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ULIP Calculator

A combined plan which involves insurance plus investment both is called ULIP that is Unit Linked Investment Plan. In this hybrid plan, the premium is divided into two parts out of which one goes to life cover insurance plan and remaining is invested in an investment plan for securing future wealth.

ULIP plans are preferred mainly for long-term goals such as retirement, child education, home planning, and entity construction. The main considerations while making an investment for securing your savings and earnings at the right place are cost and returns. ULIP calculator makes it easy for a person to sieve through all the available investment plans and select the best one out.

As mentioned earlier, the ULIP calculator is an exclusive tool to bring ease in calculating the premium amount and ULIP returns. It helps the investors in calculating the maturity amount according to their planned future investment value and returns. So many financial websites are there in the market which offers the facility of ULIP calculator.

The ULIP calculator calculates the return of a particular ULIP plan on the basis of the premium amount and the policy tenure. There are a few ULIP calculators which provide the facility of comparing different ULIP plans while considering the return and zero in on the best plan. An individual can pick the best ULIP plan that provides maximum return on investment by using the ULIP calculator.

How ULIP Calculator Helps

ULIP plans are the first choice for investors who are seeking a secure investment plan to invest their money to get profitable returns. ULIP plans are created to offer twofold benefits of insurance plan plus investment plan. ULIP is the best financial tool to receive tax benefits and comprehensive life along with lucrative returns. In between abundance of ULIP plans in the market, it becomes challenging for even frequent investors to decide their investment in the best ULIP plan to get bestowed with best returns.

After knowing the profusion of ULIP plans in the market the concept of ULIP calculator comes to rescue investors from the situation of indecision. The investors can compute the amount they are investing in a ULIP plan to attain their long-term and short-term financial aims by using the ULIP calculator.

A ULIP calculator helps likely investors to calculate the returns of the investment after the completion of the tenure period of the ULIP investment plan. Using the ULIP calculator the investors can swiftly calculate the investment amount on the basis of their future financial aims and suitability.

How ULIP Calculator Works

Before making an investment in a ULIP plan one wants to know and understand the rate of return he/she will get after the investment on their investment plan. We are aware that ULIP calculator makes it convenient to calculate the return but the question is how? There are so many doubts which surround an investor about ULIP calculator and its working. It is important for a person to know how to use a ULIP calculator for calculating the benefits and comparing available ULIP plans. To calculate the return on a ULIP investment plan an investor needs to fill up a few basic personal details like their name, date of birth, smoker or non-smoker.

There are a few important aspects which an investor must keep in mind while making use of the ULIP calculator and enter exact details, which are:

  • Frequency of premium payment
  • Premium amount they wish to invest
  • Types of fund
  • Rate of return
  • Investment duration

Considering the above-mentioned factors one can precisely and easily calculate the value of the rate of return on their investment plan using the online ULIP calculator.

It is important to note that the calculations done by ULIP calculator about the rate of return on an investment plan are only based on certain assumptions. So, make sure to read out all the policy instructions of your planned ULIP plan prior to investing any amount.

Procedure to Use ULIP Calculator

Although using a ULIP calculator does not require any complex calculation but it is beneficial to understand the stepwise procedure to use ULIP calculator. A prior guide about the calculation process will help neophyte and frequent investors both.

Step 1 - Firstly, an investor must make sure to use a free online ULIP calculator service provided by a trustworthy source. Any bogus or fraud website can lead you to trouble. Enter your basic personal details like name, DOB and whether he is a smoker or not and login to the ULIP calculator.

Step 2 - After entering the basic information, enter the amount you wish to invest in ULIP plan. The investment amount is termed as the premium amount and an investor should decide the premium amount according to his suitability. Entering and investing a genuine premium amount that one can easily pay on time throughout the tenure period of the ULIP plan is of great consideration. One must choose the premium amount according to his financial condition and obligations so that he can conveniently payout the premium on time. The minimum premium amount one can choose to invest in a ULIP plan is RS 1500.

