Whole Life ULIP Plans

Whole Life ULIPs are a type of plan that combines life insurance with investment options. They provide coverage for your entire life, along with the potential for growth through market-linked investments. ULIP investments are the ideal choice for securing your future and those you love.

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7.7 Crore Registered Consumer
50 Partners Insurance Partners
4.2 Crore Policies Sold

ULIP Plans

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

We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

Top performing plans with High Returns^**

Invest ₹10K/month & Get ₹1 Crore^# on Maturity

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We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 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 Name

AUM

NAV

Returns (in %)

3 Year

5 Year

10 Year

High Growth Fund

Max Life

AUM:8,482 Cr

8,482 Cr

NAV

119.99

1.59%

Returns

23.95%

Returns

31.9%

Highest Returns

Returns

20.47%

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Whole Life Mid Cap Equity Fund

Tata AIA

AUM:13,435 Cr

13,435 Cr

NAV

158.69

2.49%

Returns

21.08%

Returns

27.7%

Highest Returns

Returns

20.43%

Get Details

Virtue II

PNB Metlife

AUM:3,532 Cr

3,532 Cr

NAV

77.53

1.12%

Returns

17.59%

Returns

26.28%

Highest Returns

Returns

17.97%

Get Details

Accelerator Mid-Cap Fund II

Bajaj Allianz

AUM:6,452 Cr

6,452 Cr

NAV

86.49

1.27%

Returns

17.79%

Returns

22.67%

Highest Returns

Returns

16.96%

Get Details

Opportunities Fund

HDFC Standard

AUM:40,966 Cr

40,966 Cr

NAV

78.44

1.16%

Returns

15.75%

Returns

23.42%

Highest Returns

Returns

16.86%

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Fund Name

AUM

NAV

Returns (in %)

3 Year

5 Year

10 Year

Whole Life Aggressive Growth Fund

Canara HSBC Oriental Bank

AUM:869 Cr

869 Cr

NAV

93.59

0.82%

Returns

16.11%

Returns

20.41%

Highest Returns

Returns

15.83%

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Whole Life Stable Growth Fund

Canara HSBC Oriental Bank

AUM:266 Cr

266 Cr

NAV

61.92

0.32%

Returns

12.53%

Returns

15.66%

Highest Returns

Returns

12.78%

Get Details

Balanced Fund

Canara HSBC Oriental Bank

AUM:380 Cr

380 Cr

NAV

48.06

0.34%

Returns

11.49%

Returns

14.21%

Highest Returns

Returns

11.91%

Get Details

Asset Allocation Fund II

Canara HSBC Oriental Bank

AUM:341 Cr

341 Cr

NAV

31.32

0.18%

Returns

9.45%

Returns

12.98%

Highest Returns

Returns

11.36%

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Save N Grow Money Fund

Canara HSBC Oriental Bank

AUM:68 Cr

68 Cr

NAV

58.7

0.37%

Returns

8.69%

Returns

11.34%

Highest Returns

Returns

10.82%

Get Details

Fund Name

AUM

NAV

Returns (in %)

3 Year

5 Year

10 Year

Builder

Canara HSBC Oriental Bank

AUM:243 Cr

243 Cr

NAV

89.55

0.06%

Returns

6.87%

Returns

8.26%

Returns

8.91%

Highest Returns

Get Details

Whole Life Income Fund

Canara HSBC Oriental Bank

AUM:802 Cr

802 Cr

NAV

38.31

0.03%

Returns

6.22%

Returns

7.01%

Returns

8.18%

Highest Returns

Get Details

Debt Fund

Canara HSBC Oriental Bank

AUM:482 Cr

482 Cr

NAV

36.29

0.04%

Returns

5.92%

Returns

6.91%

Returns

7.93%

Highest Returns

Get Details

Conservative Fund

Canara HSBC Oriental Bank

AUM:233 Cr

233 Cr

NAV

55.4

0.09%

Returns

7.01%

Returns

7.98%

Highest Returns

Returns

7.92%

Get Details

Protector

Canara HSBC Oriental Bank

AUM:307 Cr

307 Cr

NAV

64.22

0.06%

Returns

6.07%

Returns

7.01%

Returns

7.89%

Highest Returns

Get Details

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

What is a Whole Life ULIP Investment?

