ULIP Plans
A Unit Linked Insurance Plan (ULIP) bundles two things into one premium: a life cover component and an investment component. After deducting charges, the remainder of your premium buys units in funds you choose — typically a mix of equity, debt, or balanced options — so the investment portion's value rises and falls with the market.
ULIPs carry a mandatory 5-year lock-in and typically involve more charges (premium allocation, fund management, mortality) than a pure investment product like a mutual fund, so it's worth comparing the combined cost against buying term insurance and investing separately. The upside is a single product that handles both goals, with the option to switch between fund types over time as your risk appetite changes.
Who this is typically for
Insurance is the subject matter of solicitation. Benefits, exclusions, and payouts are subject to the terms and conditions of the specific policy — we'll walk you through the exact wording before you sign anything. The investment portion of a ULIP is market-linked and not guaranteed.