Unit-linked Insurance Plans (ULIPs) offer an efficient blend of life insurance coverage and market-linked fund opportunities, allowing you to balance protection with growth. By allocating premiums into multiple fund options, a ULIP can help diversify your strategy and potentially build a robust reserve for future needs. The IndiaFirst Life Money Balance Plan, a unit-linked, non-participating, individual savings, life insurance policy, takes this concept further, combining the advantages of investment diversification with long-term life cover. With a plan like this, you can protect your family while positioning your savings to work toward your milestones over time.
What is ULIP?
A Unit-linked Insurance Plan (ULIP) is a life insurance solution that blends protection with a market-linked savings component. The plan offers dual benefits – life insurance and investment – offering a payout to your beneficiaries in case of an unfortunate event and maturity benefits for you after the plan duration is complete. The remaining amount is channelled into funds like equity, debt, or hybrid options, depending on your risk appetite and future goals. Over time, ULIPs may offer potential for long-term growth, thanks to structured market participation and the flexibility to switch between different fund types.
This dual benefit approach enables you to enjoy security through life insurance coverage while simultaneously aiming to build wealth. ULIPs may also be eligible for tax exemptions under prevailing tax laws, making them useful for efficient financial planning. Furthermore, tools like a ULIP calculator can help you create a balanced approach to coverage and fund allocation, allowing you to customise the plan to your individual needs.**
Key Features of the Indiafirst Life Money Balance Plan
Flexible Premium Payment
With the IndiaFirst Life Money Balance Plan, you can choose a payment mode that suits your financial circumstances. This flexibility helps you stay consistent with your contributions and supports a disciplined approach to future goals.
Life Cover
Along with market-linked advantages, this ULIP provides protection for your loved ones. In case of an untimely demise during the policy term, your family will receive a payout, offering security when it matters most.
ULIP Tax Benefits
When you invest in the IndiaFirst Life Money Balance Plan, you may enjoy tax advantages, both on premiums and potential payouts. This can enhance overall savings, making it a practical choice for long-term financial planning.**
Automatic Trigger-based Investment Strategy
One of the distinct aspects of the IndiaFirst Life Money Balance Plan is the Automatic Trigger-Based Investment Strategy (ATBIS). If you invest in the Equity1 fund and your returns exceed 10%, the surplus automatically shifts to the Debt1 fund. This strategic reallocation locks in gains while reducing exposure to market volatility, potentially building a more balanced portfolio.
By focusing on both growth and preservation, the plan aims to maintain steady progress toward your mid- and long-term financial goals. With ATBIS, you can capture market opportunities without sacrificing stability.
What is the Best Time to Invest in IndiaFirst Life Money Balance Plan?
It’s never too late to invest in IndiaFirst Life Money Balance Plan because ULIPs can be tailored to various life stages, whether you’re just embarking on your career or nearing retirement. This plan adapts to your changing needs and risk preferences, offering equity, debt, or balanced fund options.
Let’s look at an example. Vikas, at age 30, chose a 20-year policy, paying an annual premium of ₹50,000 for five years. This approach allowed him to steadily work towards future goals. In the event of his untimely passing, his family would receive financial support through the life cover, helping maintain their day-to-day lives. If Vikas completed the term, he could benefit from accumulated returns, securing his family’s future. This flexibility, combining protection with potential growth, makes it a fitting choice no matter when you decide to invest in the IndiaFirst Life Money Balance Plan.
How to Choose the Right ULIP for you?
Selecting the right ULIP can significantly impact your financial future and provide essential protection for your loved ones. Begin by defining your long-term objectives. If your goal is quick growth, you may opt for an equity-focused plan. If stability is a priority, a plan focusing on debt funds could be more fitting. Align these choices with your overall life goals to create a balanced strategy.
Next, clarify your insurance objectives. Ensure the life cover portion of the ULIP sufficiently protects your family. Examine how much coverage will be enough to maintain their quality of life in case of an untimely demise. This clarity helps you shortlist plans tailored to your needs.
It’s also crucial to understand the features and benefits each ULIP offers. Look for flexibility to manage your portfolio with fund-switching, top-ups, and withdrawal facilities. A strong claim settlement ratio is another key factor. Insurers with a higher percentage of settled claims are typically more reliable when your family needs support.
It is never too late to invest in the IndiaFirst Life Money Balance plan. Whether you’re looking to grow financially or protect your loved ones, the IndiaFirst Life Money Balance plan can help you strike the perfect balance between security and growth. By deciding to invest in the IndiaFirst Life Money Balance plan, you tap into market-linked returns combined with valuable coverage. It also offers flexible premium options and a strategic approach, helping you adapt to different life stages.
** Tax exemptions are as per applicable tax laws from time to time.
Disclaimer:
IndiaFirst Life Insurance Company Limited, IRDAI Regn No.143, CIN: U66010MH2008PLC183679, Address: 12th & 13th floor, North, Tower, Building 4, Nesco IT Park, Nesco Centrer, Western Express Highway, Goregaon (East), Mumbai – 400 063.
Toll free No – 1800 209 8700.
Email id: customer.first@indiafirstlife.com, Website: www.indiafirstlife.com.
Fax No.: +912268570600.
Our Shareholding pattern of the company now stands at Bank of Baroda – 65%, Union Bank of India – 9% and Carmel Point Investments India Private Limited – 26%. IndiaFirst Life Insurance Company Limited is only the name of the Life Insurance Company and Linked Insurance Products are different from the traditional insurance products and are subject to risk factors. The Premium paid in unit-linked life insurance policies are subject to investment risks associated with capital markets and NAVs of the units may go up or down, based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions.
IndiaFirst Life Insurance Company Limited is only name of the Insurance Company and IndiaFirst Life Money Balance Plan (UIN 143L017V07) is only the name of the Life Insurance Product and does not in any way indicate the quality of the contract, its prospects, or returns. For more details on risk factors and terms and conditions, please read the sales brochure carefully before concluding the sale. Trade logo displayed above belongs to our promoter M/s Bank of Baroda and is used by IndiaFirst Life Insurance Co. Ltd under License.
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