ICICI ULIP CALCULATOR

ULIP is an abbreviation for Unit Linked Insurance Plan. It is an insurance product that provides both life insurance and investing facilities under one roof. A ULIP plan uses a part of your premium for premium amount to invest in market-linked schemes like equity and debt.

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To further understand and evaluate an investment in ULIP, you can use the ICICI ULIP Calculator.

Why Should You Use ICICI ULIP Calculator?

New investors and existing policyholders can use ULIP calculators to plan their investments. The following points explain why an investor should use the ICICI ULIP calculator before planning an investment:

  • Easy to access – The ULIP ICICI calculator is readily available on their official website. Anyone can easily access it online from the comfort of their homes or anywhere else.

  • Fast and Easy calculation – Using this calculator is easy. You can enter the required information in the calculator and press submit/calculate/enter to know the results. You can also try different combinations of values to choose the best-fitted option.

  • Free to use – This online calculator is free to use and can be accessed more than once.

  • Guiding your investments – ULIP calculator helps you determine the best returns and ULIP plans according to your financial goals and investing strategy.

How to Use the ICICI ULIP Calculator?

You can follow the steps mentioned below to the ICICI ULIP calculator:

  • Step 1 – Visit the website. Click on plans and proceed to the ULIP section. Go to check returns and then click oncalculate returns. 

  • Step 2 – Enter the amount you want to invest. Then choose between monthly, half-yearly, or yearly for premium payment.

  • Step 3 – Choose a policy term between 10 – 30 years or whole life (till 99 years of age).

  • Step 4 – Choose the payment option - limited pay and regular pay.

  • Step 5 – Choose your investment strategy between aggressive, balanced, or conservative. 

  • Step 6 – Choose the life cover. The remaining amount will automatically go to the investment part.

Once you have completed all the above steps, the calculator will show the result, which is the maturity amount.

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ICICI ULIP Calculator Example

  • Step 1 – Investment amount: ₹ 10,000
    Now enter the amount (₹10,000) into the calculator.

  • Step 2 – Investment Intervals
    Select between monthly, yearly, or bi-annually. Let us choose monthly investments.

  • Step 3 – Policy term
    Select 20 years, which means your investment maturity in ULIP is for 20 years.

  • Step 4 – Payment option
    Select the Regular payment option, which means you will pay regularly ₹10,000 every month for 20 years.

  • Step 5 – Investment strategy
    Select Aggressive, which means your investments will be allocated to 100% in equity.

  • Step 6 – Now, click on view fund details.

  • Step 7 – Click on edit fund allocation.

  • Step 8 – Enter 100 % on Maximizer Fund-V.

  • Step 9 - Click Save.

  • Step 10 – Regular Withdrawal is also called the Systematic Withdrawal Plan. You can also choose to opt out for now if there is any lock-in period.

  • Step 11 – Click on back.

  • Step 12 - Enter your desired amount for life cover like ₹12 lakhs or any other amount.

  • Step 13 – The calculator will show the following results:

  • Maturity amount - 44.61 Lakhs

  • Life cover - 12 Lakhs

So, you will get 44.61 lakh at the end of 20 years by just investing ₹10,000 monthly for 20 years.

Top ULIP Funds
Fund Name
AUM
Returns (in %)
3 Year
5 Year
10 Year
11,839 Cr
Returns
21.83%
Returns
23.81%
Highest Returns
Returns
19.95%
Get Details
1,772 Cr
Returns
23.15%
Returns
27.3%
Highest Returns
Returns
19.47%
Get Details
6,136 Cr
Returns
26.84%
Returns
27.87%
Highest Returns
Returns
18.81%
Get Details
2,984 Cr
Returns
21.78%
Returns
23.76%
Highest Returns
Returns
17.76%
Get Details
4,172 Cr
Returns
21.74%
Highest Returns
Returns
20%
Returns
17.43%
Get Details
Fund Name
AUM
Returns (in %)
3 Year
5 Year
10 Year
247 Cr
Returns
11.88%
Returns
13.92%
Highest Returns
Returns
11.99%
Get Details
352 Cr
Returns
12.26%
Returns
12.56%
Highest Returns
Returns
11.38%
Get Details
526 Cr
Returns
9.79%
Returns
10.72%
Highest Returns
Returns
10.34%
Get Details
837 Cr
Returns
11.67%
Returns
11.81%
Highest Returns
Returns
10.23%
Get Details
22 Cr
Returns
12.6%
Highest Returns
Returns
11.89%
Returns
10.17%
Get Details
Fund Name
AUM
Returns (in %)
3 Year
5 Year
10 Year
494 Cr
Returns
16.43%
Returns
17.28%
Highest Returns
Returns
15.3%
Get Details
242 Cr
Returns
6.94%
Returns
7.91%
Returns
8.81%
Highest Returns
Get Details
786 Cr
Returns
5.4%
Returns
6.88%
Returns
8.1%
Highest Returns
Get Details
302 Cr
Returns
5.86%
Returns
6.8%
Returns
7.79%
Highest Returns
Get Details
465 Cr
Returns
5.1%
Returns
6.93%
Returns
7.78%
Highest Returns
Get Details

