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ULIP – Unit-Linked Insurance Plan

A ULIP (Unit-Linked Insurance Plan) is a life insurance product that combines financial protection with market-linked investment while offering tax benefits under Sections 80C and 10(10D) of the Income Tax Act. It allows policyholders to build long-term wealth through professionally managed funds while securing their family with life insurance coverage.

IndiaFirst Life ULIP plans are designed for investors who want growth potential along with protection in a single investment plan. By allocating a portion of the premium towards life insurance, and the rest towards market-linked funds, ULIP plans help policyholders participate in equity or debt markets while maintaining financial security for their loved ones.

With flexible fund options, transparent charges, and the ability to switch funds on the basis of market conditions, Unit Linked Insurance Plans offer a disciplined way to create wealth while enjoying tax efficiency.

Market-Linked Returns
Flexible Fund Options
Wealth Accumulation
Partial Withdrawals
Tax Savings
Fund Switching

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What are Unit-Linked Insurance Plans?

A Unit Linked Insurance Plan is a life insurance product that combines investment with protection by allocating part of the premium toward market-linked funds and the remaining portion toward life cover. Unit Linked Insurance Plans are designed to help policyholders grow wealth over time while maintaining financial security for their families.

What a ULIP is, in a more practical sense, is an insurance-based investment structure where the premiums are invested in equity, debt, or balanced funds, after deducting applicable charges. The plans come with a mandatory 5-year lock-in period, encouraging disciplined long-term investing while offering the potential for market-linked returns.

A combination of life insurance coverage, investment growth, and tax efficiency, makes these insurance plans a popular long-term investment for policyholders seeking both protection and wealth creation.

What are the Benefits of ULIP Plans?

Understanding the benefits of ULIPs helps investors evaluate why ULIP plans are often considered long-term financial tools that combine protection, investment growth, and tax efficiency.

Flexibility of Investment

Policyholders can allocate premiums across equity, debt, or balanced ULIP funds and switch funds on the basis of market conditions or financial goals. The flexibility to switch is usually offered a limited number of times for free each year, helping investors adjust strategies without major cost implications.

Tax Benefits

One of the most notable advantages of ULIP plans is their tax efficiency. Premiums paid toward a ULIP insurance plan qualify for deductions of up to ₹1.5 lakh under Section 80C. Maturity proceeds are typically tax-free under Section 10(10D) if certain conditions are met.

The provisions make ULIP plans a tax-efficient investment plan for long-term financial planning.

Regular Savings

ULIPs encourage consistent saving because premiums must be paid regularly throughout the policy term. The structured premium payment mechanism helps investors build a long-term corpus while maintaining life insurance protection. The 5-year lock-in period further promotes disciplined investing and prevents premature withdrawals.

Market-linked Growth Potential

Over long investment horizons, market-linked ULIP funds can benefit from compounding, potentially increasing the overall fund value significantly. The potential makes ULIP plans particularly useful for goals such as retirement planning or children’s education.

Financial Protection for the Family

In the event of the policyholder’s death during the policy term, the nominee receives the death benefit as per policy conditions. The combination of life insurance protection and investment growth distinguishes the best ULIP plans from many standalone investment options.

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Explore IndiaFirst Life ULIP Plans

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IndiaFirst Life Radiance Smart Invest Plan

Product Name: IndiaFirst Life Radiance Smart Invest Plan
Product Description: IndiaFirst Life Radiance Smart Invest Plan: Have you heard of a plan that not only gives you a life cover but also helps in wealth creation? Enjoy 2 benefits in 1 plan with this online ULIP plan.
Product Benefits: Zero Fund allocation charges
Get a life cover
Unlimited Fund Switches
10 Funds to choose from
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Investment

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IndiaFirst Life Wealth Maximiser Plan

Product Name: IndiaFirst Life Wealth Maximiser Plan
Product Description: Maximise your wealth with ease. A premium ULIP plan offering market-linked returns and life cover in one package.
Product Benefits: High-value ULIP coverage
Premium Top up facility
Multiple fund choices for investment
Loyalty additions for long-term investment
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn more
Dropdown Field: Investment

Products

IndiaFirst Money Balance Plan

Product Name: IndiaFirst Money Balance Plan
Product Description: A unique unit-linked insurance plan that offers balanced growth and a secure future.
Product Benefits: Automatic Trigger Based Investment Strategy
Life cover with investment growth
Systematic switching between equity & debt
Tax Benefits
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Investment

Products

IndiaFirst Smart Save Plan

Product Name: IndiaFirst Smart Save Plan
Product Description: Smart saving, smarter investing. Tailor your investments and insurance plan with this versatile ULIP insurance plan.
Product Benefits: Custom investment strategies
Life cover with market-linked returns
Multiple fund options for diverse portfolios
Flexibility in premium payments
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn more
Dropdown Field: Investment

How Does a ULIP Plan Work?

If you are wondering how does a ULIP work, know that it involves a structured process where the premium you pay is divided between life insurance coverage and market-linked investment.

The working of a ULIP can be understood through the following steps:

Payment of the Premium
The policyholder selects a Unit Linked Insurance Plan and pays a premium either annually, half-yearly, quarterly, or monthly. For example, if the annual premium is ₹1,00,000, the amount becomes a part of the ULIP for allocation toward insurance and investment
Policy Charges Are Deducted
Before investing the premium, certain charges, such as premium allocation charge, mortality charge for life insurance coverage, and policy administration charges, are deducted as per the policy terms.
Units Are Allocated to ULIP Funds
After the charges are deducted, the remaining amount is invested in ULIP funds chosen by the policyholder. The units are allocated at the prevailing NAV of the selected fund. For example, if ₹95,000 is invested and the NAV is ₹10, the policyholder receives 9,500 units in the selected fund.
Investments grow on the basis of Market Performance
The value of the ULIP investment depends on the performance of the underlying funds. If the equity or debt markets perform well, the NAV increases and the overall fund value grows. Policyholders can also switch between ULIP funds to align investments with changing market conditions or financial goals.
Benefits Are Paid at Maturity or Death
If the policyholder survives the policy term, the maturity benefit is paid as the total fund value accumulated over time. In case of the policyholder’s death during the policy term, the nominee receives the death benefit. It can typically be the higher of the sum assured or the fund value as per policy terms.

