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HDFC Life CSC Suraksha - Term Insurance Plan
November 12, 2018

As an investor, you may often find yourself wondering about the best kind of an investment option that will suit your needs and will offer the best returns over a period of time. The most suitable investment offers optimum and balanced returns over a period of time that actually suits your requirements. ULIP (Unit Linked Insurance Plan) is one such instrument that offers joint benefits of insurance coverage and investment option for fund-growth. Therefore, a ULIP is a joint platform for insurance and investment that offers insurance benefits and at the same time, acts as a medium of growth for your funds through investment options. ULIPs have a lock in period of five years hence, is an ideal instrument for long term financial planning for specific financial aspirations.

ULIPs come with exclusive tax benefits that enable you to save on taxes while building up a sufficient corpus over the term of the plan. ULIPs have also been kept exempt from LTCG (Long Term Capital Gains) taxation purview and this has further increased the tax-efficient nature of ULIP. Under Sections 80C and 10D of the Income Tax Act, 1961, the contributions made towards ULIPs as well the returns that they accrue are eligible for tax exemption.

The fund options offered by ULIPs may be of the following types like:

  1. Monetary funds invested in banks known as cash funds.
  2. Corporate and government bonds and securities - fixed interest funds.
  3. Equity funds
  4. Combination of fixed interest funds and equity funds.

These diverse fund options mean that the market-leverage of ULIPs is quite higher when compared to what several other investment options have to offer. In these fund options, the risk factor varies from one fund to another and you can make a decision on the basis of your own preferences. ULIPs offer a high level of flexibility through the switch option and you can switch as and when you like. Moreover, ULIPs have an important feature in the shape of top up option, which entitles the policy subscriber to supplement i.e. add to the core value of fund-investment.

The charge structure of ULIPs is a bit more complex than what many other investment options have to offer. These charges include the policy administration charges (for administration of the policy clauses and units contained therein), premium allocation charges (in the form of a set percentage of the payable premiums), fund management charges, mortality charges, surrender value etc. Any investment in a ULIP must be made with due consideration of your individual financial goals and requirements. Before taking any decision, you must check and compare various plan features being offered by various insurers so that you can have a clear idea of what different insurers have to offer. This can be easily done by checking on the online official portals of these insurers. This will also enable you to make a clear choice based on information regarding the same.

HDFC Life offers HDFC Click 2 Invest ULIP- an online plan that offers market linked returns and is aimed at helping you create a beneficial and diverse investment channel for the growth of your funds. For details, click on the mentioned link: https://www.hdfclife.com/savings-plans /click-2-invest-ulip-plan

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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