Long-Term Investments For A Secure Future

ULIP – Unit-Linked Insurance Plan

A single plan to give you peace of mind as well as a sense of security for the future. ULIPs can change the face of your financial planning strategy. With your premium directed towards investment as well as life insurance, it can ease some of your financial worries about the long term. Get a head-start when it comes to creating future security, with a range of advantages that ULIPs offer.

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

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What are Unit-Linked Insurance Plans?
Why Invest in ULIPs?
Explore IndiaFirst Life ULIP Plans
Benefits of ULIPs
How Does a ULIP Work?
Types of ULIP Funds
ULIP Fund Performance
How to Choose the Right ULIP?
How to Choose the Right ULIP Sum Assured?
Steps to Buy a ULIP Online
Talk to an Advisor
Types of ULIP Fees And Charges
Things to Remember Before Investing in ULIP
How to Manage ULIP Funds?
Glossary – Key ULIP Terms to Remember
Common ULIP Myths Demystified
FAQs
Why Choose IndiaFirst Life?
Testimonials

What are Unit-Linked Insurance Plans?

Unit Linked Insurance Plans are a type of financial product combining the benefits of both financial security and wealth creation. Often hailed as a single solution for people seeking investment and insurance, ULIP plans have a range of benefits to offer. However, their structure can be overwhelming for new customers wanting to know whether a ULIP-based scheme is the right option for them. Moreover, before deciding on a long-term investment such as ULIPs, it is necessary to understand what they have to offer.

In the case of a ULIP, formally known as Unit-linked Insurance Plans, there are two primary facets consumers need to understand.

The first is a life cover. Traditionally, a life insurance plan is a contract binding the policyholder to pay premiums into a selected plan against the promise of a death benefit. If the life assured were to pass away when the policy is in force, their nominee can claim the death benefits, subject to the conditions of the policy. Depending on the plan chosen, the policyholder may be offered a host of other benefits.
The second facet comes in the form of investment opportunities. The premium paid is also directed towards market-linked investments The returns can be gained as maturity benefits. Based on the strategy chosen, the investments may bear varying results.

Why Invest in ULIPs?

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 ULIPs to create a structured legacy plan, smoothly transferring wealth to future generations.

Explore IndiaFirst Life ULIP Plans

Products

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
6 Investment Strategies
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn More
Dropdown Field: Investment

Products

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
Option for partial withdrawals
Tax benefits
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
Liquidity through partial withdrawals
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
Top-up facility for additional investment
Porduct Detail Page URL: Get Quote
Product Buy Now URL and CTA Text: Learn more
Dropdown Field: Investment

Benefits of ULIPs

Flexibility of Investment

ULIPs offer significant flexibility in choosing investment options based on your risk tolerance. They generally provide various fund options, including equity, debt, and balanced funds. You can switch between these funds, allowing you to align your portfolio with changing market conditions or your evolving risk profile. This switching flexibility—typically free for a limited number of transactions each year—enables investors to adjust their strategies without incurring high costs.

Additionally, ULIPs allow you to increase or decrease your premium payments to suit your financial situation. It gives you more control over how much you invest. This flexibility empowers you to balance your goals while managing life’s unpredictable expenses.

Tax Benefits

One of the most attractive features of ULIPs is their tax-saving potential. Premiums paid for ULIPs are eligible for deductions under Section 80C of the Income Tax Act, allowing tax savings up to ₹1.5 lakh annually. The maturity benefits and any partial withdrawals made after five years of the policy term are exempt from tax under Section 10(10D). This makes ULIPs an efficient tool for tax planning. This dual ULIP tax benefit is a significant advantage, as it allows you to grow your wealth while reducing tax liabilities.

Regular Savings

ULIPs encourage disciplined, regular savings, which are crucial for long-term wealth creation. By committing to regular premium payments, investors build a habit of saving consistently. This can translate into a steady accumulation of wealth over time. The dual nature of ULIPs ensures you’re not only saving but also investing, enabling you to create a financial corpus while ensuring life cover.

Potential for Growth

The investment component of ULIPs offers growth potential by enabling exposure to various asset classes. Equity-oriented ULIPs, for example, can offer substantial returns over the long term, making them ideal for investors looking to maximise their wealth creation. Since ULIPs are long-term investments, they also allow investors to benefit from compounding, significantly increasing potential returns over time. This combination of growth and compounding can lead to a substantial increase in the policy’s value, especially when investors stay invested for an extended period.