How to Buy the Best Term Insurance Plan in India?

The structured mechanism represents how a ULIP investment helps policyholders participate in market growth while maintaining life insurance protection, making it a long-term investment plan designed for both wealth creation and financial security.

To understand how it works in practice, consider a simple example –

Suppose Mr. Shukla, a salaried professional working in a pharmaceutical company, invests an annual premium of ₹65,000 in a Unit Linked Insurance Plan. The choice of tenure is 20 years.

The initial Sum Assured is ₹6,50,000, which is 10 times the annual premium.

After applicable charges such as premium allocation and policy administration charges are deducted, the remaining amount is invested in funds chosen by the policyholder.

The annual charges are approximately ₹3,250.

The net annual investment is ₹61,750.

The Initial NAV is ₹13.

Units are then allocated based on the prevailing Net Asset Value (NAV).

The value of these units grows or falls depending on market performance.

The units purchased per year will be 4,750 (₹61,750 ÷ ₹13).

Total Units in 10 Years will be 47,500 (4,750 × 10)

If Mr. Shukla passes away during the policy term, the nominee receives the higher of the Sum Assured (₹6,50,000) or the fund value, which will be equal to the NAV at that time applied to the total units.

For example, if the NAV is ₹32.5, the fund value will be ₹15,43,700 (32.5 × 47,500). Therefore, the payout will be ₹15,43,700.

If Mr. Shukla survives the policy term, he will receive the fund value at maturity.

For example, if the NAV at maturity is ₹52, the fund value will be ₹24,70,000 (52 × 47,500).

The payout will be ₹24,70,000.

What are the Different Types of ULIPs?

The best ULIP plans in India can be categorised into different types of ULIP structures, based on premium payment and fund allocation. Understanding these can help policyholders choose a plan that aligns with their investment horizon, risk appetite, and premium-paying ability.

Terms Plans	Benefits
Single Premium ULIP	A single premium ULIP requires the policyholder to make a one-time lump sum premium payment at the beginning of the policy. The entire premium, after applicable ULIP charges, is invested into selected ULIP funds such as equity, debt, or balanced funds. This type of ULIP scheme is suitable for investors who have a lump sum amount available and want to deploy it into a long-term market-linked investment with life insurance coverage. It is also convenient for those who prefer not to commit to recurring premium payments.
Regular Premium ULIP	In a regular premium ULIP, the policyholder pays premiums periodically — monthly, quarterly, half-yearly, or annually — throughout the policy term. Each premium paid is partially allocated toward life insurance coverage, while the remaining amount is invested into chosen ULIP funds. It is one of the most common ULIP plans because it allows investors to build wealth gradually while maintaining consistent life insurance protection. It is particularly suitable for salaried individuals who prefer disciplined, recurring investments.
Limited Premium ULIP	A limited premium ULIP allows the policyholder to pay premiums for a fixed number of years while enjoying policy benefits for a longer duration. For example, premiums may be paid for 5–10 years while the policy continues for 15–20 years. Such a ULIP scheme suits investors who want to complete their premium commitments early but continue benefiting from long-term market-linked investment growth and life insurance coverage in the years to come.
Equity ULIP	Equity ULIPs primarily invest in stock market instruments and aim to deliver higher long-term returns by participating in equity market growth. Since equity markets can fluctuate in the short term, these ULIP funds carry relatively higher risk. Equity-based ULIP investment options are suitable for investors with a long investment horizon and a higher risk tolerance for maximum wealth creation potential.
Debt ULIP	Debt ULIPs invest in fixed-income instruments such as government bonds, corporate bonds, and other debt securities. These funds aim to provide relatively stable returns with lower exposure to market volatility. Debt-oriented ULIP plans are ideal for conservative investors or policyholders who prioritise capital preservation while still benefiting from the insurance component of a ULIP plan.
Balanced ULIP	Balanced ULIPs allocate investments across both equity and debt instruments, aiming to provide a mix of growth potential and stability. By diversifying investments, balanced ULIP funds attempt to reduce volatility while still capturing market ups. Such ULIP plans are suitable for investors seeking moderate risk exposure and a balanced investment approach that combines steady growth with financial protection.

Who Should Consider Investing in a ULIP?

ULIPs can suit different types of investors who want both life insurance protection and long-term investment growth within
a single financial product.

If you are evaluating whether a ULIP insurance plan fits your goals, the following profiles commonly benefit from ULIP plans:

Young professionals starting their financial journey

Individuals in their 20s or early 30s who want to begin a disciplined ULIP investment early on can benefit from long-term compounding while securing life insurance coverage.

Parents planning long-term goals for their children

ULIP plans can help build a corpus for future expenses such as higher education or marriage while maintaining protection for the family.

Investors seeking market-linked returns with tax efficiency

ULIP plans provide access to equity, debt, or balanced funds, while offering tax benefits under Sections 80C and 10(10D).

Risk-aware investors who value flexibility

Policyholders who prefer the option to switch between funds according to market conditions may find the best ULIP plans in India suitable for managing changing investment strategies.

Steps to Buy a ULIP Online

Step 1

Define Your Investment Goals

Decide on your investment amount and the financial gains you aim to achieve with a ULIP plan.

Step 2

Determine Premium & Policy Term

Calculate your ideal returns with the help of premium and policy term.

Step 3

Select Additional Benefits

Customise your plan with add-ons such as a critical illness cover or accidental death benefit to enhance your ULIP insurance policy.

Step 4

Complete Your Payment

Finalise your investment by making the payment. Your ULIP plan will be activated.

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How to Choose the Right ULIP?

Understanding how to choose the right ULIP plan is essential because ULIPs are designed as long-term financial tools. The right choice depends on your goals, risk tolerance, premium affordability, and investment horizon.

Define Your Financial Goals

Step 1

Identify your long-term goals, such as retirement planning, children’s education, or wealth accumulation. ULIP plans work best when held for longer durations (often 10 years or more), so align your premium tenure and investment horizon with when you expect to need the funds.

