Unit Linked Insurance Plans: Which is the Best ULIP Plan in India?

76 points
Best ULIP Plan
Image by Steve Buissinne from Pixabay

Are you familiar with the acronym ULIP? It basically stands for Unit Linked Insurance Plans. These investment instruments are unique as they offer life cover while also providing you with the opportunity to invest your money in debt, equity or hybrid funds based on your personal risk appetite. This unique offering that clubs investment and insurance under a single plan is one of the chief reasons why these plans are often viewed as incredibly convenient. They have evolved over a short period of time, with the revised versions being extremely customer friendly. Also, the shortcomings of the earlier ULIPs have been corrected and the various plans available in the market today have been improved over time, making them one of the most talked-about investments currently.

As a customer, you are absolutely spoiled for choice when it comes to selecting the right investment avenue for your financial needs. This can often lead to confusion and you will soon discover that selecting the right plan is quite an arduous task. Also, it’s imperative that you choose the right ULIP to avail a plethora of benefits. The good news is that since the market is extremely competitive, you are bound to be benefitted as a customer. ULIPs can help you attain your financial goals through market-linked returns, low charges and most importantly, disciplined investing. Now, let’s discuss the best ULIP in the market.

GOAL ASSURE by Bajaj Allianz Life Insurance

When an individual opts to invest in a ULIP, their main objective is typically to invest their money and grow their savings. Despite this, many have to pay mortality charges which is quite disheartening. However, by opting for Bajaj Allianz Goal Assure, the mortality charges that you have paid will be returned upon maturity. Also, investors are not charged any premium allocation fees. This is a perfect long-term policy that handsomely rewards investors for staying the course.

Customers will benefit from loyalty additions (0.5-1-1.5% of annual premiums for a period of 10-20 years) and fund boosters (20-60% of annual premiums for a 10-20 year tenure) provided under this plan. These bonuses are designed to enhance the total corpus. Once you opt for this policy, make sure that you stay put for at least 10 years to reap the many ULIP returns. This plan also offers fairly high life cover, while ensuring that the administration charges and fund management charges are kept to an absolute minimum.

Given the benefits that GOAL ASSURE offers, we’re sure you can understand why this ULIP could be the best option for you. But, before you sign on the dotted line and hand over your money, make sure you do a little bit of research. Compare the charges and benefits of different plans before picking one that suits your financial needs.


Like it? Share with your friends!

76 points
Nirmalya Ghosh
Nirmalya has done his post graduate in business administration and now working as digital marketing executive in a US based firm. He loves to share the trending news and incidents with his readers. Follow him in Facebook or Twitter.