Advantages of ICICI ULIP Calculator

The advantages of the ICICI ULIP calculator are:

  • Plan your future finances – The ICICI ULIP calculator helps you understand your financial needs and plan your investments accordingly. You can calculate the amount you want to invest in various instruments to calculate the amount you need to ensure your life.

  • Availability of Various Options – Several options are provided in the calculator like monthly or yearly investments, maturity term, and investment strategies. Such options help customers buy a policy matching their specific requirements.

  • Transparency – The ULIP calculator gives a fair idea of the different components of your policy. Such information is necessary to know the policy in-depth beforehand, thereby increasing transparency.

  • Understanding financial requirements – The ULIP calculator can help you to understand your financial needs. Once you know the policy maturity, coverage, investment, and other components, you can further plan your financial future.

Information Required

The following information will be required for using the ICICI ULIP Plan Calculator:

  • Investment amount

  • Period payments: monthly, half-yearly or yearly

  • Policy term: 10-30 years for term and up to 99 years for Whole Life

  • Payment options: Limited or Regular

  • Preferred investment strategy: Aggressive or balanced or conservative

  • Life coverage

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Benefits of Buying an ICICI ULIP Plan

The benefits of ULIP plans offered by ICICI are:

  1. Exposure to Equity and Debt

    It has become quite challenging to beat inflation with decreasing interest rates. However, ULIP plans provide investment allocations in debt or equity, using effective investment strategies that help you get higher returns.

  2. Fund managers

    The ULIP plans allow fund managers to manage and invest your money in market-linked schemes (Equity and Debt). It is beneficial because fund managers are finance experts, and they have a better understanding of the financial market. As a result, they will devise strategies that will help multiply your investment, ensuring better returns.

  3. Multiple Funds

    ICICI provides nine equity funds, two balanced funds, and three debt funds for you to choose for your portfolio.

  4. Systematic Withdrawal Plan

    You can withdraw money on a regular basis for your life goals or emergency or for other expenses you might need. You can make this decision at any point in time and can also change your decision to withdraw. You can withdraw between 1-15%. Also, you can choose either a yearly payout or a monthly payout.

  5. A habit of investing

    Investing in a ULIP helps you to develop the habit of regular and systematic investing. In this era, investing is one of the most important decisions of one’s life. It helps you to retire better and live a good lifestyle.

  6. Protection of your family

    Even though ULIP is excellent for wealth creation, it also provides life insurance. In case of your untimely death, the money will be transferred to your family so that they don’t have to face any financial problems.

  7. Tax Benefits 

    Investment in ULIPs is eligible for income tax deduction from taxable income under Section 80C up to INR 1.5 lakh pa. The maturity proceeds of the ULIP will also be exempt from tax under Section 10(10D). Also, if the ULIP investor dies, the amount received will be exempt from tax u/s 10(10D) of The Income Tax Act 1961.

In Conclusion

In conclusion, the ULIP ICICI Calculator is a helpful tool to calculate and plan your financial goals. Any investor with or without prior financial knowledge can use this tool to plan their finances better. If there are any discrepancies, the investors can directly contact ICICI’s customer service for resolution.

FAQ's

  • What is the policy term of a ULIP?

    The policy term is the lifetime of a ULIP plan.
  • What are aggressive, balanced, and conservative investment strategies?

    The aggressive strategy invests in 100% equity, while a conservative strategy invests in 100% debt. A balanced strategy has equal parts of equity and debt.
  • Are returns guaranteed?

    No. Returns are not guaranteed. Returns depend on the market and market movements.
  • What is the lock-in period of a ULIP?

    The Lock-in period of a ULIP refers to a period when your investment in ULIP cannot be sold or redeemed.
  • What is the minimum lock-in period?

    The minimum lock-in period for ULIPs is 5 years.

*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.
+Returns Since Inception of LIC Growth Fund
~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.

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