Assess Risk Appetite

Step 2

ULIPs offer equity, debt, and balanced fund options. Choose a fund mix that reflects your risk tolerance — equity funds for higher growth potential and debt funds for stability. You can gradually adjust allocations closer to your financial goals.

Evaluate Fund Performance

Step 3

Compare historical fund performance offered by different ULIP plans. While past performance does not guarantee future returns, it can help you understand how funds have behaved during different market conditions.

Consider Policy Charges

Step 4

Review all charges, such as the premium allocation charge, fund management charge, mortality charge, and policy administration charges. Understanding these costs can help you estimate the long-term impact on overall investment returns.

Check Flexibility Options

Step 5

Look for the best ULIP plans that offer flexibility through fund switching, premium redirection, and partial withdrawals. The flexibility allows policyholders to adjust their investment strategy if financial priorities or market conditions change.

Understand Lock-in Period

Step 6

ULIPs have a mandatory 5-year lock-in period, during which withdrawals are not permitted. Ensure you are comfortable with this commitment and plan your liquidity needs accordingly.

Examine Tax Benefits

Step 7

ULIPs provide tax benefits under Section 80C for premium payments and Section 10(10D) for maturity proceeds, subject to conditions. The tax advantages can significantly enhance the overall value of long-term financial planning.

Still unsure how to choose the best ULIP plan? Speak to an IndiaFirst Life advisor who can help you evaluate your goals, risk profile, and suitable online ULIP plans for your needs.

Online ULIP calculators may also prove helpful when it comes to understanding plan customisations and premium costs.

Note that while an online ULIP calculator can help you get estimates for maturity benefits, the actual returns from the plan may change.

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Eligibility Requirements for Buying a ULIP Plan

Eligibility for purchasing a ULIP plan is defined by specific criteria related to age, policy tenure, and premium commitments. These requirements ensure that the plan aligns with the investor’s financial profile and long-term investment horizon.

Minimum entry age is typically 18 years, while maximum entry age may go up to 65 years, depending on the plan

Minimum policy term is generally 5 years, in line with the mandatory lock-in period

Applicants must complete KYC documentation, including the submission of identity and address proof

Premium payment must meet the minimum amount specified under the chosen ULIP plan

The policyholder should comply with all insurer-specific terms and conditions at the time of purchase

How to Make a Claim on Your ULIP?

Understanding the ULIP claim process helps policyholders and nominees receive benefits smoothly when the policy matures or if the policyholder unexpectedly and unfortunately passes away.

ULIP claims are generally categorised into two types: maturity claims and death claims.

Maturity Claim

When a ULIP completes its term, the policyholder becomes eligible to receive the maturity benefit, which is usually the total fund value accumulated in the ULIP.

The insurer notifies the policyholder before policy maturity with details of the payout process.
The policyholder submits required documents, such as the policy document, identity proof, and bank account details.
The insurer verifies the policy details and confirms the fund value on the basis of the prevailing ULIP NAV.
Once verification is completed, the maturity benefit is credited to the policyholder’s registered bank account.

Death Claim

If the policyholder passes away during the policy term, the nominee can file a death claim to receive the applicable death benefit under the ULIP.

The nominee informs the insurer about the policyholder’s death and initiates the claim request.
Required documents, such as the death certificate, policy document, nominee identity proof, and claim form, are submitted.
The insurer reviews the claim documents and verifies policy conditions.
After successful verification, the death benefit is paid to the nominee according to the policy terms.

For assistance with claims, policyholders or nominees can also contact the insurer’s customer support team on 1800-209-8700 or visit the official claims support page for guidance.

ULIP vs Other Investment Options Under 80C

Investors evaluating tax-saving investments under Section 80C often compare ULIPs with options such as ELSS, PPF, NPS, or tax-saving fixed deposits. While many tools, like an SIP calculator or FD calculator, help estimate returns for mutual funds or deposits, ULIPs stand out because they combine life insurance protection with market-linked investment growth in a single investment.

Different Investment Options	Returns	Lock-in Period	Tax on Maturity	Insurance Cover	Liquidity
Ulip	Market-linked returns based on chosen funds	5 years	Tax-free under Section 10(10D) if conditions are met	Yes	Partial withdrawal allowed after lock-in
ELSS (Equity Linked Savings Scheme)	Market-linked equity returns	3 years	Taxable as capital gains	No	High liquidity after lock-in
PPF (Public Provident Fund)	Government-declared interest (approx. 7–8%)	15 years	Tax-free	No	Limited withdrawals allowed
NPS (National Pension System)	Market-linked with asset allocation	Until retirement (partial withdrawal allowed)	Partially taxable	No	Limited liquidity
Tax-Saving FD	Fixed interest rates decided by banks	5 years	Fully taxable	No	Premature withdrawal is not available

Among these options, ULIPs offer a unique combination of life insurance cover, market-linked investment potential, and tax benefits, making them suitable for investors seeking protection along with long-term wealth creation.

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Select Fund

Liquid Fund - Pension
Bond Fund
Discontinued Policy Pension Fund
Cash Fund
Liquid 1 Fund
Perm Discontinuos Fund
Balanced Fund
Dynamic Moderator Fund
Macro Trends Fund
Index Tracker Fund
Pension Liquid Fund
Group Secure Capital Fund
Liquid Fund
Debt 1 Fund
Equity Fund - Pension
Sustainable Equity Fund
Group Growth Advantage Fund
Equity Elite Opportunities Fund
Multi Cap Equity Fund
Debt Fund - Pension
Large Cap Equity Fund
Balanced 1 Fund
Flexi Cap Equity Fund
Pension Debt Fund
Group Money Market Fund
Balanced Fund - Pension
Value Fund
Pension Equity Fund
Equity Advantage Fund
Equity Fund
Debt Fund
Dynamic Asset Allocation Fund
Equity 1 Fund

Debt Funds

Liquid Fund - Pension

(SFIN:ULIF008161109LIQFUNDPEN143)

Medium Risk

Inception Date
25-Nov-09
NAV (15 May 2026)
21.168600000
Fund Size
Rs. 0.01 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Liquid Fund - Pension (Returns in %)