Protection

ULIPs include an insurance component, providing life cover along with investment growth. In the unfortunate event of the policyholder’s death, the beneficiaries receive a death benefit. The benefit may include the higher of the fund value or the sum assured. This ensures that, along with wealth accumulation, there is also a financial safety net for your family. The insurance aspect of ULIPs provides peace of mind, having policyholders know that their loved ones are financially protected.

Greater Rewards for Staying Invested

ULIPs encourage long-term investment by offering loyalty additions or “bonuses” for staying invested over time. These bonuses are typically added to the fund value and can significantly enhance the total return. By staying invested, policyholders can benefit from additional units being added, which increase the overall value of their investment without requiring extra contributions. This structure not only encourages long-term financial discipline but also rewards it.

How Does a ULIP Work?

In a Unit Linked Insurance Plan (ULIP), the investment risk is borne by you, the policyholder. However, you also get the opportunity to grow your funds based on market performance. The primary goal of a ULIP is to secure your loved ones financially, combining life insurance with investment options to support long-term financial planning.

Following is a quick insight into how a ULIP functions.

The prospective policyholder chooses the right plan to suit their needs. They initiate the payment process (online or offline). After customising the policy, they pay the premium, based on the premium payment frequency selected by them.
After the premium payment, the policy is in force and the life assured is extended a life cover for the chosen duration.
In case something unfortunate happens to the life assured, the nominee may be able to claim a benefit, subject to policy conditions.
On the other hand, if the life assured were to survive the policy duration, the maturity benefits are extended to the policyholder.
In case of ULIPs, the maturity benefits come in the form of market-linked investments.
During the policy term, the policyholder can choose from different fund options and strategies available, based on the options available.
The policyholder and the life assured could be the same individual. It is also possible for the policyholder to buy the plan for someone else (such as a spouse), provided the plan allows for the same.

Types of ULIP Funds

Equity Funds

They primarily invest in stocks and equities, making them a higher-risk option but with the potential for high returns over the long term. These funds are ideal for investors with a high-risk appetite and longer investment horizons, as they offer the chance to benefit from market upswings.

Debt Funds

They invest in fixed-income securities such as government bonds, corporate bonds, and debentures. These funds provide relatively stable returns with lower risk compared to equity funds. Debt funds are suitable for investors with a lower risk tolerance seeking consistent returns without market volatility.

Balanced or Hybrid Funds

They combine both equity and debt investments, offering a moderate level of risk and return. They aim to balance growth and stability by allocating a portion of the fund to equities for growth and to debt for stability. These funds are suitable for investors seeking a balanced portfolio with a moderate risk-return profile.

Liquid Funds

They are a low-risk option that invest in short-term money market instruments and cash assets. These funds focus on capital preservation and provide high liquidity. They are a good choice for investors looking for short-term investment avenues with minimal risk.

Cash Funds or Money Market Funds

These funds invest in highly liquid, short-term instruments such as treasury bills, certificates of deposit, and commercial paper. They are designed to provide quick liquidity. They are suited for conservative investors or those needing a place to temporarily hold cash with minimal exposure to market fluctuations.

Growth Funds

They focus on equity investments with an aim to maximise capital appreciation. While they carry a higher risk, they are suited for long-term investors willing to withstand market volatility to achieve high returns.

