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ULIPs

A portion of your premium goes towards providing life insurance cover, while the rest is invested in various equity and debt instruments, helping you build wealth over time.

01.

Dual Benefits of Insurance and Investment:

ULIPs offer the combined advantage of life insurance coverage and investment opportunities. A portion of your premium goes towards providing life insurance cover, while the rest is invested in various equity and debt instruments, helping you build wealth over time.

02.

Flexibility in Investment Options

ULIPs provide the flexibility to choose from a range of investment funds based on your risk appetite and financial goals. You can switch between equity, debt, or balanced funds as per your changing risk profile and market conditions, usually with a limited number of free switches per year.

03.

Tax Benefits:

Premiums paid towards ULIPs are eligible for tax deductions under Section 80C of the Income Tax Act, up to a limit of ₹1.5 lakh per financial year in India. Additionally, the maturity proceeds are tax-free under Section 10(10D), provided certain conditions are met, making ULIPs a tax-efficient investment.

04.

Long-Term Investment Growth:

ULIPs are designed to be long-term investment vehicles, typically with a lock-in period of 5 years. This encourages disciplined savings and helps in wealth accumulation over the long term. The power of compounding can significantly enhance your investment returns over time.

05.

Partial Withdrawals:

ULIPs offer the flexibility of partial withdrawals after the completion of the lock-in period. This feature allows you to access your funds in case of emergencies or financial needs without having to surrender the policy entirely.

06.

Rider Options for Enhanced Protection:

ULIPs provide options to add riders for enhanced protection, such as critical illness cover, accidental death and disability cover, and waiver of premium. These additional covers can provide comprehensive financial protection against various risks and uncertainties.