ULIPs or Unit Linked Insurance Plans offer a dual financial solution of wealth creation with insurance. This investment plan combines the benefits of insurance coverage with investment opportunities for a Non Resident Indian (NRI). ULIP in India also provides NRIs with tax benefits under Section 80C and 10(10D) of the Income Tax Act, 1961.
Top performing plans with High Returns**
Invest ₹10K/month & Get ₹1 Crore# returns
Fund Details |
Fund Size |
NAV |
5 Year |
7 Year |
10 Year |
|
|---|---|---|---|---|---|---|
 High Growth Fund
Fund Size: 8,482 Cr
|
8,482 Cr |
119.99 1.59% |
31.9% Highest Returns |
22.51% |
20.47% |
Get Details |
 Whole Life Mid Cap Equity Fund
Fund Size: 13,435 Cr
|
13,435 Cr |
158.69 2.49% |
27.7% Highest Returns |
19.08% |
20.43% |
Get Details |
 Virtue II
Fund Size: 3,532 Cr
|
3,532 Cr |
77.53 1.12% |
26.28% Highest Returns |
19.27% |
17.97% |
Get Details |
 Accelerator Mid-Cap Fund II
Fund Size: 6,452 Cr
|
6,452 Cr |
86.49 1.27% |
22.67% Highest Returns |
14.08% |
16.96% |
Get Details |
Fund Details |
Fund Size |
NAV |
5 Year |
7 Year |
10 Year |
|
|---|---|---|---|---|---|---|
|
Whole Life Aggressive Growth Fund
Fund Size: 869 Cr
|
869 Cr |
93.59 0.82% |
20.41% Highest Returns |
16.64% |
15.83% |
Get Details |
|
Whole Life Stable Growth Fund
Fund Size: 266 Cr
|
266 Cr |
61.92 0.32% |
15.66% Highest Returns |
13.34% |
12.78% |
Get Details |
 Balanced Fund
Fund Size: 380 Cr
|
380 Cr |
48.06 0.34% |
14.21% Highest Returns |
11.62% |
11.91% |
Get Details |
|
Asset Allocation Fund II
Fund Size: 341 Cr
|
341 Cr |
31.32 0.18% |
12.98% Highest Returns |
10.58% |
11.36% |
Get Details |
Fund Details |
Fund Size |
NAV |
5 Year |
7 Year |
10 Year |
|
|---|---|---|---|---|---|---|
 Builder
Fund Size: 243 Cr
|
243 Cr |
89.55 0.06% |
8.26% |
7.92% |
8.91% Highest Returns |
Get Details |
|
Whole Life Income Fund
Fund Size: 802 Cr
|
802 Cr |
38.31 0.03% |
7.01% |
7.25% |
8.18% Highest Returns |
Get Details |
 Debt Fund
Fund Size: 482 Cr
|
482 Cr |
36.29 0.04% |
6.91% |
7.06% |
7.93% Highest Returns |
Get Details |
|
Conservative Fund
Fund Size: 233 Cr
|
233 Cr |
55.4 0.09% |
7.98% Highest Returns |
7.2% |
7.92% |
Get Details |
Best ULIP Funds - Consider the best performing ULIP funds to invest in 2024 with Policybazaar. Find the list of best ULIP funds in India on the basis of Returns, Latest Nav, Fund Size and Categories
Returns as on 25-11-2024. The returns are the returns of best-performing fund in the plan
Disclaimer :
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
The full form of ULIP is Unit Linked Insurance Plan. It is an investment plan for NRIs (Non-Resident Indians) in which a portion of your premium goes towards life insurance coverage, and the rest is invested in the chosen market linked funds like-
Equity funds
Debt funds
Hybrid Funds
Index Funds
With options to invest in a diverse range of funds, ULIP plans empower NRIs to customize their investment portfolios according to their risk appetite and financial goals.