ULIP Fund Performance

Select Product

IndiaFirst Future Plan-143L003V01
IndiaFirst Employee Benefit Plan-143L013V02
IndiaFirst Life Radiance Smart Invest Plan-143L067V01
IndiaFirst Life Term with Unit Linked Insurance Plan - 143L072V01
IndiaFirst Life Term with Unit Linked Insurance Plan - 143L072V02
IndiaFirst Life Term with ULIP Plus Plan-143L073V01
IndiaFirst Life Term with ULIP Plus Plan-143L073V02
IndiaFirst Life TULIP Pro Plan-143L077V01
IFL MoneyBack Health Plan-143L014V01
IndiaFirst Young India Plan-143L011V01
IndiaFirst High Life Plan-143L015V01
IndiaFirst Savings Plan-143L004V01
IndiaFirst Education Plan-143L002V01
IndiaFirst Life Wealth Maximizer Plan-143L029V01
IndiaFirst Life Wealth Maximizer Plan-143L029V03
IndiaFirst Life Wealth Maximizer Plan-143L029V04
IndiaFirst Life Wealth Maximizer Plan-143L029V05
Superannuation Plan-143N020V03
IndiaFirst Smart Save Plan-143L010V01
IndiaFirst Money Balance Plan-143L017V01
IndiaFirst Money Balance Plan-143L017V02
IndiaFirst Smart Save Plan-143L010V02
IndiaFirst Happy India Plan-143L011V02
IndiaFirst Money Balance Plan-143L017V03
IndiaFirst Money Balance Plan-143L017V07
IndiaFirst Money Balance Plan-143L017V04
IndiaFirst Money Balance Plan-143L017V05
IndiaFirst Money Balance Plan-143L017V06

Select Fund

Liquid Fund - Pension
Bond Fund
Cash Fund
Liquid 1 Fund
Perm Discontinuos Fund
Balanced Fund
Dynamic Moderator Fund
Macro Trends Fund
Index Tracker 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
Group Money Market Fund
Balanced Fund - Pension
Value Fund
Equity Advantage Fund
Equity Fund
Dynamic Asset Allocation Fund
Equity 1 Fund

Debt Funds

Liquid Fund - Pension

(SFIN:ULIF008161109LIQFUNDPEN143)

Medium Risk

Inception Date
25-Nov-09
NAV (14 August 2025)
20.754500000
Fund Size
Rs. 0.20 crore
Fund Manager
Sandeep Shirsat

Returns

Period	Liquid Fund - Pension (Returns in %)

Bond Fund

(SFIN:ULGF002240111EBPBNDFUND143)

Medium Risk

Inception Date
4-Mar-11
NAV (14 August 2025)
27.607
Fund Size
Rs. 171 crore
Fund Manager
Sandeep Shirsat

Returns

Period	Bond Fund (Returns in %)

Cash Fund

(SFIN:ULGF003240111EBPCSHFUND143)

Low Risk

Inception Date
7-Apr-11
NAV (14 August 2025)
18.500
Fund Size
Rs. 0 crore
Fund Manager
Sandeep Shirsat

Returns

Period	Cash Fund (Returns in %)

Liquid 1 Fund

(SFIN:ULIF014010910LIQUID1FND143)

Low Risk

Inception Date
1-Sep-10
NAV (14 August 2025)
10.236100000
Fund Size
Rs. 0 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 (14 August 2025)
23.092900000
Fund Size
NA
Fund Manager
Sandeep Shirsat

Returns

Period	Perm Discontinuos Fund (Returns in %)

Group Secure Capital Fund

(SFIN:ULGF00725/11/20GSCBNDFUND143)

Medium Risk

Inception Date
9-Nov-21
NAV (14 August 2025)
12.299
Fund Size
Rs. 11 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 (14 August 2025)
17.533200000
Fund Size
Rs. 0.03 crore
Fund Manager
Sandeep Shirsat

Returns

Period	Liquid Fund (Returns in %)

Debt 1 Fund

(SFIN:ULIF010010910DEBT01FUND143)

Medium Risk

Inception Date
17-Sep-10
NAV (14 August 2025)
25.220300000
Fund Size
Rs. 2179 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 (14 August 2025)
26.793200000
Fund Size
Rs. 34 crore
Fund Manager
Sandeep Shirsat

Returns

Period	Debt Fund - Pension (Returns in %)

Group Money Market Fund

(SFIN:ULGF00825/11/20GMMCSHFUND143)

Medium Risk

Inception Date
25-Nov-20
NAV (14 August 2025)
10.000
Fund Size
Rs. 0 crore
Fund Manager
Sandeep Shirsat

Returns

Period	Group Money Market Fund (Returns in %)

Value Fund

(SFIN:ULIF013010910VALUEFUND0143)

Medium Risk

Inception Date
25-Nov-09
NAV (14 August 2025)
27.356400000
Fund Size
Rs. 265 crore
Fund Manager
Sandeep Shirsat

Returns

Period	Value Fund (Returns in %)

Hybrid Funds

Balanced Fund

(SFIN:ULIF005161109BALANCEDFN143)

