Unit Linked Insurance Plans (ULIP) were making the headlines ever since the budget 2018 re-introduced long term capital gain tax on the equity investments. Best 3 ULIP investment plans that offer great returns to the investors.
Meanwhile, IRDA carried out a set of instructions that further removed the drawbacks that nearly drove ULIP towards the extinction.
HDFC Click 2 Invest -ULIP
There was a time when ULIP plan garnered a bad reputation owing to the high commission charges for its products, but HDFC took the stand and reformed and presented the second generation ULIP plan that offered the investors several benefits like
- Low administration and premium allocation charges.
- Bonus features like return on mortality charges, additional allocation by the company and loyalty addition, which is in contrast to the earlier time, when the companies used to charge 100% if the first year premium as premium allocation charges.
- More than 8 fund options available.
- Plan and payment options are flexible.
Bajaj Allianz Fortune Gain
Bajaj Allianz ULIP are innovative in nature and offer several benefits like:
- A single premium provision when the payment is made at the beginning of the plan.
- Loyalty addition of 3%
- Lump sum value can be withdrawn when the policy matures.
- Partial withdrawals can be made after the period of 5 years.
- Systematic switching is also allowed when the fund payment is directly transferred to the bank account.
- Income Tax Benefits are also available.
ICICI Pru LifeTime Classic
ICICI Prudential ULIP offer complete financial cover to your near and dear ones and gives you an immense potential to generate wealth and save for the future time period. This plan offers the investors 4 strategies that can be selected on basis of personal investment requirements. There are several benefits of investing in this ULIP plan
- You are allowed to invest in 6 equity funds, 3 debt funds and 2 balanced funds
- On the death of the policy holder, the nominee will get life insurance cover and amount at the prevailing fund value
- Tax Protection
- Loyalty addition and wealth boosters are available for the investors to remain invested
- There are four free switches available
- You can easily increase the investment plan by using top-up facility
- Flexible payment options are available in this plan
IRDA initiatives and above examples prove that ULIP insurance cum investment plan has become more innovative and offers various incentives to stay invested as compared to the past when ULIPs were mis-sold.
Disclaimer: Financeminutes.com does not endorse any investment plan through this article. This is author’s personal opinion and readers are advised to perform their research before investing