Step 3 - In the next step, an investor is required to select and enter the frequency of the premium amount. Selection of the frequency of the premium amount should be made on the basis of your financial stability and suitability. The frequency of premium amount can be chosen from the given options of either one-time payment, lump-sum payment, single payment or annual payment, quarterly payment, monthly payment. The selection should be on the grounds of financial condition and terms & conditions of the ULIP plan.

Step 4 - The next step includes the decision of the term period of the ULIP plan. You need to precisely mull over the time duration for which you are willing to be invested in a ULIP investment. Always do a precise analysis for the tenure period and then fill up the information. Tenure period should be decided on the basis of your future financial objectives and specific terms of your ULIP plan.

Step 5 - After deciding the premium and tenure of the policy, now you need to subtract all the specified applicable charges form the premium amount. Then after the investor needs to decide the fraction of investment amount which he wants to invest in the insurance and the investment amount which he wants to put in an investment fund.

Step 6 - Then comes the selection of the lock-in period of the investment plan. ULIP plans provide a lock-in period of a minimum of 5 years, which indicates that you have to at least be in a lock-in period of 5 years. Although one must always keep in mind while entering a lock-in period that financial experts say that the longer the lock-in period more will be the return profit in a ULIP plan.

Step 7 - In the last step, you need to opt for an investment fund plan where you want to invest your hard-earned money. According to their choice, one can invest in either stake/equity instruments or debt funds or in combination of both the instruments. This is a very crucial step as it can either lead you to profit or loss of investment plan. Experts advise that selecting an investment should be done on the basis of its past market performance. It is advisable to the investors vigilantly understand the market performance of the funds and opt for an investment fund which has shown notable performance in the market in the past 3 years.

After duly filling up all the important information correctly now an investor have to fill in the details like gender, date of birth if they are a smoker or not to complete the exact investment calculation.

Once completing all the details all you need to do is click on the option of ‘calculated estimated returns’. ULIP calculator will complete the calculation of the rate of return you will generate for your ULIP plan according to the entered details.

The mentioned stepwise procedure must have made you understand the complete ULIP calculator process. It is an easy and convenient procedure to calculate the money you will generate on your plan as rate of return. ULIP calculator facility is freely available by many trustworthy websites and anyone can easily find this in a few clicks. Almost all the reputed insurance companies provide the facility of free online ULIP calculator.

The free to use ULIP calculator is a great friend to the investors. The investors can understand what premium amount they should invest to attain their future financial goals and wealth creation. Whether it is planning for generating a financial corpus or planning your retirement life or future planning of your children’s career, the ULIP plan calculation helps you. Investors can check the different plans by changing the entered variables and make a proper comparison. The ULIP calculator will also take into consideration the rate of inflation while calculating the return.

Important Features of ULIP Calculator

ULIP calculator includes various features to help investors calculating the precise rate of return on their ULIP plan. Online ULIP calculators are loaded with various features to guide investors through their corpus creation, tax benefits and to get a secured future their loved ones. A brief smattering of the salient features of the ULIP calculator is important for you to understand.

  • Throughout Transparency - The best feature of online ULIP calculator is its transparent services. The ULIP calculators, unlike most of the investment product features, provide a transparent and comprehensive details of an investment fund. Transparency is the standout feature of the ULIP calculator. It accurately shows the generated return an investor will get on a particular investment plan.
  • Financial Planning - The first thing which is taken into account while calculating the investment return is realising your financial objectives. On the basis of financial objectives, an investor can judge how much they should invest in an investment fund. ULIP calculator helps you interpret the best-suited investment plan for you which can easily meet your financial specifications and can generate maximum returns on investment plan.
  • Maximum Flexibility - Online ULIP calculators are free to use and hold a feature of flexibility which implies that investor can change the investment amount and premium amount according to the duration of investment policy. This will help the investor in understanding and comparing different ULIP plans based on their premium amount. Also, you can understand how the rate of return will fluctuate for every different tenure period, investment fund, and a fraction of the investment amount.
  • Handover Complete Control - The ULIP calculator works under the full control of the investor who is using this tool. An investor can change various variable according to his requirement and check the return. This feature of ULIP calculator let the investors check all the investment plans and the likely return on them to help them select one according to their suitability, budget and requirements.
  • Secure Investment - As ULIP calculator allows investors to compare and check all the available plans according to their requirement, an investor can easily calculate the investment amount. After analysing it becomes convenient to safely invest the money in an investment fund which is best suited for one’s needs.