Bond Fund

(SFIN:ULGF002240111EBPBNDFUND143)

Medium Risk

Inception Date
4-Mar-11
NAV (15 May 2026)
27.918
Fund Size
Rs. 317.56 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Bond Fund (Returns in %)

Discontinued Policy Pension Fund

(SFIN:DPFPN32210725DPFPENFUND143)

Low Risk

Inception Date
13-Jan-26
NAV (15 May 2026)
10.198000000
Fund Size
Rs. 0.01 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Discontinued Policy Pension Fund (Returns in %)

Cash Fund

(SFIN:ULGF003240111EBPCSHFUND143)

Low Risk

Inception Date
7-Apr-11
NAV (15 May 2026)
18.500
Fund Size
Rs. 0.00 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Cash Fund (Returns in %)

Liquid 1 Fund

(SFIN:ULIF014010910LIQUID1FND143)

Low Risk

Inception Date
1-Sep-10
NAV (15 May 2026)
10.691900000
Fund Size
Rs. 0.12 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Liquid 1 Fund (Returns in %)

Perm Discontinuos Fund

(SFIN:DPFF016140511DPFND00000143)

Medium Risk

Inception Date
14-May-11
NAV (15 May 2026)
24.047000000
Fund Size
Rs. 992.39 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Perm Discontinuos Fund (Returns in %)

Pension Liquid Fund

(SFIN:ULIF030210725PENLIQFUND143)

Low Risk

Inception Date
11-Aug-25
NAV (15 May 2026)
13.916400000
Fund Size
Rs. 0.02 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Pension Liquid Fund (Returns in %)

Group Secure Capital Fund

(SFIN:ULGF00725/11/20GSCBNDFUND143)

Medium Risk

Inception Date
9-Nov-21
NAV (15 May 2026)
12.560
Fund Size
Rs. 25.54 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Group Secure Capital Fund (Returns in %)

Liquid Fund

(SFIN:ULIF007161109LIQUIDFUND143)

Medium Risk

Inception Date
9-Jan-13
NAV (15 May 2026)
18.061400000
Fund Size
Rs. 0.23 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Liquid Fund (Returns in %)

Debt 1 Fund

(SFIN:ULIF010010910DEBT01FUND143)

Medium Risk

Inception Date
17-Sep-10
NAV (15 May 2026)
25.353600000
Fund Size
Rs. 1966.17 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Debt 1 Fund (Returns in %)

Debt Fund - Pension

(SFIN:ULIF004161109DEBFUNDPEN143)

Medium Risk

Inception Date
25-Nov-09
NAV (15 May 2026)
26.642800000
Fund Size
Rs. 0.78 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Debt Fund - Pension (Returns in %)

Pension Debt Fund

(SFIN:ULIF029210725PENDEBTFND143)

Medium Risk

Inception Date
12-Aug-25
NAV (15 May 2026)
10.215000000
Fund Size
Rs. 2.77 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Pension Debt Fund (Returns in %)

Group Money Market Fund

(SFIN:ULGF00825/11/20GMMCSHFUND143)

Medium Risk

Inception Date
25-Nov-20
NAV (15 May 2026)
10.000
Fund Size
Rs. 0.00 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Group Money Market Fund (Returns in %)

Debt Fund

(SFIN:ULIF003161109DEBTFUND00143)

Medium Risk

Inception Date
25-Nov-09
NAV
NA
Fund Size
Rs. 1.18 Crore
Fund Manager
Sandeep Shirsat

Returns

Period	Debt Fund (Returns in %)

Hybrid Funds

Balanced Fund

(SFIN:ULIF005161109BALANCEDFN143)

Medium Risk

Inception Date
25-Nov-09
NAV (15 May 2026)
41.675300000
Fund Size
Rs. 9.88 Crore
Fund Manager
Sandeep Shirsat, Viraj Nadkarni

Returns

Period	Balanced Fund (Returns in %)

Dynamic Moderator Fund

(SFIN:ULGF006300713DYNMODFUND143)

Medium to High

Inception Date
31-Aug-13
NAV (15 May 2026)
22.621
Fund Size
Rs. 28.73 Crore
Fund Manager
Sandeep Shirsat, Viraj Nadkarni

Returns

Period	Dynamic Moderator Fund (Returns in %)

Balanced 1 Fund

(SFIN:ULIF011010910BALAN1FUND143)

Medium to High

Inception Date
14-Sep-10
NAV (15 May 2026)
36.732600000
Fund Size
Rs. 436.65 Crore
Fund Manager
Sandeep Shirsat, Viraj Nadkarni

Returns

Period	Balanced 1 Fund (Returns in %)

Balanced Fund - Pension

(SFIN:ULIF006161109BALFUNDPEN143)

Medium Risk

Inception Date
25-Nov-09
NAV (15 May 2026)
43.716800000
Fund Size
Rs. 3.51 Crore
Fund Manager
Sandeep Shirsat, Viraj Nadkarni

Returns

Period	Balanced Fund - Pension (Returns in %)

Dynamic Asset Allocation Fund

(SFIN:ULIF015080811DYAALLFUND143)

High Risk

Inception Date
9-Sep-11
NAV (15 May 2026)
37.927500000
Fund Size
Rs. 339.81 Crore
Fund Manager
Sandeep Shirsat, Viraj Nadkarni

Returns

Period	Dynamic Asset Allocation Fund (Returns in %)

Equity Funds

Macro Trends Fund

(SFIN:ULIF025010824MACREQUFND143)

High Risk

Inception Date
23-Sep-24
NAV (15 May 2026)
9.621400000
Fund Size
Rs. 12.23 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Macro Trends Fund (Returns in %)

Index Tracker Fund

(SFIN:ULIF012010910INDTRAFUND143)

High Risk

Inception Date
22-Sep-10
NAV (15 May 2026)
39.746200000
Fund Size
Rs. 42.08 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Index Tracker Fund (Returns in %)

Equity Fund - Pension

(SFIN:ULIF002161109EQUFUNDPEN143)

Medium Risk

Inception Date
25-Nov-09
NAV (15 May 2026)
56.957900000
Fund Size
Rs. 11.76 Crore
Fund Manager
Viraj Nadkarni, Alok Baadkar

