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  • Top Unit Linked Insurance Plans for 2017

    ULIP is an insurance product which provides risk cover and market investments at the same time. It allows you to invest in stocks, bonds, and mutual funds. Those who wish to invest in ULIPs should consider their financial objectives, risk appetite, and market conditions before choosing from a wide range of options available. The investment fraction and the insurance fraction of the plan are controlled according to the customer’s choice and preferences. Here are some of the best ULIP plans you can choose to invest in.

    Future Generali Wealth Protect Plan:

    It’s an insurance cum investment plan which offers a coverage up to 30 times your annual premium. It helps you achieve your long term financial goals while protecting your beloved ones at the same time. The plan also offers guaranteed loyalty additions on maturity. You can invest in a systematic pattern at monthly, quarterly, or half-yearly frequencies in debt, equity and balanced assets. You can also switch from one fund to another depending on the market conditions. The plan allows partial withdrawals after 5 years. Given below are the key highlights of Future Generali Wealth Protect plan:

    • You can choose the amount
    • You can choose the duration
    • Select the required life cover
    • Choose the fund options, and
    • Pay premium at the chosen interval

    HDFC SL ProGrowth Super II:

    HDFC SL ProGrowth Super II is a savings plus insurance plan that will safeguard your family from unforeseen circumstances and will also help you with your financial objectives. The plan offers you the flexibility to choose from the following options:

    • Life option provides death benefits
    • Extra life option that offers death benefits along with accidental death benefit
    • Life and health option with death benefit and critical illness benefit
    • Extra life and health plan that comes with death benefit, critical illness benefit, and accidental death benefit
    • Life and disability option offering death benefit and accidental total and permanent disability benefit
    • Extra life and disability option that combines death benefits, accidental death benefits, and accidental total and permanent disability benefit
    • Life, health, and disability option that offers death benefit, critical illness, and accidental total and permanent disability benefit
    • Extra life, health, and disability option that covers all the above mentioned benefits under a single plan

    Bajaj Allianz Retire Rich:

    Retire Rich, as the name suggests, is a unit linked retirement cum insurance plan which offers a multitude of features and benefits to the policyholders. At the time of commencement of the plan, you have to choose the premium payment options—regular, limited, or single premium. The premiums paid by you, will be allocated towards the pension builder fund after deduction of premium allocation charges. The units will be set aside towards your policy account at the prevailing unit price of the fund. On completion of the policy term, guaranteed vesting benefits equal to 101% of regular premiums and top-up premiums shall be payable. The investment strategy of the policy is to invest in mix of assets, which is as follows:

    Equities 0% to 50%
    Debt, fixed deposits, and related instruments 25% to 100%
    Mutual funds and money market instruments 0% to 40%

    Kotak Ace Investment Plan:

    In Kotak Ace Investment, the investment risk is to be borne by the policyholder and it does not offer liquidity for the first 5 years of the plan. It’s an investment oriented life protection plan which comes with convenient payment options. Kotak Ace Investment allows you to choose from three investment strategies:

    • Self-Managed Strategy, which allows you to manage your investments on your own
    • Age Based Strategy, which is suitable for those who do not have the financial expertise or time for managing their investments
    • Systematic Switching Strategy is an ideal solution for those who wish to receive the benefits of equity investments in a systematic way

    Canara HSBC Platinum Plus Plan:

    It’s a unit linked investment cum life protection plan which can be customized as per the requirements of the buyers. It offers high flexibility and allows you to have complete control over your market investments. Given below are some of the key highlights of the plan:

    • You can choose between limited or regular premiums
    • Provides multiple options for investment management
    • Loyalty additions and wealth boosters to increase your investment value
    • Flexibility of switching between funds to take advantage of the market fluctuations
    • Allows partial withdrawals

    HDFC Life ProGrowth Plus:

    HDFC Life ProGrowth Plus is a unit linked insurance plan with regular premiums. The plan allows you to choose your regular premium payment mode and the investment fund. The premiums will be invested in the investment fund of your choice and in the proportion you specify. The plan does not offer liquidity during first 5 years of the policy term. The policy offers death benefits and accidental death benefits. Death benefits paid under the policy shall be higher of the following:

    • Sum assured
    • Unit Fund Value
    • Minimum death benefit
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