Compare & Buy Best ULIP Plan

  • Take advantage of an insurance cover and investment with the best ULIPs in India.
  • Get best Ulips from the top companies like HDFC Life, Kotak Life, Birla Sun Life etc.
  • Why compare: with the help of free comparison service you can get the best ULIP at affordable cost. You will get a trustworthy ULIPs provider and several additional benefits.
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What is Ulip?

Ulip is basically a life insurance product that offers risk cover to the insured along with the benefits of investments as well. It offers you the insurance coverage and allows you to invest a part of your premium in qualified investment options that includes stocks, bonds, mutual funds and much more. It is basically an integrated plan in which the investment and protection part will be managed as per particular needs and choices.

How Does It Work?

The premium which you pay for your unit linked insurance plan is used for building wealth and provides insurance coverage as well. In the starting years of the plan, a large amount of the premium is used for the plan expenses. Later on, the premium is divided into two different segments- investment and insurance.
Units are issued for the amount invested in a fund of your choice; it can be debt, equity or a combination of both. The allocation of the units relies on the performance of the original fund. In the initial 2 to 3 plan years, because of the deduction of high expenses, the value of the fund would stay low.

Types of Ulip Plans in India

It is usually classified on the basis of purpose


ULIP for Retirement

Under this plan you have to make the payment fo a specific period of time with your employer that is automatically collected as a corpus amount. As an insured, you will get it in the form of annuities after your retirement.

ULIPs for Wealth Collection

it accumulates your wealth for a specific period of time. This is best suited for those people who are in their late twenties and early thirties. By investing in this plan, they will get the flexibility to fund their financial goal.

ULIP for Child Education

There is no doubt in saying that as a parent you want to secure your child and his/her future from an unforeseen event that can ruin their career. In such cases, choose a Ulip for your child that can help them in different stages of their life.

ULIPs for Health Benefits

Apart from common benefits, it also provides financial assistance in cases of medical emergency.

How To Choose Unit Linked Insurance Plan?

PolicyX.com is one of the leading insurance web aggregators that provide free quotes and comparison services. Ulip- unit linked insurance plan is basically a market linked product which combines the finest on insurance and investment. It is a type of investment plan which directly connects to the capital market and provides ease of investing in debt or equity funds as per the requirement. The dual benefit of the plan makes it more attractive as a perfect investment option. Ulip is a very good long-term investment plan.

In 2010, IRDA limited analyzed charges of ULIP plans at 2.25% for the initial 10 years of plan tenure. However, currently many insurers have reduced the additional charges such as commissions etc. Consequently, in recent years, ULIP plans are becoming cheaper as compared to mutual funds. It is advisable to opt for it if you are looking for dual benefits

Here at PolicyX.com, we help you compare the best ULIP plans provided by different insurers in India and assist you in getting the best plan as per your requirement. Ulip is suitable for young people who are ready to invest and take the financial risks. By comparing Ulips at PolicyX.com, you can select from a host of available plans.

Advantages of ULIP

  • Insurance coverage: It offers you the needful insurance coverage that can assist you financially when you need it the most. It is a type of plan that protects you and offers great returns as well.
  • Tax Benefits under Section 80C: By the rule of Income Tax act, this plan is eligible to get the tax benefits under SEC 80 C. It is completely a win-win situation that saves tax, offers coverage and good returns as well.
  • Choice of Systematic Investment: Apart from the insurance coverage it is also good at systematic investment planning. It allows you to choose your investment and get good benefits in return.
  • Market Linked Return: it allows you to earn market-linked returns as part of the premium is invested in market linked funds that are invested in different forms of investment tools.
  • Flexibility to choose the investment options as per your risk profile: It does not force you into investing as it provides complete freedom to choose your investment option as per your risk profile.

Cost Involved

  • Premium allocation charges: This is the amount which would be deducted from the premium for marketing and distribution expenses. This would be higher in the starting years and later on would be reduced by the third or fourth year.
  • Management charges: This would be deducted monthly as the administration costs.
  • Mortality Charges: This would be used for providing life insurance coverage. It depends on upon the mortality of the policyholder.
  • Fund Management Charges: This is used as the managing cost related to funding organizing and is usually in the range of 0.5% to 2%.
  • Switching Charges: One can switch between the funds available for investment of premium paid. Fixed numbers of switches are free of cost in a policy year beyond which charges are levied.
  • Surrender charges: It may be deducted for early partial or full encashment of units wherever applicable, as per the policy conditions.

Documents Required

By purchasing through PolicyX.com, you don't need to provide many documents. It is a simple documentation process that takes only a few minutes. This portal allows you to get insured from the comfort of your home. It saves a lot of your time and money as well. These are the basic documents that you need to provide at the time of purchase.

  • Age proof: Birth Certificate, 10th or 12th mark sheet, Driving License, Passport, Voter ID, etc.(Anyone)
  • Identity proof: Driving License, Passport, Voter ID, PAN Card, Aadhar Card, which proves one’s citizenship
  • Address proof: Electricity Bill, Telephone Bill, Ration Card, Driving License, Passport, should clearly mention the permanent address
  • Income Proof: Income Proof specifying the income of the person buying the insurance
  • Passport Size Photo: To have a record of the insured person's identity for future references.

How to Buy?

PolicyX.com allows you to purchase the best Ulip plan out of all the available options from the top insurance companies. With the available free quotes, you can save your time and money as well. For taking advantage of the same all you need to do is provide some basic details, get free quotes, compare them as per your demands, make payment online along with documents and you are insured under the best plan.

  • Enter basic details: Fill up your basic details. It just takes few minutes
  • Get quotes: Find quotes directly from multiple insurers
  • Compare Plan: Compare plans from the top insurance companies in less than 30 seconds
  • Choose Plan: Choose the plan which suits you
  • Buy Online: Buy your policy online easily and be insured within minutes.

Reasons to choose PolicyX.com

It is an IRDA approved online insurance web aggregator that allows you to choose the best plan for yourself. It allows you to understand the plan thoroughly with the help of useful information, flow charts and videos as well. We at PolicyX.com try to make the whole process easier for you so you can choose the best plan for yourself easily, and without any second thought.

  • Offers free Ulip quotes and comparison service as well.
  • Provide tax benefits and several discounts to save your money.
  • Allows you to purchase easily within a few minutes without much documentation and wastage of money.