

Kotak Invest Maxima Plan, Wealth Accumulation Plan, DHFL Wealth Maximiser Plan, and Tata AIA Life Insurance Fortune Pro Plan are some of the best unit linked insurance plans present in the Indian market. You must do a lot of research before selecting a unit linked insurance plan. The features and benefits of various plans should be compared before selecting any unit linked insurance plan. You must check the online ratings and reviews given by the other people about various ULIP plans. The online medium provides a great support in selecting the best plan as per your budget and need. You can take the help from the agents but try to not depend on them completely as they may missell in order to earn a higher commission. You must check the credibility of the insurance company before buying any plan.

If you are looking for the answers to various questions including:

  • What is a unit linked insurance plan or ULIP?
  • What are some of the best unit linked insurance plans or ULIP plans present in the Indian market?
  • What are the features and benefits of Kotak Invest Maxima Plan?
  • What are the features and benefits of Wealth Accumulation Plan?
  • What are the features and benefits of DHFL Wealth Maximiser Plan?
  • What are the features and benefits of Tata AIA Life Insurance Fortune Pro Plan?
  • What are the features and benefits of BSLI Fortune Elite Plan?

Then you are at the right place; please do scroll up the page in order to get answers to all of your questions.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top