Benefits of a ULIP Calculator

ULIP calculator is loaded with a number of benefits for investors. These benefits will help them in a secure and safe investment of their money. The following are the few main benefits of ULIP calculator.

  • The first thing is that ULIP calculator is online free of cost facility which let you compare can calculate the rate of return of various investment plans
  • It is simple yet easy to locate tool which is available on various insurance company’s website
  • ULIP calculator completes the complex calculations in a few easy steps to help investors generate an evaluated result and choose the right investment plan according to his requisites
  • ULIP calculator helps investors choose their investment plan strategically after making all the possible comparisons
  • It makes the investment easy for both seasoned investors and novice investors
  • Investors are just required to enter correct details and they can calculate a secure and safe investment amount which they can invest in a particular investment plan of their choice
  • It has all the easy to use important features and is a user-friendly interface
  • An investor can also analyse and select the fund option for their investment.

Top ULIP Plans Available

These are the top ULIP plans available in the market.

ULIP PLAN NAME ENTRY AGE MINIMUM PREMIUM
HDFC Life Click2Invest 0 to 65 years RS 1000 to 24,000
Bajaj Allianz Future Gain 1 year to 60 years RS 2500 to 25,000
Aegon iMaximize 18 years to 50 years Rs 24,000 to 36,000
PNB Metlife Smart Platinum 7 years to 70 years RS 30,000 to 60,000
ICIC Prudential Lifetime Classic 0 to 65 years RS 30,000 to 50,000
Max Life Fast Track Growth Fund 18yrs to 50 years RS 25,000 to 1,00,000
Bharti Axa eFutureinvest 18 years to 60 years RS 18,000 to 25,000
Aviva igrowth 18 years to 50 years RS 18,000 to 35,000
SBI Life eWallet 18 years to 50 years RS 1000 to 24,000
Tata AIG Life Invest Assure II - Balanced Fund 4 years to 55 years RS 75,000 to 1,20,000

Charges Included in ULIP Plan Calculation

The premium amount of a ULIP investment plan includes so many components. Out of all the components associated with the ULIP premium amount some are the charges on the ULIP plan. The charges included in the unit-linked investment plan are given below.

  • Discontinuation Charge - If an investor wishes to back out from the investment plan before the completion of the lock-in period he/she will be responsible for paying the discontinuation charges.
  • Mortality Charges - The mortality or death charges are also imposed in lieu of insurance part of ULIP plan. The death charges can vary according to the age, and lifestyle habits of policyholder.
  • Surrender Charges - If the investor wants to withdraw the policy before maturity then the cessation charges will be imposed at that time.
  • Fund Management Charges - This charge will be levied for managing the funds of an investor. The fund management charges will be a specific percentage of the benefits received from the investment plan. This charges will be calculated and paid by the insurer before estimating the NAV (Net Asset Value) of the funds.
  • You need to understand what is the NAV of a ULIP plan. NAV can be defined as the exact value of the assets of funds after subtracting the debts per unit. There is a formula method to calculate the NAV of a ULIP plan, which is:
  • Net Asset Value (NAV) = (Asset’s gross value - the value of liabilities) / (Number of Outstanding Units)
  • Policy Administration Charges - This charges will be imposed by the insurance company to recuperate the money paid by the company for the maintenance of the ULIP plan. All the expenses which are related to the policy documentation, paperwork, premium suggestions and premium reminders, etc. are included in policy administration charges.
  • Premium Allocation Charges - Premium allocation charges are one time imposed charges on the ULIP plan. These charges are levied to remunerate the expenses incurred at the time of policy issuance. The charges of cost of underwriting and commission charges of an agent are included in this.
  • Fund Switching Charges - An investor can change the fund charges in between the tenure period of the policy. ULIP plans are flexible when it comes to choosing a coveted fund amount and an investor wants to switch between the available fund options. These charges are levied when an investor switches the fund option.