Unit linked insurance plans are dual benefit insurance plans. They not only provide the quintessential life insurance coverage, but also market linked returns on your invested premiums. ULIPs are, therefore, investment avenues which provide inflation adjusted returns and grows your money with the growing economy.
Nowadays, the unit linked plans which are available offer more in terms of features. They not only give you market linked returns but also loyalty additions and other benefits. That is why buying a ULIP makes for a good investment. Here are the best five ULIPs which you can consider for investments in 2018 –
- Edelweiss Tokio Wealth Ultima
Wealth Ultima offered by Edelweiss Tokio offers many benefits which make it one of the best unit linked plans available in the market today. Some of the main benefits include the following –- You have the choice of managing your investments yourself or let the insurance company manage them based on its pre-defined investment strategies
- Systematic Monthly Plan requires monthly premiums which are affordable and also give you the benefit of rupee-cost averaging
- Under Systematic Transfer Plan (STP) investment strategy, the gains are protected from volatile market movements
- There is a Systematic Withdrawal Plan under which you can withdraw your fund value systematically. This helps you in generating a source of regular income
- Guaranteed additions, loyalty additions and wealth boosters are added to the fund value besides the market-linked returns
- The plan can be taken to run lifelong till you attain 100 years of age
- HDFC Life Click 2 Invest
HDFC Life is a reputed and leading insurance company. Its Click 2 Invest plan is a good plan because of the following reasons –- In case of death, the sum assured or the fund value, whichever is highest is paid
- Premiums can be paid regularly, for a limited time or in one lump sum
- There are 8 investment funds for asset allocation
- No premium allocation or administration charges are levied under the plan
- ICICI Prudential Smart Life Plan
This is a child oriented ULIP plan which has an inbuilt premium waiver rider. The plan thus helps you in fulfilling your child planning need. The benefits of the plan include the following –- Even if the insured dies, the plan continues after the payment of the death benefit. The company pays the premium till maturity whereupon the fund value is paid
- There are two portfolio strategies of Fixed portfolio strategy and lifecycle based portfolio strategy
- Loyalty additions and wealth boosters are added under the plan
- Bajaj Allianz Life Future Gain Plan
When it comes to insurance, one cannot forget Bajaj Allianz which is one of the leading insurance companies in the insurance market. Future Gain plan offered by the company scores on various fronts which include the following –- Five optional riders are available for making the coverage under the plan more comprehensive
- Top-up premiums are allowed if you want to increase your investment under the plan
- You can choose to invest your premium yourself or invest according to the pre-defined investment strategy available under the plan
- You can also change the investment strategies during the term of the plan
- Bajaj Allianz Life Future Wealth Gain Plan
This plan is a step up from the Future Gain Plan. The plan provides enhanced death benefit and is thus a good plan. Here are its salient features –- Two variants of the plan are available – Wealth Plus and Wealth Plus Care
- Inbuilt cancer cover is available under Wealth Plus Care
- In case of diagnosis of cancer during the plan tenure, regular income is paid under the plan. Each income is equal to the annual premium paid under the policy
- Optional riders are available under both the plan variants
- Loyalty additions and fund boosters help in enhancing the fund value
- You can choose to invest your premium yourself or choose the readymade investment strategy offered by the insurance company
All these plans promise something extra. They give insurance cover, provide market-linked returns and also provide unique benefits of guaranteed additions, enhanced scope of coverage and readymade investment strategies. So, take your pick of ULIP from this list and enjoy the benefits the plans provide.
Read more about Life insurance policy in India – How does it work?
Read more about Common terms in life insurance policy
Read more about Types of life insurance
