ULIP Plans in India for NRI

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.

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ULIP Plans

  • Plan starting from ₹1,000/month
  • Save upto ₹46,800 in Tax under section 80 C
  • Zero LTCG Tax
  • In built life cover

Top performing plans˜ with High Returns**

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9.7 Crore
Registered Consumer
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Insurance Partners
4.9 Crore
Policies Sold
Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.
Fund Details
Fund Size
NAV
5 Year
7 Year
10 Year
High Growth Fund
Fund Size: 7,657 Cr
7,657 Cr
102.62 -2.47%
33.56% Highest Returns
19.72%
16.82%
Get Details
Top 200 Fund
Fund Size: 1,915 Cr
1,915 Cr
156.48 -1.85%
33.06% Highest Returns
20.69%
16.57%
Get Details
Accelerator Mid-Cap Fund II
Fund Size: 4,988 Cr
4,988 Cr
74.93 -1.64%
26.11% Highest Returns
11.93%
13.25%
Get Details
Opportunities Fund
Fund Size: 32,427 Cr
32,427 Cr
68.59 -1.36%
26.28% Highest Returns
13.34%
13.43%
Get Details
Growth Plus Fund
Fund Size: 488 Cr
488 Cr
34.03 -0.20%
18.66% Highest Returns
9.86%
9.13%
Get Details
Accelerator Fund
Fund Size: 206 Cr
206 Cr
43.95 -0.42%
24.62% Highest Returns
14.69%
11.71%
Get Details
Grow Money Plus Fund
Fund Size: 393 Cr
393 Cr
62.81 -0.33%
23.24% Highest Returns
13.96%
12.71%
Get Details
Multiplier
Fund Size: 3,726 Cr
3,726 Cr
83.06 -1.91%
27.71% Highest Returns
12.46%
14.1%
Get Details
Equity Top 250 Fund
Fund Size: 495 Cr
495 Cr
53.89 -0.44%
22.63% Highest Returns
11.76%
10.7%
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Future Apex Fund
Fund Size: 78 Cr
78 Cr
50.02 -0.60%
26.82% Highest Returns
14.16%
11.43%
Get Details
Opportunities Fund
Fund Size: 2,965 Cr
2,965 Cr
53.36 -0.50%
24.94% Highest Returns
12.68%
10.91%
Get Details
Frontline Equity Fund
Fund Size: 3,738 Cr
3,738 Cr
63.32 -0.55%
26.3% Highest Returns
14.88%
12.95%
Get Details
Flexi Growth Fund
Fund Size: 433 Cr
433 Cr
10.78 -0.05%
-
-
-
Get Details
Virtue II
Fund Size: 2,891 Cr
2,891 Cr
65.16 -0.62%
23.2% Highest Returns
17.21%
15.2%
Get Details
Pension Dynamic Equity Fund
Fund Size: 6 Cr
6 Cr
67.51 -0.19%
22.07% Highest Returns
11.38%
9.52%
Get Details
Top 300 Fund
Fund Size: 1,715 Cr
1,715 Cr
52.66 -0.14%
20.12% Highest Returns
12.44%
11.03%
Get Details
Blue-Chip Equity Fund
Fund Size: 1,193 Cr
1,193 Cr
32.73 -0.17%
19.84% Highest Returns
10.86%
9.19%
Get Details
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Best ULIP Funds - Consider the best performing ULIP funds to invest in 2025 with Policybazaar. Find the list of best ULIP funds in India on the basis of Returns, Latest Nav, Fund Size and Categories

Data source : value research

Returns as on 31-03-2025. The returns are the returns of best-performing fund in the plan

Disclaimer :
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. 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. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

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What is a ULIP?

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.

Key Features of Best ULIP Plans 2024 in India for NRI

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

Best ULIP Plans 2024 in India for NRI

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%

Key Factors to Consider for an NRI Before Investing in ULIP -India

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.

Tax Benefits of ULIP in India for NRI

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.

Types of ULIP Plans in India for NRI

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.

Types of Market Linked Funds in ULIP for NRI

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.

Illustration of Working of ULIP in India

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.

Benefits of Best ULIP Plans in India for NRI

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.

Steps to Buy Best ULIP Plans in India from Policybazaar

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.

ULIP vs. Other Investment Options in India in 2024

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

FAQ's

  • Which company is best for ULIP plan for NRIs?

    Some of the companies that offer best ULIP plans in India for NRIs are listed below:
    • ICICI Pru Life Insurance

    • Aditya Birla Sun Life Insurance

    • Bajaj Allianz Life Insurance

    • HDFC Life Insurance

    • Axis Max Life Insurance

  • Is ULIP better than FD for an NRI?

    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.

  • Is ULIP good for 5 years for an NRI?

    The following list shows the major advantages for an NRI of investing in ULIP for 5 years:
    • 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

  • What is the ULIP policy in India for NRIs?

    ULIP policies (Unit Linked Insurance Plans) in India for NRIs (Non-Resident Indians) have specific features and regulations compared to those for resident Indians:
    • 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.
˜Top 5 plans based on annualized premium, for bookings made in the first 6 months of FY 24-25. 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. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

Ulip Plans En Uk Insurance Reviews & Ratings
4.6 / 5 (Based on 1249 Reviews)
(Showing Newest 10 reviews)
Amit
Guwahati, March 26, 2025
Reliable and Safe Investment
Policybazaar is reliable for investment. HDFC Life Dynamic Advantage Fund performs well and is safe for long term.
Raghavan
Ranchi, March 25, 2025
Easy and Helpful Investment Process
Policybazaar made it easy to invest in HDFC Life Dynamic Advantage Fund NFO. Simple process helpful customer service very happy.
Priya
Coimbatore, March 21, 2025
Quick and Secure Investment
Simple quick and secure way to invest in HDFC Life NFOs. Policybazaar makes everything clear and support is excellent.
Meenal
Kochi, March 21, 2025
Stable Steady Returns
I like this fund. Returns are stable but not fast. Best for people who want slow and steady growth in their portfolio.
Venkatesh
Hyderabad, March 19, 2025
Simple and Transparent Process
I found HDFC Life NFOs through Policybazaars platform. Very good process easy to understand and no hidden charges. Satisfied.
Manisha
Bangalore, March 17, 2025
Good for Long term Growth
Best for long term goals. HDFC Life Advantage Fund NFO gives a good growth chance.
Karthik
Chennai, March 17, 2025
Balanced Long term Investment
I invested in HDFC Life Dynamic Advantage Fund. Its balanced but sometimes market changes give negative returns. Better for long term.
Shalini
Bhopal, March 16, 2025
Great Platform for Investment
Policybazaar helped me choose HDFC Life Dynamic Advantage Fund NFO. Great platform for easy investments and the process was simple.
Satyendra
Jodhpur, March 16, 2025
Hassle Free Investment Process
Investing HDFC Life NFOs through Policybazaar is very good. Simple to follow no hassle and good advice from experts.
Priyanka
Indore, March 15, 2025
Flexi Cap Fund
This fund is flexi cap. I like how it adapts to market. Returns are ok but need patience for better growth.
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