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Things to Know About ULIP Plans

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September 25, 2023

Unit Linked Insurance Plans or ULIPs are plans that offer you the double advantage of providing you and your family with financial protection as well as best meeting your Investment needs. Providing the buyer with insurance, capital gains, and tax benefits, ULIPs are different from equity linked mutual funds as they are free from Long term capital gains tax. Before buying a unit-linked plan, you should assess your life goals. The product that matches your life goals can be selected very easily. Unit-linked plans are provided to fulfil the needs of customers. The minimum lock-in period for ULIPs is 5 years.  There are plans to fulfil the educational expenses of your choice and your retirement needs. You can also buy health insurance plans which are linked with market returns.

ULIPs offer tax benefits as well as the maturity proceeds are tax free and in the event of policy holders death, the death benefit will be provided and these proceeds will also be tax free. If you were looking to plan for certain future life goals, you can choose a plan that helps you fulfil your future needs in a very efficient manner. You may even choose an education plan where wherein the educational expenses of your child are easily met in your absence. Similarly you can choose retirement plans and health insurance plans to fulfil your long term capital goals.

If after some time you are not happy with your investments, you can switch over from one fund to another very easily with the help of ULIP. You can choose either debt-based funds or equity based funds as per your risk appetite and financial capabilities. If your risk perception is quite low, you can choose debt funds. On the other hand, equity funds are suitable for high-risk investors - besides capital appreciation, you also get the benefit of insurance and income tax benefits. The capital appreciation will take place by investing in ULIPs for at least 10 years. Hence, ULIPs are available with a 5-year lock-in period. You will invest short-term funds to achieve capital appreciation and it is also possible to get insurance cover in a very efficient manner. If the unfortunate event takes place, the beneficiary will get the financial benefit. There are plans to offer the death benefit as a lump sum as well as in instalments.

HDFC Life Click2Invest ULIP is an online Unit Linked plan in India that offers you market linked returns, charges minimally, provides your family with valuable financial protection and best meets your financial needs. Offering you 8 funds to choose from as per your investment style, and multiple premium payment options while also offering the flexibility to choose a policy term from 5-20 years and also providing many tax benefits, there is no doubt that the HDFC Life Click2Invest ULIP is one of the best unit linked plans out right now.

For more information please visit: https://www.hdfclife.com/savings-plans/sanchay-plus

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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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