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First documentTypes of Unit Linked Insurance Plans (ULIP) in India 2026Open original ↗
A-659
Second document5 Reasons to Use ULIPs for Building a Retirement CorpusOpen original ↗
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First paragraph67 words
How to Choose the Right ULIP Plan?
Check Out the Tax Benefits: Investing in ULIP offers tax benefits . You can claim a deduction on your ULIP premiums of up to ₹ 1.5 lakh per annum, subject to conditions prescribed under Section 80C of the Income Tax Act, 1961 . Additionally, the maturity benefit is exempted subject to conditions prescribed under Section 10(10D)* of The Income Tax Act, 1961, which further maximises your tax efficiency.
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Second paragraph50 words
Features of ULIP
Tax Benefits: Investments made in ULIPs are eligible for tax deductions under Section 123 of the Income Tax Act (up to ₹1.5 lakh annually). Additionally, the maturity proceeds may be tax-free under Schedule II (Table S.No. 2) (previously known as Section 10(10D) ), subject to certain conditions.
First paragraph35 words
Features of ULIP Plans
Lock-In Period: ULIP come with a five-year lock-in period, encouraging disciplined savings. Staying invested for longer generally improves your chances of earning better returns. It is suitable for long-term financial goals.
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Second paragraph37 words
Features of ULIP
Long-Term Wealth Creation: Since ULIPs have a lock-in period of 5 years, they encourage long-term investing. This disciplined investment approach helps build substantial wealth over time through the power of compounding and market growth.
First paragraph85 words
What is a ULIP Plan?
A ULIP (Unit Linked Insurance Plan) is an insurance product that offers you a dual benefit of life cover and investment to achieve long-term wealth creation . The premium paid for this plan is divided into two parts: one part of the premium goes towards life cover, and the remaining sum is invested in the fund of your choice. In ULIP plans, you can invest your money in equity, debt, or both as per your risk appetite. The ROI depends upon the performance of funds.
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Second paragraph46 words
Features of ULIP
Dual Benefit of Insurance and Investment: ULIPs provide life insurance coverage along with the opportunity to grow your wealth . A part of your premium goes toward securing a life cover, while the rest is invested in market-linked instruments such as equity, debt, or hybrid funds.
First paragraph52 words
Features of ULIP Plans
Flexible Fund Choices: ULIPs allow you to invest based on your risk comfort. If you prefer steady and low-risk growth, debt funds work well. If you seek higher returns and are comfortable with market fluctuations, equity funds are a suitable option. You can also switch between funds as your goals change.
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Second paragraph36 words
Features of ULIP
Multiple Fund Choices: ULIPs typically offer a variety of fund options ranging from high-risk equity funds to low-risk debt funds. You can choose where to invest based on your financial goals and risk tolerance.
First paragraph88 words
How to Choose the Right ULIP Plan?
Check Fund Options: ULIPs offer a diverse range of investment funds to cater to different investment goals and risk appetites. Equity funds allocate most of their portfolio to stocks. In contrast, debt funds primarily invest in fixed-income assets like government and corporate bonds, along with money market instruments. Lastly, hybrid funds invest in a mix of equities and debt instruments to provide a balanced approach to risk and return. You need to evaluate different investment funds to build a well-diversified ULIP portfolio tailored to your needs.
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Second paragraph36 words
Features of ULIP
Multiple Fund Choices: ULIPs typically offer a variety of fund options ranging from high-risk equity funds to low-risk debt funds. You can choose where to invest based on your financial goals and risk tolerance.
First paragraph53 words
How to Choose the Right ULIP Plan?
Compare Lock-in Period: ULIPs have a lock-in period of five years. During this duration, your investment remains locked, and you cannot make partial withdrawals. You must carefully understand the terms and conditions of the plan, particularly regarding the lock-in period, and evaluate your liquidity needs to avoid any hassles later.
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Second paragraph37 words
Features of ULIP
Long-Term Wealth Creation: Since ULIPs have a lock-in period of 5 years, they encourage long-term investing. This disciplined investment approach helps build substantial wealth over time through the power of compounding and market growth.
First paragraph68 words
How to Choose the Right ULIP Plan?
Evaluate your Risk Appetite: ULIPs offer a range of funds, including equity, debt and balanced funds. Your choice of funds will depend on your risk appetite. For instance, equity funds are considered high-risk investments, whereas debt funds are considered low-risk investments. Balanced funds strike a balance between the two. You must assess your risk tolerance for investments and choose a ULIP that matches your comfort level.
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Second paragraph36 words
Features of ULIP
Multiple Fund Choices: ULIPs typically offer a variety of fund options ranging from high-risk equity funds to low-risk debt funds. You can choose where to invest based on your financial goals and risk tolerance.