Medium Risk

Inception Date
25-Nov-09
NAV (14 August 2025)
40.362500000
Fund Size
Rs. 164 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 (14 August 2025)
22.245
Fund Size
Rs. 33 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 (14 August 2025)
35.670300000
Fund Size
Rs. 511 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 (14 August 2025)
43.063900000
Fund Size
Rs. 104 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 (14 August 2025)
36.613300000
Fund Size
Rs. 366 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 (14 August 2025)
9.289800000
Fund Size
Rs. 3 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 (14 August 2025)
41.384200000
Fund Size
Rs. 42 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 (14 August 2025)
56.088800000
Fund Size
Rs. 175 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 (14 August 2025)
15.046500000
Fund Size
Rs. 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 (14 August 2025)
14.209
Fund Size
Rs. 0.81 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 (14 August 2025)
27.082600000
Fund Size
Rs. 111 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 (14 August 2025)
10.193300000
Fund Size
Rs.13.38 Crores
Fund Manager
Viraj Nadkarni

Returns

Period	Multi Cap Equity Fund (Returns in %)

Large Cap Equity Fund

(SFIN:ULIF027060125LARGEQUFND143)

High Risk

Inception Date
6-Jan-25
NAV (14 August 2025)
10.505300000
Fund Size
Rs. 16.76 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 (14 August 2025)
16.849600000
Fund Size
Rs. 38.29 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 (14 August 2025)
49.782500000
Fund Size
Rs. 265 crore
Fund Manager
Viraj Nadkarni

Returns

Period	Value Fund (Returns in %)

Equity Advantage Fund

(SFIN:ULGF001240111EBPEQADFND143)

High Risk

Inception Date
4-Mar-11
NAV (14 August 2025)
50.100
Fund Size
Rs. 46 crore
Fund Manager
Viraj Nadkarni

Returns

Period	Equity Advantage Fund (Returns in %)

Equity Fund

(SFIN:ULIF001161109EQUITYFUND143)

High Risk

Inception Date
25-Nov-09
NAV (14 August 2025)
49.742000000
Fund Size
Rs. 316 crore
Fund Manager
Viraj Nadkarni

Returns

Period	Equity Fund (Returns in %)

Equity 1 Fund

(SFIN:ULIF009010910EQUTY1FUND143)

High Risk

Inception Date
15-Sep-10
NAV (14 August 2025)
45.829500000
Fund Size
Rs. 4871 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
Download

Other Equity Funds

How to Choose the Right ULIP?

Define Your Financial Goals

Identify your long-term goals, such as retirement savings, children’s education, or wealth accumulation. This clarity will help you decide on the level of returns and coverage you need.

Assess Risk Appetite

ULIPs offer equity, debt, and balanced funds. Choose a fund mix based on your risk tolerance and adjust over time as needed.

Evaluate Fund Performance

Compare past fund performance across ULIP providers; but remember that past performance doesn’t guarantee future results.

Consider Policy Charges

Review charges like premium allocation, fund management, and mortality fees, as these can impact returns over time.

Check Flexibility Options

Look for ULIPs with flexible options for premium payments, fund switches, and partial withdrawals. Flexibility is key for adapting your ULIP to life changes.

Understand Lock-in Period

ULIPs come with a five-year lock-in, which can be beneficial for long-term goals, but ensure you’re comfortable with this commitment.

Examine Tax Benefits

ULIPs offer tax benefits under Sections 80C and 10(10D), so choose a plan maximising your tax-saving potential.

Online ULIP calculators may also prove helpful when it comes to understanding plan customisations and premium costs. Also, keep in mind that, while an online ULIP calculator can help you get estimates for maturity benefits, the actual returns from the plan may change.

How to Choose the Right ULIP Sum Assured?

ULIP

Assess Your Life Stage and Financial Responsibilities

he sum assured should align with your financial obligations and dependents. Younger investors with few financial responsibilities might opt for a lower sum assured, with a focus on the investment component. However, if you have dependents such as children or ageing parents, or if you're the primary breadwinner, a higher sum assured is advisable to ensure they’re financially protected if anything happens to you.

Evaluate Current and Future Liabilities

Consider your current financial liabilities such as home loans, car loans, and other debts when deciding on a sum assured. You’ll want to select a coverage amount that would allow your family to settle these debts comfortably if needed. Take into account future financial commitments such as children’s education or marriage, which can be significant expenses. Your sum assured should be sufficient to cover these future needs, helping secure their future even in your absence.