The key features of ULIP investment plans for NRI are listed below:
Flexible premium payment options
Choice of investment funds (equity, debt, balanced)
Partial withdrawal facility
Option to switch between funds
Life insurance coverage
Tax benefits under Indian tax laws
Transparency in charges and fees
Potential for market-linked returns
Suitable for long-term wealth accumulation and financial planning
You can compare the top ULIP plans for NRIs in India from the following table:
| Plan Names | Entry Age | Maximum Maturity Age | Minimum Investment Amount (annually) | 10 Year Returns |
| Bajaj Allianz Invest Protect Goal | 18 years | 40 years | ₹50,400 | 19.20% |
| TATA AIA Smart Sampoorna Raksha | 18 years | 40 years | ₹55,300 | 18.90% |
| HDFC Life Sampoorn Nivesh | 0 years | 40 years | ₹12,000 | 16.70% |
| HDFC Life Smart Protect Plan | 18 years | 40 years | ₹50,000 | 14.50% |
| TATA AIA Fortune Pro | 18 years | 40 years | ₹12,000 | 22% |
| Bajaj Allianz Goal Assure II | 18 years | 20 years | ₹36,000 | 21.20% |
| Bajaj Allianz Smart Wealth Goal II | 18 years | 30 years | ₹12,000 | 21.20% |
| Aditya Birla Wealth Aspire Plan | 18 years | 40 years | ₹40,000 | 20.40% |
| PNB Metlife Mera Wealth Plan | 18 years | 30 years | ₹12,000 | 18.40% |
| Bharti AXA Wealth Maximizer | 18 years | 30 years | ₹24,000 | 17.60% |
| Kotak Life E-Invest | 18 years | 20 years | ₹12,000 | 16.30% |
| Edelweiss Tokio Wealth Secure+ | 0 years | 25 years | ₹12,000 | 15.10% |
| Future Generali Big Dream | 18 years | 20 years | ₹18,000 | 15% |
| LIC SIIP Plan | 18 years | 25 years | ₹40,000 | 17.20% (RSI) |
| SBI Life eWealth Insurance | 5 years | 30 years | ₹24,000 | 16.10% (RSI) |
| ICICI Pru LifeTime Classic | 0 years | 25 years | ₹30,000 | 221.10% |
| Aviva i-Growth | 18 years | 20 years | ₹48,000 | 14.10% |
An NRI should consider the following factors before starting to invest in a ULIP plan in India:
Currency exchange rates: Consider fluctuations that can affect returns.
Tax implications: Understand tax laws in India and your home country.
Lock-in period: Assess if it aligns with your investment goals and liquidity needs.
Charges: Evaluate various fees associated with ULIPs and compare with other investment options.
Fund performance: Research the track record of the ULIP's underlying funds.
Insurance coverage: Analyse the extent of coverage provided along with investment benefits.
Long-term commitment: Determine if you are comfortable with the investment horizon and potential risks.
The best ULIP plans provide the following tax benefits for an NRI in India:
Deductions:
Section 80C: Deduct up to ₹1.5 lakh on premiums paid annually.
Death Benefit: Entire amount received by the nominee is tax-free.
Maturity Benefit:
Exempt if:
Premium ≤ ₹2.5 lakh per year (policies bought after Feb 1, 2021); OR
Premium ≤ 10% of Sum Assured (policies bought before Feb 1, 2021).
Taxed as capital gain if above limits are exceeded.
| Classification | Type | Description | Suitable for NRIs with goals of |
| By Purpose | Child Education | Premiums help build a corpus for child's education. | Securing a child's education even if a parent dies abroad. |
| Retirement | Premiums invest for retirement corpus. | Building retirement savings while abroad. | |
| Wealth Creation | Focuses on wealth accumulation through market-linked investments. | Growing wealth over the long term while abroad. | |
| Health | Provides financial cover for medical expenses. | Managing healthcare costs while abroad. | |
| By Death Benefits | Type 1 (Sum Assured + Fund Value) | Death benefit is sum assured + accumulated fund value (market-linked). | Lower premiums, but death benefit may not grow significantly. |
| Type 2 (Higher Sum Assured) | Death benefit is guaranteed higher sum assured, regardless of fund value. | Higher premiums, but guaranteed larger death benefits. |
Market-linked funds in ULIPs for NRIs can be broadly categorized into three types:
Equity Funds: These funds invest primarily in stocks, which offer the potential for high returns but also come with higher risk. Equity funds are suitable for NRIs with a long-term investment horizon and a high risk appetite.
Debt Funds: These funds invest in fixed-income securities such as bonds and government securities. Debt funds offer lower returns than equity funds but also carry lower risk. Debt funds are suitable for NRIs who want to preserve their capital and earn stable returns.
Balanced Funds: These funds invest in a mix of equity and debt assets, offering a balance between risk and return. Balanced funds are suitable for NRIs who want to diversify their portfolio and moderate their risk exposure.
Let us take an example of Sameer to understand the working of ULIP Plans.
Age of Sameer = 30 years
PPT = 20 years
Premium amount = Rs. 50,000 every year
PT = 10 years
Plan Details:
Assured Amount: Rs. 5,00,000 (Rs. 50,000/year for 10 years)
Initial Annual Charges: Rs. 2500
Total Annual Investment: Rs. 47,500
Starting NAV: Rs. 10
Units Bought: 4750 (Rs. 47,500 ÷ Rs. 10)
Final ULIP Returns:
Death Benefits: Akash's nominee gets Rs. 5,00,000 (Assured Amount) or the Fund Value (if higher) if Akash passes away during the plan.
Maturity Benefits: Akaagh receives the Fund Value if he's alive at the end of the plan.