Returns

Period	Equity Fund - Pension (Returns in %)

Sustainable Equity Fund

(SFIN:ULIF02221/02/22SUSTEQUFND143)

High Risk

Inception Date
29-Jul-22
NAV (15 May 2026)
15.279200000
Fund Size
Rs. 16.4 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Sustainable Equity Fund (Returns in %)

Group Growth Advantage Fund

(SFIN:ULGF00925/11/20GGAEQUFUND143)

High Risk

Inception Date
9-Nov-21
NAV (15 May 2026)
14.336
Fund Size
Rs. 1.9 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Group Growth Advantage Fund (Returns in %)

Equity Elite Opportunities Fund

(SFIN:ULIF020280716EQUELITEOP143)

High Risk

Inception Date
27-Oct-16
NAV (15 May 2026)
27.356300000
Fund Size
Rs. 154.54 Crore
Fund Manager
Viraj Nadkarni, Alok Baadkar

Returns

Period	Equity Elite Opportunities Fund (Returns in %)

Multi Cap Equity Fund

(SFIN:ULIF026101024MULTEQUFND143)

High Risk

Inception Date
31-Dec-24
NAV (15 May 2026)
10.607100000
Fund Size
Rs. 101.93 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Multi Cap Equity Fund (Returns in %)

Large Cap Equity Fund

(SFIN:ULIF027060125LARGEQUFND143)

High Risk

Inception Date
28-Jan-25
NAV (15 May 2026)
10.840600000
Fund Size
Rs. 134.05 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Large Cap Equity Fund (Returns in %)

Flexi Cap Equity Fund

(SFIN:ULIF02121/02/22FLEXCAPFND143)

High Risk

Inception Date
29-Jul-22
NAV (15 May 2026)
18.796000000
Fund Size
Rs. 170.77 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Flexi Cap Equity Fund (Returns in %)

Value Fund

(SFIN:ULIF013010910VALUEFUND0143)

High Risk

Inception Date
16-Sep-10
NAV (15 May 2026)
51.573100000
Fund Size
Rs. 283.76 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Value Fund (Returns in %)

Pension Equity Fund

(SFIN:ULIF028210725PENEQTYFND143)

Medium to High

Inception Date
31-Aug-25
NAV (15 May 2026)
10.332200000
Fund Size
Rs. 98.3 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Pension Equity Fund (Returns in %)

Equity Advantage Fund

(SFIN:ULGF001240111EBPEQADFND143)

High Risk

Inception Date
4-Mar-11
NAV (15 May 2026)
51.861
Fund Size
Rs. 105.65 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Equity Advantage Fund (Returns in %)

Equity Fund

(SFIN:ULIF001161109EQUITYFUND143)

High Risk

Inception Date
25-Nov-09
NAV (15 May 2026)
52.321200000
Fund Size
Rs. 22.54 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Equity Fund (Returns in %)

Equity 1 Fund

(SFIN:ULIF009010910EQUTY1FUND143)

High Risk

Inception Date
15-Sep-10
NAV (15 May 2026)
47.432500000
Fund Size
Rs. 5412.87 Crore
Fund Manager
Viraj Nadkarni

Returns

Period	Equity 1 Fund (Returns in %)

Equity1 fund

Fund Name
NAV
As of Date
SFIN number
Risk Category
Fund Manager
Asset Allocation
Fund Size

Product Suggestion

Nav History

Since Inception
5 years
3 years
2 years
1 year
6 months
3 months

From Date

To Date

Showing Data from 18/11/2009 - 22/12/2023

Date	NAV (in Rs.)
23-06-23	40.1609
23-06-23	40.1609
23-06-23	40.1609
23-06-23	40.1609
23-06-23	40.1609
23-06-23	40.1609
23-06-23	40.1609

Disclaimer: Past performance is not indicative of future results; Net Asset Values (NAV) may fluctuate, and investors should carefully consider their investment objectives before making decisions.

Fund Fact Sheet

Select Month

Select Year

Fund Name
Balanced 1 Fund
NAV
30.5071
As of Date
23.11.2023, 10:10 AM
SFIN number
ULIF010010910DEBT01FUND143
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Other Equity Funds

ULIP plan FAQs

View All FAQ

General

Premiums and Payments

Returns

Claims and Withdrawals

What are the Key ULIP Terms to Remember?

Answer

Understanding a few key terms makes it easier to evaluate unit linked insurance plans and track how your ULIP policy performs over time.

The following glossary explains commonly used ULIP terminology in simple language.

	Meaning
NAV (Net Asset Value)	The price of one unit of a ULIP fund. It reflects the current market value of the underlying investments and is calculated daily.
AUM (Assets Under Management)	The total market value of assets managed within a ULIP fund across all policyholders. It represents the overall size of the investment pool.
Fund Switch	The option that allows policyholders to move investments between ULIP funds such as equity, debt, or balanced funds, on the basis of market conditions or financial goals.
Premium Allocation Charge	A charge deducted from the premium before the amount is invested. It typically covers policy issuance and administrative expenses.
Mortality Charge	The fee charged for providing life insurance coverage within the ULIP policy. It varies on the basis of age, health profile, and sum assured.
Lock-in Period	The mandatory 5-year period during which withdrawals from ULIP plans are not permitted. This encourages long-term investing.
Partial Withdrawal	A feature that allows policyholders to withdraw a portion of the ULIP fund value after the lock-in period while keeping the policy active.
Rider	Optional add-ons that enhance ULIP coverage, such as critical illness, accidental death, or disability riders.
Sum Assured	The guaranteed life insurance amount payable to the nominee if the policyholder passes away during the policy term.
Maturity Benefit	The total fund value paid to the policyholder when the ULIP policy reaches the end of its term.

Why Invest in ULIPs?

Answer

If you are evaluating long-term financial tools that combine protection and market participation, understanding why investing in a ULIP can help could clarify how these plans support both wealth creation and life insurance coverage within a single investment structure.

Market-Linked Growth

Gain exposure to equity and debt markets for potentially higher returns, aligning with your risk appetite and financial goals.