Calculate on the Basis of Income

A common guideline is to choose a sum assured 10–15 times your annual income. It ensures your beneficiaries would have enough funds to manage their living expenses for several years without drastic lifestyle changes. This income multiplier rule helps cover immediate expenses and provides a buffer for loved ones to maintain their lifestyle.

Factor in Your Investment Goals

ULIPs provide a combination of insurance and investment. While the sum assured represents the insurance component, the investment component should also be part of your overall goal. For instance, if you’re looking at long-term wealth accumulation, you might lean toward a higher investment allocation with a moderate sum assured. However, if financial protection is the primary goal, prioritising a higher sum assured becomes essential. Striking the right balance is key to meeting both your protection and growth objectives.

Evaluate Your Risk Tolerance

While the sum assured doesn’t directly affect your risk tolerance, it plays into the overall policy premium and how much you can allocate to investment. A higher sum assured generally results in a higher premium. It might reduce the amount available for investment, depending on your budget. So, if you have a lower risk tolerance and prefer steady growth, balancing between a comfortable premium and a realistic sum assured is beneficial.

Consider Inflation

To maintain adequate financial support over time, consider the impact of inflation on your chosen sum assured. The cost of living increases every year, and a sum assured that may seem sufficient now may not hold the same value a decade later. Some ULIPs offer “enhanced sum assured” options allowing you to increase the sum assured periodically. This offers more comprehensive protection against inflationary impacts.

Review and Adjust Regularly

It’s important to review your ULIP policy and sum assured periodically to ensure it still meets your family’s needs as circumstances change. Life events such as marriage, childbirth, or increased liabilities, might necessitate an adjustment to your sum assured to keep your coverage in line with your evolving financial responsibilities.

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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Types of ULIP Fees And Charges

Premium Allocation Charges

This charge is deducted as a percentage of the premium, often at a higher rate during the initial policy years. It’s 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 your policy. These charges cover the insurer's cost for handling documentation, record maintenance, and other operational needs required to maintain your 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

ULIPs offer a feature allowing you to withdraw funds partially after a certain lock-in period. However, partial withdrawals can incur charges or penalties, which vary based on the insurance provider’s policy. This 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 is calculated based on factors such as age and the sum assured. For instance, a policyholder purchasing 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. These charges depend on the insurer’s fee structure and provide flexibility while maintaining cost control.

Rider Charges

Rider charges are additional costs that apply if you choose optional riders (add-ons) such as critical illness or accidental death benefits. These 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. These charges are deducted from the fund’s total value and serve as a penalty for early withdrawal. However, after the lock-in period, surrender charges are no longer applied, allowing you to access the full fund value without incurring additional costs.

Things to Remember Before Investing in ULIP

Risk Appetite

Determine your comfort with risk 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.

Tax Benefits

One of the most attractive features of ULIPs is their tax-saving potential. Premiums paid for ULIPs are eligible for deductions under Section 80C of the Income Tax Act, allowing tax savings up to ₹1.5 lakh annually. The maturity benefits and any partial withdrawals made after five years of the policy term are exempt from tax under Section 10(10D). This makes ULIPs an efficient tool for tax planning. This dual ULIP tax benefit is a significant advantage, as it allows you to grow your wealth while reducing tax liabilities.

Regular Savings

ULIPs encourage disciplined, regular savings, which are crucial for long-term wealth creation. By committing to regular premium payments, investors build a habit of saving consistently. This can translate into a steady accumulation of wealth over time. The dual nature of ULIPs ensures you’re not only saving but also investing, enabling you to create a financial corpus while ensuring life cover.

Potential for Growth

The investment component of ULIPs offers growth potential by enabling exposure to various asset classes. Equity-oriented ULIPs, for example, can offer substantial returns over the long term, making them ideal for investors looking to maximise their wealth creation. Since ULIPs are long-term investments, they also allow investors to benefit from compounding, significantly increasing potential returns over time. This combination of growth and compounding can lead to a substantial increase in the policy’s value, especially when investors stay invested for an extended period.

