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Switch Investment Mix with ULIPs
Many of us reading this article have invested in ULIPs or planning to invest in it. We are familiar with ULIP as an investment tool that offers insurance also and know that the ULIP full form is Unit Linked Investment Plan. Today let’s understand the switching option offered by ULIP that is not much popular but is nevertheless, an effective feature. Here you will get to know how you can change your investment mix and that too without having to bear any additional costs.
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- Switch Investment Mix with ULIPs
List of ULIP Funds ~
Fund Name
AUM
NAV
Returns (in %)
3 Year
5 Year
10 Year
Equity Fund
SBI Life
AUM:81,025 Cr
81,025 Cr
NAV
191.41
-7.31%
Returns
11.48%
Opportunities Fund
HDFC Life
AUM:35,377 Cr
35,377 Cr
NAV
74.13
-2.89%
Returns
18.09%
Highest Returns
High Growth Fund
Axis Max Life
AUM:12,572 Cr
12,572 Cr
NAV
111.43
-3.95%
Returns
25.06%
Highest Returns
Opportunities Fund
ICICI Prudential Life
AUM:3,551 Cr
3,551 Cr
NAV
58.15
-2.30%
Returns
15.15%
Highest Returns
Multi Cap Fund
Tata AIA Life
AUM:9,938 Cr
9,938 Cr
NAV
62.14
-2.61%
Returns
18.35%
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Disclaimer :
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Being an ULIP investor, you are allowed to change the investment options under your plan. For example, if you find the market favorable, you can change exposure to equities. There is a huge count of people who are unaware of the switch feature available with ULIP. Approximately, only 20% know about this option and less than 5% access it. You might lose some major benefits by not utilizing this feature.
Switching requires a proper analysis of the market and needs the ULIP investor to create a perception of market and decide on his/her risk capacity. The triggering market level can be used to pull your asset allocation with every 10% change. A proactive policyholder is expected to yield good result with clever switching and systematic asset allotment.
Switching feature is free hence you don’t require worrying about the cost, and utilize the option for as many times you wish to, and choosing from the best SIP plans allows investors to match investments with their risk appetite while making such switches. Earlier there was a predefined number set for free switches in a year but not anymore. The process of switching simply requires you to access your policy online on the insurance company’s website and alter the investment mix as desired. In case you are unable to check online, just submit a switch request form to the insurance company.
Switching decisions can be linked to Price to Earnings (PE) ratio of the index by the sophisticated investors. PE is derived on dividing index level by the earning per share (EPS). In April-June 2014-15 the Nifty EPS was Rs 376. The value of EPS depends on the quarterly results declared by companies. On 15 September, Nifty was at 8,040 and PE was 21.38 i.e. little above its average of 18.5.
You are free from any sort of tax implication when switching asset allocation of your ULIP. Being an insurance product, ULIP offers tax-free long and short- term gains. In case of mutual funds, the tax-free label is applicable only on equity-oriented balanced funds and long-term gains from equity funds. In case of equity funds, short-term gains are taxed at 15%.
The change in market needs proper analysis for availing the switching feature. You could have increased your exposure to stocks a year ago when Nifty was at 5,285 and PE was 15.23. Currently, it is better to cut down exposure to stocks as the index has touched 8000.
