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A ULIP (Unit Linked Insurance Plan) is a perfect Wealth Solution with multiple Fund options, total investment flexibility and in-built insurance cover. It offers you the opportunity of investing your premium amount into multiple funds of your choice, while a tiny part of the premium is used for providing life cover. A ULIP helps achieve life goals and enhances wealth creation through its high market-linked returns and the insurance cover provides financial security to your loved ones.
Here’s why you should invest in a ULIP over other financial instruments –
Perfect blend of No Taxes, Lower Charges & Better Returns! You get low cost financial security for your family and can invest in equity funds without LTCG Tax with a ULIP.
| POINT OF COMPARISON | ULIP | MUTUAL FUND | PPF |
|---|---|---|---|
| Type of product (Scope) | Insurance (Life Cover) + Investment | Only Investment (No Life Cover) | Only Investment (No Life Cover) |
| Financial Security for loved ones | YES, death benefit = higher of SA or Fund Value | No such benefit available | No such benefit available |
| Risk/Return | High, Medium, Low risk and gain, depending on fund | High, Medium, Low risk and gain, depending on fund | Low Risk, Low Gain only |
| Fund Management Charges | 1.35% p.a. | 2.5% p.a. for Equity Fund
2.25% p.a. for Debt Fund |
N.A |
| Riders to enhance protection and value of investment | Complete protection with riders | Not Available | Not Available |
| Liquidity/Lock-in-Period | 5 years for exit/partial withdrawal | Only for ELSS Funds-3 years | Partial withdrawal – 7 years
Full withdrawal - 15 years |
| Flexible Fund Switching Options | Flexibility in switching funds | No switching option | No switching option |
| Tax-savings and benefits | Rs.1.5 lakh u/s 80 C Maturity/death benefit tax-free u/s10 (10D) | Only available in ELSS - Rs.1.5 lakh u/s 80 C | Rs.1.5 lakh u/s 80 C
Maturity/Interest tax-free u/s10 (10D) |
At Coverfox, you can compare term life insurance plans from insurers with best-in-class claim settlement ratio of above 90%. This ensures security to your family when they would it need the most.
Our experts provide you informed advice that clears the confusion and answers all your queries, in one single call. No unnecessary calls, no drop-offs. We value your time and your money.
We give you assurance of finding the best possible cover at the right price. In fact, you can get a term cover of as much as 20 times of your annual income at premium as low as 2% of your annual income.