Life Insurance Cover

Secure a financial safety net for your family with life insurance coverage bundled within ULIPs.

Flexible Investment Options

Choose from various fund options such as equity, debt, or balanced funds to customise your investment strategy.

Wealth Accumulation

Build wealth over time as the value of your investment grows; ULIPs can be an effective long-term savings option.

Loyalty Benefits

Benefit from loyalty bonuses rewarding long-term commitment to the plan and enhancing returns.

Automatic Fund Management

Enjoy automated fund management options that adjust your portfolio based on market performance and risk profile.

Partial Withdrawal Options

Access funds in emergencies without liquidating your entire investment.

Tax Benefits

Avail of tax deductions on premiums under Section 80C and tax-free maturity benefits under Section 10(10D).

Fund Switching

Adapt your investments to market conditions by switching between equity, debt, and balanced funds as needed.

Premium Redirection

Redirect future premiums into different funds based on evolving financial goals or market trends.

Top-Up Facility

Increase your investment by adding top-up premiums, maximising your fund’s growth potential.

Loan Availability

Access loans against your policy when needed, providing liquidity without disrupting long-term goals.

Settlement Options

Customise payouts to suit your needs, whether as a lump sum or periodic instalments.

Rider Add-Ons

Enhance coverage by adding riders such as accidental death, disability, or critical illness cover.

Transparent Fee Structure

Benefit from disclosed charges, allowing better understanding and control of investment costs.

Performance Updates

Receive regular updates on fund performance; stay informed and in control of your investment.

Legacy Planning

Use Unit Linked Insurance Plans to create a structured legacy plan, smoothly transferring wealth to future generations

What is ULIP NAV?

Answer

A ULIP NAV refers to the Net Asset Value of a ULIP fund, which represents the price of one unit of the fund at a given time. It is essentially the value used to calculate how many units your premium buys and how your ULIP investment grows over time.

ULIP NAV is calculated daily on the basis of the market value of the assets held in the fund, such as equities, bonds, or money market instruments. When a policyholder pays the premium, the investment allocation is converted into fund units on the basis of the prevailing ULIP NAV on that day.

The formula used to calculate ULIP NAV is:

NAV = (Total Assets of the Fund − Liabilities) ÷ Total Number of Units

Policyholders can track ULIP NAV through the insurer’s website or policy dashboard, to monitor how their ULIP funds are performing in the market.

What are the Different Types of ULIP Funds?

Answer

The funds of a ULIP represent its investment component. It allows policyholders to allocate their premium across different asset classes on the basis of risk appetite and financial goals. Understanding the different types of ULIP funds can help investors choose the right mix of growth and stability within their policy.

Equity Funds

An equity fund in ULIP primarily invests in stocks and equity-related instruments. These funds aim to generate higher long-term returns by participating in equity market growth.

Equity ULIP funds are suitable for investors with a long investment horizon and a higher risk tolerance, as equity markets may fluctuate in the short term but offer strong growth potential over time.

Debt Funds

A debt fund in ULIP invests in fixed-income instruments such as government securities, corporate bonds, and other debt instruments. The funds aim to provide relatively stable returns with lower exposure to market volatility.

Debt ULIP funds are generally preferred by conservative investors who prioritise capital preservation and predictable returns over aggressive growth.

Balanced or Hybrid Funds

A balanced fund in ULIPs combines both equity and debt investments within a single portfolio. The aim is to balance growth potential from equities with stability provided by debt instruments.

Balanced ULIP funds are suitable for investors seeking moderate risk exposure and a diversified investment strategy within their ULIP policy.

Liquid Funds

A liquid fund in ULIP invests in short-term money market instruments and highly liquid assets. The funds focus on capital preservation and quick access to funds rather than aggressive growth.

Liquid ULIP funds are typically chosen by investors who prefer minimal risk and high liquidity within their investment portfolio.

Cash Funds or Money Market Funds

A cash fund or money market fund in ULIPs invests in highly liquid financial instruments such as treasury bills, certificates of deposit, and commercial paper. The funds prioritise safety and liquidity.

They are suitable for conservative investors or policyholders who temporarily want to park their investments in low-risk instruments.

Growth Funds

A growth fund in ULIP primarily focuses on equity investments with the goal of maximising capital appreciation over the long term. The funds actively pursue market opportunities to generate higher returns.

Growth-oriented ULIP funds are ideal for investors who are comfortable with market fluctuations and want to maximise wealth creation over extended investment horizons.

Fund Type	Risk Level	Ideal For	Expected Return Range
Equity Funds	High	Long-term investors seeking growth	10–15% (market-dependent)
Debt Funds	Low to Moderate	Conservative investors seeking stability	6–8%
Balanced Funds	Moderate	Investors seeking a balance of growth and stability	8–10%
Liquid Funds	Low	Short-term parking of funds	4–6%
Money Market Funds	Low	Investors prioritising liquidity	4–6%
Growth Funds	High	Aggressive long-term investors	10–15%

What are the Common ULIP Myths?

Answer

Myth 1: ULIPs Are Expensive

In the past, ULIPs carried higher charges, particularly before 2008. Regulatory reforms subsequently introduced by the Insurance Regulatory and Development Authority of India (IRDAI) significantly reduced ULIP charges, making some of the best ULIP plans more cost-efficient for long-term investors.

Myth 2: ULIPs Are Risky Investments

Many people believe ULIPs are inherently risky. But policyholders can choose from different ULIP funds, such as equity, debt, or balanced funds, depending on their risk tolerance, allowing them to manage investment risk more effectively.

Myth 3: ULIPs Have a 3-Year Lock-In Period

ULIPs previously had a lock-in period of three years. Regulations now require a minimum 5-year lock-in period. It encourages long-term investing and allows policyholders to benefit from compounding over time.

Myth 4: ULIPs Lack Flexibility

ULIPs are sometimes considered inflexible financial products. Most online ULIP plans allow policyholders to switch between funds, redirect future premiums, and make partial withdrawals in ULIP after the lock-in period, offering considerable flexibility.

Myth 5: ULIPs Yield Low Returns

Returns from ULIPs depend largely on the chosen fund type and market performance. Equity-oriented ULIP funds, for example, can potentially generate competitive long-term returns when held over extended investment horizons.