Latest ULIP NAVs
| Fund Name | NAV  |
AUM |
5 Yr Returns |
10 Yr Returns | |
|---|---|---|---|---|---|
| SBI Life Balanced Fund | ₹71.67 | ₹21160 Cr | 7.81% | 9.83% | |
| SBI Life Bond Fund | ₹50.42 | ₹16781 Cr | 5.36% | 6.63% | |
| SBI Life Equity Fund | ₹191.41 | ₹81025 Cr | 9.97% | 11.83% | |
| SBI Life Equity Optimiser Fund | ₹52.99 | ₹2622 Cr | 10.48% | 11.6% | |
| SBI Life Growth Fund | ₹91.64 | ₹2913 Cr | 9.17% | 11.27% | |
| SBI Life Money Market Fund | ₹36.77 | ₹444 Cr | 5.78% | 5.99% | |
| SBI Life Top 300 Fund | ₹55.34 | ₹1981 Cr | 9.9% | 12.39% | |
| SBI Life Pure Fund | ₹25.66 | ₹1150 Cr | 8.67% | - | |
| SBI Life Bond Optimiser Fund | ₹22.22 | ₹3238 Cr | 7.15% | - | |
| SBI Life Bluechip Fund | ₹9.6 | ₹3173 Cr | - | - | |
| SBI Life Balanced Pension | ₹71.93 | ₹805 Cr | 8.44% | 10.68% | |
| SBI Life Bond Pension | ₹44.87 | ₹530 Cr | 5.24% | 6.91% | |
| SBI Life Equity Pension | ₹72.18 | ₹11842 Cr | 11.03% | 12.69% | |
| SBI Life Growth Pension | ₹71.83 | ₹632 Cr | 9.79% | 11.81% | |
| SBI Life Money Market Pension | ₹33.99 | ₹142 Cr | 5.73% | 5.97% | |
| SBI Life Equity Optimiser Pension | ₹56.67 | ₹976 Cr | 10.45% | 12.42% | |
| SBI Life Top 300 Pension | ₹53.9 | ₹710 Cr | 9.99% | 12.49% | |
| SBI Life Midcap Fund | ₹47.27 | ₹55035 Cr | 17.51% | - | |
| SBI Life Corporate Bond Fund | ₹16.39 | ₹1025 Cr | 5.37% | - | |
| SBI Life Equity Elite II | ₹50.11 | ₹12182 Cr | 9.43% | 11.4% | |
| SBI Life Index | ₹46.25 | ₹102 Cr | 10.3% | 12.1% | |
| SBI Life Index Pension | ₹48.27 | ₹27 Cr | 10.41% | 12.13% | |
| SBI Life Discontinued Policy Fund | ₹25.41 | ₹10703 Cr | 5.64% | 5.98% | |
| SBI Life Equity Elite | ₹85.53 | ₹13 Cr | 12.45% | 14.3% | |
| SBI Life P-E Managed | ₹38.1 | ₹215 Cr | 9.18% | 10.21% | |
| SBI Life Guaranteed Pension GPF070211 | ₹26.53 | ₹2 Cr | 5.15% | 6.47% | |
| SBI Life Bond Pension II | ₹23.38 | ₹29088 Cr | 5.15% | 6.26% | |
| SBI Life Equity Pension II | ₹40.54 | ₹12141 Cr | 10.16% | 12.34% | |
| SBI Life Money Market Pension II | ₹20.76 | ₹1532 Cr | 5.5% | 5.72% | |
| SBI Life Discontinue Pension Fund | ₹21.46 | ₹6775 Cr | 5.65% | - | |
| SBI Life Group Growth Plus Fund | ₹56.2 | ₹3 Cr | 8.06% | - | |
| SBI Life Group Debt Plus Fund | ₹40.08 | ₹113 Cr | 6.23% | - | |
| SBI Life Group Balance Plus Fund | ₹47.79 | ₹11 Cr | 7.13% | - | |
| SBI Life Group Balance Plus Fund II | ₹26.27 | ₹869 Cr | 7.18% | - | |
| SBI Life Group Debt Plus Fund II | ₹26.02 | ₹281 Cr | 6.27% | - | |
| SBI Life Group Growth Plus Fund II | ₹26.36 | ₹237 Cr | 8.4% | - | |
| SBI Life Group Short Term Plus Fund II | ₹21.45 | ₹19 Cr | 5.88% | - | |
| SBI Life Group Money Market Plus Fund | ₹12.5 | ₹2 Cr | 1.01% | - |
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Insurers Offering ULIPs
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or
insurance product offered by an insurer.
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˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance
plan.
^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.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^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.