ULIP Calculator

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What is ULIP Calculator

A ULIP calculator is a specifically developed tool which helps the insurance buyers to calculate the premium amount and check the ULIP returns. There are numerous financial websites that provide the facility of ULIP calculator. On basis of the premium amount and tenure of the policy, the ULIP calculator calculates the returns offered by a specific ULIP plan. Moreover, some of the ULIP calculators also provide the option to compare different ULIP plans on basis of the returns and zero in on the best plan. With the help of ULIP calculator, an individual can opt for the ULIP plan that offers maximum returns on investment.

 
 

Why Use ULIP Calculator?

As ULIP plans offered the dual benefit of insurance cum investment, it is considered as one of the best financial instruments. ULIPs are best suited for individuals who want are looking for safe investment option and want to create maximum return on investment. However, with the wide range of ULIP plans available in the market, it often becomes difficult for investors to choose the plan that best suits their requirement or suitability. This is where the ULIP calculator comes into action. The online ULIP calculator enables the investors to compute the amount they require to invest in ULIP plan in order to achieve their long-term and short-term financial goals.

How to use ULIP Calculator?

While using the ULIP calculator it is important for insurance buyers to keep important details handy like frequency of premium payment, the type of funds, the amount of money one wants to invest, the expected rate of returns on investment. By entering these details on online ULIP calculator one can calculate the precise value of the rate of return on investment. Let’s take a look at the step by step process of using the ULIP calculator in order to calculate investment returns.

ULIP Calculator Step by Step Process

Step 1- Primarily, the investors are required to log in to the online free ULIP calculator.

Step2- Once the individual login to the free ULIP calculator online, the investor will be required to enter the amount they want to invest in the ULIP plan. According to one’s own suitability the investors can choose to invest a minimum premium of Rs1500 per month.

Step3- the next step includes to select the frequency of premium payment. According to one’s own suitability, an individual can pay the premium either in lump-sum or in annually, quarterly or monthly installments.

Step4- The next step includes to choose the tenure of the policy.

Step5- In the next step, the insured will have to enter the amount from their premium payment which they want to allocate for investment.

Step6- The insured will have to select the lock-in period of investment. ULIP plans offer a minimum lock-in period of 5 years. However, according to the market experts it is suggested to be invested for a long period of time in order to gain the maximum return on investment.

Step7- The next step includes the selection of funds in which the investor wants to put their money. The investors can choose to invest in equity instruments, debt fund or a combination of both the investment instrument.  However, before making the investment it is very important to check how the fund has performed in pats in the market.  In order to gain profitable returns on investment, it is always advisable to invest in funds which have performed well in the market in the past 3 years.

After the policy buyers complete filling all the important information he/she will have to enter the personal details like gender, date of birth and whether they smoke or not in order to avail the exact value of investment they will accumulate while investing in ULIP plan.

 The usage of online ULIP calculator is very easy and hassle-free. Moreover, one does not have to spend extra money from their pocket in order to get the information regarding their investment. In order to understand the amount of money one needs to invest to meet their future financial goals, the investors can also change the variables while using the ULIP calculator. However, for investors, it is important to keep in mind that while computing the returns on investment, ULIP calculators also take into consideration the estimated inflation rate.

Features of ULIP Calculator

ULIP calculator comes with a host of features to help the investors to create a corpus, enjoy tax benefit and secure their loved ones financially so that they can deal with any type of eventualities. Let’s take a look at some of the salient features of the ULIP calculator.

  • Transparency- Transparency is the key feature of ULIP calculator. Unlike most of the investment product, the ULIP calculator offers transparent and comprehensive details of funds, so that the investors can calculate the exact value of returns they can get on their investment.
  • Flexibility- The ULIP calculators are flexible in nature as the investor can change the variable according to the amount they want to invest in and according to the tenure of the policy.
  • Control- Unlike other investment instruments, ULIP calculator provides full control to the policyholder. The investors can easily calculate the premium and check the return on investment with the help of ULIP calculator. Moreover, ULIP also provides an option for the investors to change between funds and it does not charge an extra charge.
  • Safe Investment- It helps the investors to make a safe investment by analyzing the fund's options and then zeroing on a particular fund.
  • Goal-Based Planning- ULIP calculator helps the investors to make goal-based planning by analyzing which fund option will be best for investment and on basis of what aspects one can gain the maximum returns on

Benefits of ULIP Calculator

Online ULIP calculators offer numerous benefits to its investors; let’s take a look at some of the benefits of using a ULIP calculator.

  • Using the ULIP calculator is very simple and hassle-free. Moreover, it is absolutely free of cost.
  • ULIP calculator simplifies the complicated financial calculations and helps the investors to get the expected result and make the right investment decision according to budget, age, future financial objective, and
  • The online ULIP calculator helps the investors to make the safe investment over a long-term period and with a user-friendly interface, one just needs to enter the required details in order to get the result.
  • It helps the investors to know in which fund option they should invest in and also help them to make goal-based

Top ULIP Plans

PLAN NAME

ENTRY AGE

MINIMUM PREMIUM

HDFC Life Click2Invest

0 to 65 years

Rs. 1000 to 24000

Bajaj Allianz Future Gain

1yr to 60 years

Rs. 2500 to 25000

ICICI Prudential Life time Classic

0 to 65 years

Rs. 30000 to 50000

PNB Metlife Smart Platinum

7yrs to 70 years

Rs. 30000 to 60000

Max Life Fast Track Growth Fund

18yrs to 50 years

Rs. 25000 to 100000

Aegon iMaximize

18yrs to 50 years

Rs. 24000 to 36000

Bharti Axa eFutureInvest

18yrs to 60 years

Rs. 18000 to 25000

Aviva igrowth

18yrs to 50 years

Rs. 18000 to 35000

SBI Life eWealth

18yrs to 50 years

Rs. 1000 to 24000

Tata AIG Life Invest Assure II – Balanced Fund

4yrs to 55 years

Rs. 75000 to 120000