Protection

ULIPs include an insurance component, providing life cover along with investment growth. In the unfortunate event of the policyholder’s death, the beneficiaries receive a death benefit. The benefit may include the higher of the fund value or the sum assured. This ensures that, along with wealth accumulation, there is also a financial safety net for your family. The insurance aspect of ULIPs provides peace of mind, having policyholders know that their loved ones are financially protected.

Greater Rewards for Staying Invested

ULIPs encourage long-term investment by offering loyalty additions or “bonuses” for staying invested over time. These bonuses are typically added to the fund value and can significantly enhance the total return. By staying invested, policyholders can benefit from additional units being added, which increase the overall value of their investment without requiring extra contributions. This structure not only encourages long-term financial discipline but also rewards it.

How to Manage ULIP Funds?

They are generally managed by fund managers. This makes the plan much more hassle-free for policyholders as compared to a range of other investment options. The policyholder can choose from fund management strategies and fund options to ensure the growth of their investments aligns with their time-bound goals and their risk appetite.

When buying the policy, you can go through the policy document or consult an expert to understand the fund strategies and the expected results. It is important to review your fund decisions regularly so you may re-align them based on your priorities.

Glossary – Key ULIP Terms to Remember

Key ULIP Terms	Terms to Remember
Basic Insurance Terminology	Sum Assured: The guaranteed amount paid to beneficiaries in case of the policyholder’s death during the policy term. This forms the life cover aspect of ULIPs. Partial Withdrawal: After the lock-in period, ULIPs allow partial withdrawals from the policy’s fund value. This feature provides liquidity during emergencies while maintaining policy benefits. Lock-in Period: The minimum period (typically five years) during which policyholders cannot withdraw funds. This promotes long-term investment and financial discipline. Riders: Optional add-ons to a ULIP policy, such as critical illness or accidental death riders, which provide additional coverage for specific risks. Maturity Benefit: The value received by the policyholder at the end of the ULIP’s term, consisting of the accumulated fund value. Tax Benefits: ULIPs offer tax benefits under Section 80C on premium payments and Section 10(10D) on maturity proceeds, subject to conditions.
ULIP Specific terms	ULIP (Unit Linked Insurance Plan): A financial product combining insurance coverage with investment options, allowing policyholders to invest in various funds (e.g., equity, debt) while also providing life insurance protection. Fund Options: There are various types of Unit-linked Insurance Plans, such as equity (higher risk), debt (lower risk), and balanced funds. Investors can select on the basis of their risk tolerance and financial goals. Switching: The option to transfer investments from one fund type to another within a ULIP. Insurers typically allow a certain number of free switches each year, with additional switches incurring charges. NAV (Net Asset Value): The per-unit value of the ULIP’s fund, reflecting its current market value.
Charges Related	Premium Allocation Charge: A fee deducted from the premium paid, typically covering initial expenses such as administration and distribution. It reduces over time as the policy matures. Mortality Charge: A fee charged to cover the life insurance component of the ULIP. It’s based on factors such as age, health, and the sum assured amount. Fund Management Charge: The annual fee levied by fund managers for managing the policy’s investments. It’s a percentage of the fund value and varies depending on the fund type. Policy Administration Charge: A monthly charge deducted by the insurer for handling and maintaining the ULIP policy records. Surrender Charge: A fee applied if the policyholder chooses to discontinue the ULIP before the lock-in period ends, reducing the total fund value.

Key ULIP Terms

Terms to Remember

Basic Insurance Terminology

Sum Assured:
The guaranteed amount paid to beneficiaries in case of the policyholder’s death during the policy term. This forms the life cover aspect of ULIPs.

Partial Withdrawal:
After the lock-in period, ULIPs allow partial withdrawals from the policy’s fund value. This feature provides liquidity during emergencies while maintaining policy benefits.

Lock-in Period:
The minimum period (typically five years) during which policyholders cannot withdraw funds. This promotes long-term investment and financial discipline.

Riders:
Optional add-ons to a ULIP policy, such as critical illness or accidental death riders, which provide additional coverage for specific risks.

Maturity Benefit:
The value received by the policyholder at the end of the ULIP’s term, consisting of the accumulated fund value.

Tax Benefits:
ULIPs offer tax benefits under Section 80C on premium payments and Section 10(10D) on maturity proceeds, subject to conditions.

