How To Select The Best ULIP For Your Portfolio?

ULIPs provide financial protection to the policyholder’s family against any crises that could arise after his/her demise. It also enables the life assured to receive a regular benefit in case he/she is alive. Selecting the right and ideal ULIP plan is important and to choose it, one should always evaluate his/her needs and risk appetite.

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Top ULIP Funds
Fund Name
AUM
Returns (in %)
3 Year
5 Year
10 Year
1,663 Cr
Returns
26.72%
Returns
27.01%
Highest Returns
Returns
20.76%
Get Details
2,894 Cr
Returns
24.45%
Highest Returns
Returns
22.83%
Returns
18.66%
Get Details
2,337 Cr
Returns
23.41%
Highest Returns
Returns
19.4%
Returns
17.94%
Get Details
961 Cr
Returns
20.27%
Highest Returns
Returns
18.65%
Returns
17.15%
Get Details
6,464 Cr
Returns
19.12%
Highest Returns
Returns
17.41%
Returns
16.85%
Get Details
Fund Name
AUM
Returns (in %)
3 Year
5 Year
10 Year
11,380 Cr
Returns
24.25%
Highest Returns
Returns
23.2%
Returns
21.58%
Get Details
1,340 Cr
Returns
30.17%
Highest Returns
Returns
23.17%
Returns
19.65%
Get Details
5,651 Cr
Returns
29.27%
Highest Returns
Returns
26.75%
Returns
19.47%
Get Details
4,058 Cr
Returns
26.02%
Highest Returns
Returns
19.28%
Returns
19.28%
Get Details
5,938 Cr
Returns
24.72%
Highest Returns
Returns
18.51%
Returns
18.52%
Get Details
Fund Name
AUM
Returns (in %)
3 Year
5 Year
10 Year
241 Cr
Returns
13.58%
Returns
14.47%
Highest Returns
Returns
12.81%
Get Details
344 Cr
Returns
13.28%
Highest Returns
Returns
12.53%
Returns
12.17%
Get Details
523 Cr
Returns
10.86%
Returns
10.83%
Returns
11.04%
Highest Returns
Get Details
836 Cr
Returns
13.3%
Highest Returns
Returns
11.91%
Returns
11.02%
Get Details
21 Cr
Returns
13.59%
Highest Returns
Returns
11.77%
Returns
10.81%
Get Details
Fund Name
AUM
Returns (in %)
3 Year
5 Year
10 Year
487 Cr
Returns
19.06%
Highest Returns
Returns
16.57%
Returns
16.12%
Get Details
243 Cr
Returns
7.25%
Returns
8.16%
Returns
9.18%
Highest Returns
Get Details
777 Cr
Returns
5.17%
Returns
7.26%
Returns
8.29%
Highest Returns
Get Details
305 Cr
Returns
5.9%
Returns
7.06%
Returns
8.07%
Highest Returns
Get Details
466 Cr
Returns
4.96%
Returns
7.46%
Returns
8.05%
Highest Returns
Get Details

How To Select The Best ULIP Plans?

Let’s understand how a policyholder can select a good ULIP for him/herself and his/her family:

ULIP plan offers a wide variety of benefits and is considered as one of the good investment options available in the market if selected appropriately. In this, you are required to pay the premiums like any other policy. A part of the premium is invested in the investment element, and the other remaining part is invested in the market to receive better returns. ULIP provides an option to select the amount of coverage so that policyholder’s family will remain financially protected even if someday something happens to him/her. Moreover, ULIP plans also provide policyholders an opportunity to earn from the market investments. 

  1. Ability To Handle Risk

    One of the important elements while selecting the best ULIP plan is to be aware of the capacity of taking risks. At an early age, you can take bigger risks in life. However, your risk handling capacity decreases when you have dependents in your family. Illness is also a factor that decreases your risk-taking ability. Risk-taking capacity helps in choosing which ULIP plan is the right insurance product. Equity funds are the better option for investors who can take big risks. Life insurance providers offer various ULIP fund options. These fund options support fulfilling your life objectives. Before purchasing the policy, a policyholder should also check if the ULIP plan offers a fund switching option or not. With the help of the fund switching option, one can switch from one kind of fund to the other type as per the conditions of the market. 

  2. Personal Investment Objectives

    To meet the life goals financially, the policyholder has to make a smart decision. These life goals can be buying a new house, child education, marriage, and all other related expenses. So, it is very important to determine the objectives of life before choosing the right option for investment. 

    Nowadays, Unit Linked Insurance Plan - ULIP has become a common and popular life insurance product in the Indian insurance industry. It provides financial security cover against any unfortunate event or risk of death. Moreover, it also offers different options for investments. The life assured has the option to invest in several funds such as mutual, bonds, and stocks. The investments are subject to risks of the capital market under this plan. Therefore, to select the best ULIP plan, it is always recommended to make a wise choice of investment funds after considering the risk of appetite and requirements. Choose the plan wisely and invest in ULIP plans smartly. 

Important Parameters To Choose The Best ULIP Plans

Here are the following parameters that one should follow to find a right and an ideal ULIP plan: 

  1. Determine The Risk Associated With The Specific Investment Fund

    As we have already discussed above, that different ULIP plans possess different amounts of risks. So it is very important to understand your capacity to take a risk. It is advisable to not invest in a fund having high risk unless you are sure that you will get good returns from it. 

  2. Check The Life Coverage

    While buying a ULIP plan, always be aware of the death benefits available under the same. A right ULIP plan will offer you a good death benefit that will be highly advantageous for you and your family in the future. 

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  3. Identify Your Investment Objectives

    Why do you want to buy a ULIP plan, should be your first concern. You want to purchase a house or want to save for your child's education, so every kind of investment has a particular goal. Always check your investment goals so that you can choose the right plan. 

  4. Long Time Investments

    ULIP plans are long-term plans so you can also think of planning your retirement with the same plan. Particular ULIP plans are available in the market which are specially designed for your retirement years. These plans provide a regular payout after the end of the plan and let you enjoy your golden period. 

  5. Comparison

    Comparison is very crucial to select the right plan. Nowadays, comparing ULIP plans are quite easy online as the process takes a couple of minutes. 

  6. Life Cover Of Right Amount

    As mentioned earlier, one of the major aims is to meet the financial requirements of the policyholder. These milestones can be a child’s education, child’s marriage, or savings for his/her retirement. Moreover, ULIP also offers life coverage to achieve the dreams of policyholder’s dependents. The policy provides a lump sum amount to the selected nominee in case of an unfortunate event. The plan also offers a minimum coverage of 10X of the annual premium. 

  7. Tax Benefits

    Apart from all these benefits, ULIP also offers tax benefits on paid premiums. The tax deductions were applied as per the prevailing laws of the Income Tax Act, 1961. 

  8. Analyze The ULIP Charge

    In the ULIP plan, the premium amount you are paying to the insurer is invested into the selected fund options. These fund options are debt and equity additions after the deduction of all the appropriate charges. These charges are divided into categories such as premium allocation, surrender, mortality, fund management, fund switching, and discontinuance charges.

Wrapping It Up!

With the advancement in technology, comparing, and selecting the right insurance product is not very difficult. It would be smart to compare and purchase various ULIP plans online on an insurance comparison platform to check the features, benefits, terms, and conditions to align the same plan with your risk appetite. These insurance cum protection plans should be added to your portfolio that helps in fulfilling your life objectives by receiving a selected return at the time of investment. So, it is a smart decision to invest in ULIP plans.

*All savings are provided by the insurer as per the IRDAI approved insurance plan.
*Tax benefit is subject to changes in tax laws. Standard T&C Apply
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
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^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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