Myth 6: ULIPs Are Restrictive

Many investors believe ULIPs restrict access to funds. While the five-year lock-in period limits early withdrawals, policyholders can access their fund value afterwards without surrender charges.

Myth 7: ULIPs Don’t Offer Health or Accident Coverage

Some assume ULIPs only provide investment benefits. But ULIPs can include optional riders such as critical illness cover, accidental death cover, or disability cover, enabling policyholders to strengthen their insurance protection.

What are the Tax Benefits of ULIPs?

Answer: Taxation benefit is one of the key reasons investors consider ULIPs. Understanding the tax benefits on a ULIP can help policyholders evaluate how these plans support long-term financial planning while reducing tax liability under the Income Tax Act.

Section 80C – Premium Deduction

Premiums paid toward a ULIP policy qualify for a tax deduction of up to ₹1.5 lakh in a financial year, under Section 80C.

Section 10(10D) – Tax-Free Maturity Proceeds

The maturity proceeds received from a ULIP are generally tax-free under Section 10(10D), provided the annual premium does not exceed 10% of the sum assured and other prescribed conditions are met.

Budget 2021 Announcement

For ULIP policies issued after 1 February 2021, where the total annual premium exceeds ₹2.5 lakh, maturity proceeds may be taxable as capital gains.

Section 80D – Health Rider Benefit

If a ULIP includes a health-related rider such as critical illness coverage, the premium allocated toward that rider may qualify for deductions under Section 80D, subject to applicable limits.

Is ULIP tax-free on maturity?

Answer: Yes, ULIP maturity proceeds are tax-free under Section 10(10D) if the premium paid in any year does not exceed 10% of the sum assured, along with the meeting of other prescribed conditions.

What are the Things to Remember Before Investing in ULIPs?

Answer

Risk Appetite

Determine your comfort with different risk levels, before investing. ULIPs offer various fund choices based on risk tolerance—conservative investors may lean toward debt funds. Those open to higher risk can select equity funds.

ULIP Charges

Understand all ULIP charges, including mortality, policy administration, fund management, and premium allocation fees, as these impact returns over time.

Flexibility

ULIPs allow switching between funds. Consider switch costs, ease of switching, and any complementary switches that are included.

Premium Payment Options

ULIPs offer single, limited, and regular payment options. Compare plans to choose one that suits your payment preference.

How to Choose the Right ULIP Sum Assured?

Answer

A common rule of thumb when selecting a ULIP sum assured is to choose coverage equal to 10–15 times your annual income. It helps ensure adequate income replacement for your family while maintaining the investment component of the ULIP policy.

Assess Your Life Stage and Financial Responsibilities

The sum assured should align with your financial obligations and dependents. If you are the primary earning member supporting children, a spouse, or ageing parents, a higher sum assured can provide financial stability in case of unforeseen circumstances.

Evaluate Current and Future Liabilities

Consider your current financial liabilities, such as home loans, education loans, or other long-term commitments. The ULIP’s sum assured value should ideally be sufficient to help your family repay these liabilities and maintain financial stability if you are no longer around.

Factor in Your Investment Goals

ULIPs combine life insurance with market-linked investment. While the sum assured protects your family, the investment component helps you build a corpus for long-term goals such as retirement or children’s education.

Evaluate Your Risk Tolerance

The level of sum assured you choose may influence the premium payable. Policyholders should ensure the premium remains affordable so they can maintain the ULIP policy consistently over the long term.

Consider Inflation

Inflation can gradually reduce the real value of the sum assured over time. Selecting a slightly higher coverage amount or reviewing your ULIP coverage periodically can help maintain adequate financial protection.

Review and Adjust Regularly

It is important to review your ULIP coverage periodically as life circumstances change. Major life events, such as marriage, the birth of a child, or increased financial liabilities, may require adjusting the sum assured to ensure continued protection.

What is the difference between ULIP and SIP?

Answer: ULIPs combine life insurance and market-linked investment, while SIPs invest only in mutual funds without providing life insurance coverage. ULIPs provide life coverage while allowing investments in equity, debt, or balanced funds. SIPs, or Systematic Investment Plans, invest in mutual funds and focus solely on wealth creation without any life cover. While ULIPs offer tax benefits and insurance, SIPs are often more liquid and offer broader market exposure. ULIP charges may be higher due to insurance benefits, while SIPs typically have a low-cost structure. Both are suitable for long-term investment but serve different goals.

How is ULIP different from a traditional plan?

Answer: A ULIP differs from a traditional insurance plan because it combines life insurance with market-linked investments. Unlike traditional insurance, which focuses mainly on life cover, ULIPs combine life insurance with investment in market-linked funds, offering both protection and growth potential.

Is GST applicable to ULIPs?

Answer: Yes, GST is applicable on ULIP premiums and certain policy charges such as mortality and fund management charges.

What is the right time to invest in ULIPs?

Answer: The best time to invest in ULIPs is sometime early on in your career, so that the investment can benefit from long-term compounding and market growth.

What is the fund value in a ULIP?

Answer: Fund value refers to the total value of the investments held in a ULIP on the basis of the number of units and the current NAV. The fund value is the total worth of the policyholder’s investment in the ULIP’s chosen funds. It reflects unit NAV and total units purchased.

Are ULIPs a good investment?

Answer: ULIPs can be a suitable long-term investment for individuals seeking both life insurance coverage and market-linked wealth creation. ULIPs are ideal for individuals seeking combined life cover and long-term growth, offering both protection and potential market returns.

Is a ULIP better than a Mutual Fund?

Answer: ULIPs offer insurance and investment in one, while mutual funds focus solely on investments. ULIPs have a lock-in period and are tax-efficient, while mutual funds offer liquidity and may have lower charges. Both serve different financial goals.

How are units allotted under a ULIP?

Answer: Units are allocated based on the ULIP NAV at the time the premium is invested in the chosen funds.

What is AUM?

Answer: AUM (Assets Under Management) refers to the total market value of assets managed by a ULIP fund.

How to claim tax benefit on ULIPS?

