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Unit Linked Insurance Plans - Top Selling Plans

Canara HSBC Life Insurance offers online ULIP plans that blend life insurance protection with investment growth, helping you build wealth while securing your family's future.

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Unit Linked Insurance Plans - Top Selling Plans

Canara HSBC Life Insurance offers online ULIP plans that blend life insurance protection with investment growth, helping you build wealth while securing your family's future.

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Secure Your Future with Confidence

Life Cover up to 100× Annual Premium 12 Fund Choices Automated Portfolio Strategies Maturity Booster

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Secure Your Future with Confidence

Life Cover up to 100× Annual Premium 12 Fund Choices Automated Portfolio Strategies Maturity Booster

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Invest Smart, Live Smart

Flexible Premium Options Multiple Fund Allocations Systematic Withdrawals Premium Waiver Benefit

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Invest Smart, Live Smart

Flexible Premium Options Multiple Fund Allocations Systematic Withdrawals Premium Waiver Benefit

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Popular Search

ULIP Returns In 15 Years Difference Between ULIP and Mutual Fund ULIP Vs SIP Mortality Charges In ULIP What is NAV? How ULIP Works? Tips to Buy ULIPs

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Popular Search

ULIP Returns In 15 Years Difference Between ULIP and Mutual Fund ULIP Vs SIP Mortality Charges In ULIP What is NAV? How ULIP Works? Tips to Buy ULIPs

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Popular Search

ULIP Calculator Power of Compounding Calculator ULIP Tax Benefits in India

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Popular Search

ULIP Calculator Power of Compounding Calculator ULIP Tax Benefits in India

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Popular Search

What is ULIP? ULIP Tax Benefit ULIP Full Form ULIP Vs Term Insurance Best ULIP Plans Best ULIP Plan For Child Allocation Charges In ULIP

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Popular Search

What is ULIP? ULIP Tax Benefit ULIP Full Form ULIP Vs Term Insurance Best ULIP Plans Best ULIP Plan For Child Allocation Charges In ULIP

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Wealth Today, Protection Always

Life Cover up to 100 Years 13 Fund Options Fund Switching Option Waiver Of Premium

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Wealth Today, Protection Always

Life Cover up to 100 Years Fund Switching Option Waiver Of Premium

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Glossary

Section 80C: Deduction on ULIP premiums up to ₹1.5 lakh within the overall limit; reduces taxable income Section 10(10D): Tax-free maturity/death proceeds if eligibility conditions (like premium thresholds) are met

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Key Takeaways

ULIP premiums qualify for tax deductions of up to ₹1.5 lakh under Section 80C ULIP maturity and death benefits may be tax‑free under Section 10(10D) , under suitable conditions

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What is a Unit Linked Insurance Plan (ULIP)?

A Unit Linked Insurance Plan (ULIP) combines life insurance with market-linked investments, letting you build wealth while securing your family’s future. Part of your premium goes towards life cover, and the rest is invested in funds aligned to your risk profile (equity, debt, or balanced). This structure is central to ULIP benefits for long-term investors seeking protection plus growth.

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What is a ULIP Plan?

A ULIP is an insurance product that provides you with the double benefit of investment to achieve long-term wealth creation goal, and a life cover to secure your family’s future if there is an unfortunate event. The premium paid for ULIP is divided into two parts. One part of the premium is used for your 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 a combination of both funds depending on your risk appetite. The returns on the investment depend upon the performance of the funds.

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More Than Tax Savings: Key ULIP Benefits Explained

Fund Switching Flexibility: Use fund switching to actively realign your ULIP, shifting across equity, debt, and balanced options as your risk profile and markets evolve, while keeping taxation tied to overall policy eligibility rather than each switch. Switch between equity, debt, and balanced funds without exit loads within policy rules Rebalance as risk tolerance and market conditions change Tax outcomes follow overall ULIP eligibility, not each switch

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Benefits of a ULIP Plan

Flexibility: ULIP plans allow you to switch to a different investment option. This can be useful if you do not have fixed financial goals or wish to rebalance your investments by shifting between funds. It provides you with greater flexibility by allowing you to control where and in what proportion your money is invested. The following features provided by ULIPs enable this flexibility: Fund Switching Option: Through the use of this feature, you can move your money between funds based on your investment preferences. For example, you may have invested a significant portion of your money in equity funds and now wish to transfer some of it to safer debt funds. The fund switching option allows you to do this. Redirection of Premium: ULIPs provide multiple fund options for investment. If you have invested in one fund earlier and no longer find it suitable, you can choose another fund, and the future premiums will be redirected to that fund. Partial Withdrawal Facility: This option allows you to withdraw a portion of your funds if required, subject to policy terms and the completion of the lock-in period. Top-up Facility: Through this feature, you can add additional funds to your existing ULIP investment without changing the policy.

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What is a Unit Linked Insurance Plan (ULIP)?

ULIPs also offer flexibility to switch between funds, top-up investments, and adjust premiums within policy rules, making them adaptable to changing goals. This flexibility, along with potential ULIP tax benefits under current law, has made ULIPs popular among goal-based planners .

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Things to Keep in Mind Before Investing in a ULIP Plan

Flexibility: ULIP offers you the flexibility to switch between the funds . When buying a ULIP, you must consider the cost and ease of switching, as well as complimentary switches during the policy period.

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Top 5 ULIP Tax Benefits You Should Know

10(10D) Exemption on Maturity (Subject to Conditions): Maturity proceeds can be tax-free if the policy meets Section 10(10D) conditions, including the aggregate ULIP premium threshold test. Staying within ₹2.5 lakh aggregate annual premium across ULIPs preserves this ULIP tax exemption. Monitor premiums across policies each year to retain eligibility.​

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ULIP Tax Benefits

The tax treatment of ULIP maturity proceeds depends on the date of policy issuance and the premium amount. For ULIP policies issued before 1 February 2021, the maturity proceeds are generally tax-exempt under Section 10(10D) , irrespective of the premium amount. However, for ULIPs issued on or after 1 February 2021, the maturity amount may be taxable under the head “Capital Gains” if the aggregate annual premium exceeds ₹2.5 lakh, as per prevailing tax provisions.