Unit Linked Insurance Plans, or ULIPs for short, are flexible financial products with two uses: investing and insurance. They provide policyholders with the opportunity to invest in a range of funds in addition to life insurance. Because of their design, which combines the advantages of investing and insurance, Best ULIP plans are a popular option for many people looking to build wealth and secure their financial future.
List of Best ULIP Plans of 2023
| Name of the Best ULIP Plans | Minimum Yearly Premium |
| Aegon Life iMaximize Plan | ₹24,000 |
| LIC Endowment Plus Plan | ₹20,000 |
| Bajaj Allianz Future Gain Plan | ₹25,000 |
| HDFC Life ProGrowth Plus | ₹24,000 |
| Aditya Birla Sun Life Insurance Wealth Assure Plus | ₹24,000 |
| SBI Life Smart Wealth Assure | ₹50,000 |
| ICICI Pru Signature | ₹30,000 |
| PNB Metlife Smart Platinum | ₹30,000 |
| Future Pension Advantage Plan- Future Pension Active | ₹15,000 |
| Kotak Single Invest Plus Plan | ₹3,00,000* |
Factors to Consider Before Investing in Best ULIP Plans
- Policy Expenses: The policy fees ought to be as reasonable as feasible, and the company ought to be transparent about all other fees.
- Maximum Premium: This is yet another essential component that helps policyholders select the ULIP Plans that best meet their needs.
- Rider Availability: Many ULIP Plans include optional riders, like a premium waiver or an unintentional disability rider, to expand the coverage beyond life insurance and wealth creation.
- Additional Advantages: It will be helpful for you to keep an eye out for benefits like wealth boosters and guaranteed benefits, as they significantly raise the fund’s value.
How to Invest in Best ULIP Plans?
- Examine the various ULIP products available and create a shortlist of them based on their features, benefits, and individual investing objectives.
- Examine the shortlisted plans’ advantages and potential returns with great care.
- Select a plan that aligns with your investment strategies and risk tolerance.
- Contact the issuing company directly if you would like more information about ULIP ULIP plans. From their app or website, you can quickly find their office address or customer service number.
- For advice, you can also speak with financial specialists. If and only if you are totally satisfied, buy a plan.
Best ULIP Plans of India: An Overview
LIC Endowment Plus Plan
The LIC Endowment Plus Plan from is a non-participating endowment guarantee plan and a unit-linked participating policy. This plan, which combines investment and insurance for the duration of the policy term, offers an excellent combination of savings and safety.
Policyholders of LIC’s New Endowment Plus policy have ample options when it comes to allocating their funds, as the policy offers four distinct investment types. Following the payment of the premium and the deduction of the premium allocation fees, the fund category can be selected.
HDFC Life ProGrowth Plus
A unit-linked insurance policy with a regular premium is HDFC Life ProGrowth Plus. For this plan(s), you can choose the regular premium and the investment fund. Then, we will invest your regular premium—less the premium allocation charges—in the fund or funds of your choosing, to the extent that you designate. After the policy’s term(s), you will receive the fund’s entire accumulated value. HDFC Life ProGrowth Plus premiums are invested in the stock market, which offers benefits to insurance coverage along with great returns.
HDFC Life Click 2 Wealth Plan
In today’s fast-paced world, it is practically necessary to invest in sound plans that yield consistent returns while accumulating a financial reserve. The HDFC Life Click 2 Wealth policy is a Unit-Linked Non-Participating Life Assurance Plan that offers this kind of financial security to the policyholder and their family.
The Life Insurance Plan provides three distinct plan options: Golden Years Benefit, which provides life insurance coverage until age 99; Invest Plus, a traditional option for accumulating wealth; and Premium Waiver, in which the insurer pays future premiums in the event that the Premium Payor—who is not the Life Assured—dies.
SBI Life Smart Wealth Assure
Through participation in capital markets, SBI Life Smart Wealth Assure is a non-participating unit-linked plan that boosts savings and builds a corpus that is sufficient for future needs. For the length of the policy, the policyholder only needs to pay the premium once to benefit from this plan’s benefits. Additionally, the plan may select a combination of two funds that offer Market Linked Benefits—the Equity Fund and the Bond Fund—in order to ensure that the policyholder receives the best ULIP returns available.
Policyholders only have to pay the premium once during the policy’s term in order to start receiving benefits. Funds can be partially withheld, giving policyholders access to liquidity. To further personalize the policy, this plan also provides the opportunity to add an Accidental Death Benefit.
ICICI Pru Signature
For savings and collateral protection, consider the ICICI Pru Signature ULIP plans. In addition to providing life insurance to the insured’s surviving family members, the plan offers a range of flexible investment options to help the insured reach their goals.
Additionally, depending on his investment requirements, the insured with ICICI Pru Life Signature Insurance can choose from four portfolio strategies and a variety of funds across equity, debt, and balanced funds. Furthermore, the policy’s Systematic Withdrawal Plan allows for regular cash withdrawals to support the insured’s diverse life objectives.
Bajaj Allianz Future Gain
Bajaj Allianz Future Gain Plan is a ULIP plans that invests in life insurance and capital markets with the goal of maximizing wealth. Those who buy the Future Gains insurance plan have the opportunity to accumulate wealth for the future.
This is accomplished by using the premiums you charge and investing them in the debt and equity markets. It also provides features like different fund options, flexible premium payment options, a range of risk levels to accommodate different investor comfort levels and much more. It also gives you the opportunity to amass more wealth while benefiting from the security that a life insurance policy offers.
Aditya Birla Sun Life Fortune Elite Plan
Unit accounts that participate in market growth and generate high returns are where premiums are invested in the BSLI Fortune Elite Plan, a unit-linked insurance plan. The plan additionally provides life insurance coverage to fulfill protection needs. The policyholder assumes all investment risk related to the portfolio of investments under this policy. The Sun Life Insurance Fortune Elite Plan offers both the opportunity to protect and grow one’s wealth and the Aditya Birla Insurance protection.
Max Life Platinum Wealth Plan
Max Life Insurance has launched a new product for high-net-worth individuals called the Max Life Platinum Wealth Plan. Better financial planning for future security is made possible by the Unit-Linked Insurance Plan (ULIP plans), in which participation is voluntary.
It’s a smart investing approach that provides you with options for different funds, portfolio strategies, and flexibility to help you reach your objectives. With the aid of investment options, loyalty benefits, and life insurance coverage offered by the insurance policy, a policyholder’s wealth can also grow over time. The plan offers a rider option to increase the amount of protection it offers in addition to multiple premium payment options.
Bajaj Allianz Fortune Gain
Bajaj Allianz offers a unit-linked insurance single premium endowment plan. It is known as Bajaj Allianz Fortune Gain ULIP plans. To ensure that your investment is fully utilized, it offers up to 99.5% of the premium allocation. Benefits for the investment are given under this plan. In addition, it guarantees the lowest possible charge.
The Bajaj Allianz Fortune Gain ULIP plans provides life insurance protection and market-linked returns to help build wealth. The planned total provides 3% of the single premium as Loyalty Additions. This is applicable to policies with terms of at least ten years and single premiums of at least one lakh rupees.
ICICI Wealth Builder
The ICICI Prudential Wealth Builder II Plan is a non-participating universal life insurance policy (ULIP) that provides market-linked investments to help you grow your money and life insurance to safeguard your family’s financial future. Clients who select this plan benefit from the ease and simplicity of a one-time payment. Although its primary goal is to boost an individual’s wealth, it also serves as a family’s life insurance policy. Under this plan, premiums can be paid for a fixed period of time, such as five or ten years, under the little pay option, or for the full policy term.