ULIP Specific terms

ULIP (Unit Linked Insurance Plan):
A financial product combining insurance coverage with investment options, allowing policyholders to invest in various funds (e.g., equity, debt) while also providing life insurance protection.

Fund Options:
There are various types of Unit-linked Insurance Plans, such as equity (higher risk), debt (lower risk), and balanced funds. Investors can select on the basis of their risk tolerance and financial goals.

Switching:
The option to transfer investments from one fund type to another within a ULIP. Insurers typically allow a certain number of free switches each year, with additional switches incurring charges.

NAV (Net Asset Value):
The per-unit value of the ULIP’s fund, reflecting its current market value.

Charges Related

Premium Allocation Charge:
A fee deducted from the premium paid, typically covering initial expenses such as administration and distribution. It reduces over time as the policy matures.

Mortality Charge:
A fee charged to cover the life insurance component of the ULIP. It’s based on factors such as age, health, and the sum assured amount.

Fund Management Charge:
The annual fee levied by fund managers for managing the policy’s investments. It’s a percentage of the fund value and varies depending on the fund type.

Policy Administration Charge:
A monthly charge deducted by the insurer for handling and maintaining the ULIP policy records.

Surrender Charge:
A fee applied if the policyholder chooses to discontinue the ULIP before the lock-in period ends, reducing the total fund value.

Common ULIP Myths Demystified

ULIPs Are Expensive

In the past, ULIPs carried higher charges, particularly before 2008. However, the Insurance Regulatory and Development Authority of India (IRDAI) has since mandated reforms, significantly reducing ULIP costs. Today, these plans are much more cost-effective, making them accessible and attractive to a broader range of investors.

ULIPs Are Risky Investments

Many believe ULIPs are inherently risky. However, ULIPs allow investors to choose funds based on individual risk tolerance. Options range from conservative debt and liquid funds for low-risk profiles to equity funds for moderate to high-risk investors. By carefully selecting funds matching personal risk levels, ULIPs offer a balanced approach to investment.

ULIPs Have a 3-Year Lock-In Period

Previously, ULIPs had a lock-in period of three years, but this was changed by the IRDAI in 2010. The lock-in period was extended to five years to promote long-term investment, which offers better growth potential and stability. This five-year period also encourages financial discipline, providing more time for fund growth and compounding.

ULIPs Lack Flexibility

ULIPs are often thought to be inflexible. In reality, ULIPs provide significant flexibility, allowing policyholders to switch funds based on changing risk appetites or market conditions. Most ULIPs also permit partial withdrawals after the lock-in period. This enables access to funds in times of need without affecting the overall policy benefits.

ULIPs Are Not a Good Investment Option

Some believe ULIPs aren’t ideal for investment. However, ULIPs are structured to meet both insurance and investment needs, offering life cover alongside a diverse investment portfolio. This makes them a unique financial tool combining protection and growth, especially for individuals seeking long-term wealth creation with insurance security.

ULIPs Yield Low Returns

ULIPs, when managed well, can deliver competitive returns. With fund options across various asset classes, including equities, debt, and balanced funds, ULIPs have the potential to achieve high returns, particularly for long-term goals. Their growth depends largely on fund choice and market performance, so investors with a thoughtful approach can see substantial returns.

ULIPs Are Restrictive

Some believe once they commit to a ULIP, they’re locked in without options. While the lock-in period is five years, investors aren’t completely tied down. If an investor wants to exit after the lock-in, they can do so without penalties. Exiting during the lock-in does incur surrender charges, but after lock-in, there’s full flexibility to withdraw without extra costs.

ULIPs Don’t Offer Health or Accident Coverage

This misconception suggests ULIPs lack additional benefits beyond investment and life cover. In fact, ULIPs offer optional riders such as critical illness cover, accidental death benefits, and premium waivers. These riders enhance protection, allowing policyholders to customise their plan for added security.

ULIP plan FAQs

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General

Premiums and Payments

Returns Related

Claims and Withdrawals

What is the difference between ULIP and SIP?

Answer: ULIPs combine insurance and investment, providing 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: 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.

What is NAV in ULIPs?

Answer: The NAV (Net Asset Value) in ULIP represents the per-unit value of the fund, calculated based on the market value of underlying assets. It helps track investment growth.

Is GST applicable on ULIPs?