Answer: ULIP tax benefits are claimed under Section 80C for premium payments, and Section 10(10D) for maturity benefits, provided eligibility criteria are met.

What are the Types of ULIP Fees And Charges?

Answer: Premium Allocation Charges

The charge is deducted as a percentage of the premium, often at a higher rate during the initial policy years.

It is applied before the policy allocation and covers various expenses, including initial fees, renewal fees, and medical costs.

Premium allocation charges are deducted by the insurance provider to offset initial setup and policy maintenance costs.

Policy Administration Charges

Insurers impose policy administration charges monthly to manage the administrative aspects of the policy.

The ULIP charges cover the insurer's cost for handling documentation, record maintenance, and other operational needs required to maintain the ULIP.

Fund Management Charges

These are levied for overseeing the investment component of your ULIP, with the goal of maximising potential returns.

As the name implies, these charges cover the insurer’s costs for managing the assets you’re invested in.

They are usually deducted as a percentage of the funds under management.

Partial Withdrawal Charges

Partial withdrawals can incur charges or penalties, which vary on the basis of the insurance provider’s policy.

The fee is typically applied per withdrawal and helps to discourage frequent fund withdrawals.

Mortality Charges

They cover the cost of life insurance within the ULIP and are calculated on the basis of factors such as age and sum assured.

For instance, a policyholder purchasing a ULIP at age 25 will generally pay lower mortality charges than a 50-year-old, as life expectancy is higher for younger individuals.

Mortality charges are usually deducted monthly.

Switching Charges

ULIPs allow investors to switch between different funds (e.g., equity, debt, or balanced) based on their risk appetite or market performance.

While insurers typically permit a certain number of free switches annually, additional switches may incur charges.

The charges depend on the insurer’s fee structure and provide flexibility while maintaining cost control.

Rider Charges

There are additional costs that apply if you choose optional riders (add-ons) such as critical illness or accidental death benefits.

The charges are separate from the base ULIP fees and are typically added to your premium.

Each rider has its unique pricing, depending on its nature and coverage.

Surrender Charges

If you decide to discontinue your ULIP within the lock-in period, surrender charges are applicable.

The charges are deducted from the fund’s total value and serve as a penalty for early withdrawal.

After the lock-in period, surrender charges are no longer applied, allowing you to access the full fund value without incurring additional costs.

What is the minimum lock-in period for a ULIP?

Answer: The minimum lock-in period for a ULIP is five years, during which withdrawals aren’t permitted.

What is the benefit payable on the maturity of a ULIP policy?

Answer: On maturity, ULIPs provide the fund value accumulated over the policy term, based on chosen fund performance and market conditions.

Can I stop paying premiums for my ULIP after five years?

Answer: Yes, after five years, you can make your policy “paid-up,” stopping premium payments. The policy will continue, but benefits may be proportionately reduced.

Can we increase the premiums for a ULIP plan?

Answer: Yes, many ULIPs allow top-up premiums to increase investment.

Can we purchase a ULIP with only a single payment?

Answer: Yes, some ULIPs offer a single premium option for lump-sum investment.

How to Manage ULIP Funds?

Answer

Learning how to manage ULIP funds effectively can help policyholders maximise long-term returns while maintaining a balanced investment strategy. Since ULIPs allow investments across equity, debt, and balanced funds, actively monitoring and adjusting your allocation over time can improve overall financial outcomes.

Review Fund Performance Regularly

Policyholders should review the performance of their ULIP funds at least once a year. Comparing fund performance against market benchmarks can help determine whether the chosen investment strategy continues to align with financial goals.

Use Fund Switching When Needed

Most online ULIP plans allow a limited number of free fund switches each year. Policyholders can use this feature to move investments between equity, debt, or balanced funds when market conditions change or when their risk tolerance evolves.

Avoid Panic During Market Volatility

Market-linked investments may fluctuate in the short term. Instead of reacting to temporary market dips, policyholders should focus on long-term financial objectives and avoid frequent switching driven by short-term market movements.

Align Fund Allocation with Financial Goals

As financial goals approach, investors may consider gradually shifting from higher-risk equity funds to relatively stable debt funds. The strategy can help protect accumulated gains while reducing exposure to market volatility closer to the goal timeline.

By reviewing investments periodically, using fund switching carefully, and maintaining a long-term perspective, policyholders can manage ULIP funds more effectively and keep their investment strategy aligned with evolving financial goals.

Is ULIP a short-term or long-term saving option?

Answer: ULIPs are primarily long-term savings options, as the benefits of compounding and market-linked returns grow significantly over an extended investment period.

How do I maximise my ULIP return?

Answer: To maximise ULIP returns, switch funds based on market conditions, stay invested long-term, and choose funds aligning with your risk profile and financial goals.

Are ULIPs suitable for the long term?

Answer: Yes, ULIPs are designed as long-term investments, as staying invested longer maximises compounding and investment growth.

How is the fund value calculated in ULIPs?

Answer: Fund value is calculated by multiplying the ULIP NAV by the total units held in the policy.

How much return is guaranteed in a ULIP?

Answer: No specific returns are guaranteed in ULIPs, as they depend on fund performance and market conditions.

How can I track my ULIP fund value?

Answer: You can track your ULIP fund value through your insurer’s online portal or app, which shows NAV updates and fund performance.

What is the average return on ULIPs?

Answer: Average returns vary widely, typically ranging from 8-12% over the long term, depending on fund choice and market performance.

Is partial withdrawal taxable in Unit-linked Insurance Plans?

Answer: No, partial withdrawals after the five-year lock-in period are generally tax-free, provided specific conditions under Section 10(10D) of the Income Tax Act are met.

When can I withdraw from a ULIP?

Answer: Withdrawals are permitted after the five-year lock-in period.

Can I cancel/surrender my ULIP plan?

Answer: Yes, you can surrender your ULIP before the lock-in period, but charges will be applicable. After five years, surrender is penalty-free.

Can I surrender my ULIP before five years?

Answer: Yes, but early surrender incurs charges, and funds are accessible only after the lock-in period.

Can we partially withdraw from the ULIP amount?

Answer: Yes, partial withdrawals are allowed after the five-year lock-in period.

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