Best ULIP plans in India offer numerous benefits for Non-Resident Indians (NRIs). These include:
Investment Flexibility: ULIPs allow NRIs to invest in a variety of funds, including equity, debt, and balanced funds, based on their risk appetite and financial goals.
Tax Benefits: NRIs can enjoy tax benefits on their investments in ULIPs, with tax deductions available under Section 80C of the Income Tax Act.
Wealth Creation: ULIPs provide the opportunity for long-term wealth creation through market-linked returns, helping NRIs achieve their financial objectives.
Life Insurance Coverage: ULIPs offer life insurance coverage along with investment providing financial protection to NRIs and their families.
Currency Fluctuation Protection: Some ULIPs offer the option to invest in funds denominated in foreign currency, providing a hedge against currency fluctuations for NRIs.
Flexible Premium Payment Options: NRIs can choose from various premium payment options, including single premium or regular premium, based on their convenience and financial situation.
Online Access and Management: Many ULIPs offer online access and management tools, allowing NRIs to monitor their investments and make changes easily from anywhere in the world.
You can follow the steps mentioned below to buy a ULIP plan in India from Policybazaar:
Step 1: Visit Policybazaar's official website and Click on 'ULIP Plans' on the homepage.
Step 2: Enter your basic details like name, contact number, and email id.
Step 3: Compare the listed ULIP plans. You should choose the plan that fits your needs and click 'Buy Now'.
Step 4: Fill out a detailed form with specific information.
Step 5: Select your investment funds based on risk appetite.
Step 6: Proceed to the payment page and complete the transaction.
Step 7: Upon successful payment, receive a confirmation and policy document via email.
Step 8: Review the document for accuracy and store both digital and physical copies securely.
| Feature | ULIP | Mutual Fund | Endowment Plan |
| Investment Type | Market-linked (equity, debt, balanced) | Market-linked (equity, debt, balanced) | Guaranteed (debt-based) |
| Return Potential | High (riskier) | Moderate | Low (guaranteed) |
| Flexibility | High (fund switching) | High (various schemes) | Low (limited options) |
| Life Cover | Yes | No | Yes |
| Lock-in Period | 5 years | None | Term of the plan |
| Tax Benefits | Partial premium tax-deductible | Investment gains taxed | Maturity amount tax-free (conditions apply) |
| Suitability | Risk-tolerant investors, long-term goals | Diverse investor needs, various goals | Risk-averse investors, guaranteed payout |
ICICI Pru Life Insurance
Aditya Birla Sun Life Insurance
Bajaj Allianz Life Insurance
HDFC Life Insurance
Max Life Insurance
Whether a ULIP is better than an FD for an NRI depends on several factors, including your individual financial goals, risk tolerance, and investment timeline.
If your primary goal is wealth creation and you have a high-risk tolerance, a ULIP might be suitable. However, if you prioritize capital protection and guaranteed returns, an FD might be a better choice.
Life insurance and investment combined
Tax benefits on premiums paid and maturity amount
ULIPs allow you to switch between funds based on your risk tolerance and financial goals
ULIPs encourage long-term investing
NRIs can invest in ULIPs through remittance from their foreign currency accounts.
Premiums paid up to Rs. 2.5 lakhs per year are eligible for tax deduction under Section 80C of the Income Tax Act (applicable for policies issued after Feb 1, 2021).
Maturity proceeds are generally tax-free if the policy is held for more than 5 years and the sum assured is received on death.
However, for ULIPs issued after April 1, 2023, if the annual aggregate premium exceeds Rs. 5 lakhs, the maturity proceeds (minus premium paid) might be taxable.
Double taxation implications: Depending on the DTAA between your home country and India, you might be taxed on ULIP returns in both countries. Consult a tax advisor for details.
*All savings are provided by the insurer as per the IRDAI approved insurance
plan. Standard T&C Apply
Tax benefit is subject to changes in tax laws
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
Aditya Birla Sun Life ULIP Plans
Aviva ULIP Plans
Bajaj Allianz ULIP Plans
Bandhan Life ULIP Plans
Bharti AXA Life ULIP Plans
Canara HSBC ULIP Plans
Edelweiss Life ULIP Plans
Future Generali ULIP Plans
HDFC Life ULIP Plans
ICICI Prudential ULIP Plans
IDBI Federal ULIP Plans
IndiaFirst ULIP Plans
Kotak Life ULIP Plans
Max Life ULIP Plans
PNB MetLife ULIP Plans
Pramerica Life ULIP Plans
Reliance Life ULIP Plans
Sahara Life ULIP Plans
SBI Life ULIP Plans
Shriram Life ULIP Plans
Star Union ULIP Plans
Tata AIA ULIP Plans
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