Answer: Yes, GST is applied to the premium paid for ULIPs, including various charges such as mortality and fund management fees.

What is the right time to invest in ULIPs?

Answer: Investing in ULIPs early in your career or financial journey allows more time for the funds to grow, providing both life cover and long-term wealth accumulation.

Is ULIP tax-free on maturity?

Answer: Yes, ULIPs offer tax-free maturity proceeds under Section 10(10D) if conditions, such as the premium being within limits of the sum assured, are met.

What is fund value in ULIP?

Answer: 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: Yes, 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, or Assets Under Management, represents 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 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.

What are the charges in ULIP?

Answer: ULIP charges include premium allocation, fund management, policy administration, and mortality charges.

Can we purchase a ULIP with only a single payment?

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

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

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

Are investment returns guaranteed in a ULIP?

Answer: No, ULIPs do not guarantee returns, as the investments are market-linked. Returns depend on fund type and market performance, so there’s potential for growth but with risk exposure.

Is ULIP a risky investment?

Answer: ULIPs carry risk as they are market-linked. The risk level depends on the chosen fund — debt funds are lower risk, while equity funds are higher risk.

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 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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ULIP – Unit-Linked Insurance Plan

What are Unit-Linked Insurance Plans?

Why Invest in ULIPs?

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 ULIPs to create a structured legacy plan, smoothly transferring wealth to future generations.

Explore IndiaFirst Life ULIP Plans

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Benefits of ULIPs

Flexibility of Investment

Tax Benefits

Regular Savings

Potential for Growth

Protection

Greater Rewards for Staying Invested

How Does a ULIP Work?

Types of ULIP Funds

Equity Funds

Debt Funds

Balanced or Hybrid Funds

Liquid Funds

Cash Funds or Money Market Funds

Growth Funds

ULIP Fund Performance

Returns

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How to Choose the Right ULIP?

Assess Risk Appetite

Evaluate Fund Performance

Check Flexibility Options

Understand Lock-in Period

How to Choose the Right ULIP Sum Assured?

ULIP

Assess Your Life Stage and Financial Responsibilities

Evaluate Current and Future Liabilities

Calculate on the Basis of Income

Sum Assured:
The guaranteed amount paid to beneficiaries in case of the policyholder’s death during the policy term. This forms the life cover aspect of ULIPs.

Partial Withdrawal:
After the lock-in period, ULIPs allow partial withdrawals from the policy’s fund value. This feature provides liquidity during emergencies while maintaining policy benefits.

Lock-in Period:
The minimum period (typically five years) during which policyholders cannot withdraw funds. This promotes long-term investment and financial discipline.

Riders:
Optional add-ons to a ULIP policy, such as critical illness or accidental death riders, which provide additional coverage for specific risks.

Maturity Benefit:
The value received by the policyholder at the end of the ULIP’s term, consisting of the accumulated fund value.

Tax Benefits:
ULIPs offer tax benefits under Section 80C on premium payments and Section 10(10D) on maturity proceeds, subject to conditions.

ULIP (Unit Linked Insurance Plan):
A financial product combining insurance coverage with investment options, allowing policyholders to invest in various funds (e.g., equity, debt) while also providing life insurance protection.

Fund Options:
There are various types of Unit-linked Insurance Plans, such as equity (higher risk), debt (lower risk), and balanced funds. Investors can select on the basis of their risk tolerance and financial goals.

Switching:
The option to transfer investments from one fund type to another within a ULIP. Insurers typically allow a certain number of free switches each year, with additional switches incurring charges.

NAV (Net Asset Value):
The per-unit value of the ULIP’s fund, reflecting its current market value.

Premium Allocation Charge:
A fee deducted from the premium paid, typically covering initial expenses such as administration and distribution. It reduces over time as the policy matures.

Mortality Charge:
A fee charged to cover the life insurance component of the ULIP. It’s based on factors such as age, health, and the sum assured amount.

Fund Management Charge:
The annual fee levied by fund managers for managing the policy’s investments. It’s a percentage of the fund value and varies depending on the fund type.

Policy Administration Charge:
A monthly charge deducted by the insurer for handling and maintaining the ULIP policy records.

Surrender Charge:
A fee applied if the policyholder chooses to discontinue the ULIP before the lock-in period ends, reducing the total fund value.