Whole-life ULIP plans offer a unique combination of life insurance and investment benefits designed for those seeking long-term financial security. These plans provide guaranteed coverage throughout your entire life (usually up to age 99-100), ensuring your loved ones are protected in case of your passing. It is a long-term investment option that offers protection and growth.

The premium paid towards the policy secures the policyholder’s life and helps to grow their wealth through market-linked investments. The policyholder has the option to choose the type of investments - equity, debt, or a combination of both.

The policyholder can claim tax deductions under Section 80C and 10(10D) of the Income Tax Act^ for the premiums paid towards Whole life ULIP plans. This provision enables the policyholder to save taxes on the investment made in Whole Life ULIP plans.

How Do Whole Life ULIPs Work?

Whole Life ULIP Plans operate in a straightforward manner. Firstly, you need to pay regular premiums in monthly, quarterly, bi-annual, or annual installments.

The premiums paid serve two purposes. One of them is to offer you guaranteed life insurance protection in the form of a fixed death benefit (sum assured) in the event of the policyholder’s unexpected death. The term can range from 10 to 40 years, but in the case of Whole Life ULIP Plans, it covers the policyholder for up to 99 years.

The death benefit is monetary compensation paid to the beneficiary or immediate family members nominated while purchasing the Whole Life ULIP Plan.

The other part of the premium is distributed in equity, debt, or hybrid funds (market-linked investment options) to grow investments over time. At the end of the policy term, the investor receives the total compounded amount accrued during the investment period.

What Are the Benefits of Investing in Whole Life ULIPs?

Some benefits of investing in Whole Life ULIPs are:

Long-Term Wealth Creation

Whole Life ULIP Plans are designed to provide investors with a means of creating wealth over an extended period by investing in market-linked securities. It allows you to regularly contribute a specific amount to your policy, which grows over time and provides a substantial payout at the end of the policy term.
Life Insurance Protection

Apart from the investment component, Whole Life ULIP Plans also provide life insurance protection. It means that in the event of your death, the beneficiary receives a lump sum payment as per the policy coverage.
Policy Withdrawal

Most ULIPs have a lock-in period of 5 years. After that, you can also choose to withdraw the amount from the investment component of ULIP.
Maximize Returns

Whole Life ULIP Plans allow you to invest in a variety of financial products. This gives you the opportunity to achieve maximum returns on your investment, helping you to reach your life goals and financial aspirations more effectively.

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Is ULIP Insurance a Good Investment?

ULIPs have been popular in India for a long time now and are considered a good investment option by many. Here’s what makes ULIPs a good investment:

Flexibility: ULIPs allow you to adjust premium payments (within limits) and choose how your money is invested among various fund options, adapting to your changing risk tolerance and financial goals.
Tax Benefits: ULIPs offer tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961^. You can claim deductions on the premium paid towards the policy.
Wide Range of Funds: ULIPs offer a wide range of funds to choose from, including equity, debt and hybrid funds. This gives you the flexibility to choose a fund that matches your risk appetite and investment goals.

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Conclusion

Whole Life ULIP plans help you achieve long-term savings and financial goals. They provide guaranteed lifetime insurance coverage, ensuring your loved ones are financially protected. Beyond death benefits, Whole Life ULIPs allow you to invest a portion of your premium, giving you the potential to accumulate wealth alongside your insurance policy. You can seek the advice of a financial advisor to determine which Whole Life ULIP plan is suitable for your individual needs and financial situation.

FAQs

Can I switch between funds in a Whole Life ULIP plan?

With a ULIP policy, you can change the investment fund throughout the duration of the policy. It enables you to optimize your returns through a unit-linked insurance plan.
Can I take a loan against my Whole Life ULIP policy?

Yes. You can take a loan against your Whole Life ULIP. The facility is available to policyholders who have made regular premium payments for at least three years.
What is the lock-in period for a Whole Life ULIP plan?

Unit-Linked insurance plans come with a lock-in period of five years.
How is the death benefit determined in a Whole Life ULIP plan?

In Unit Linked Insurance Plans, the nominee will receive a payment referred to as the death benefit if the policyholder passes away during the term of the policy.

†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
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^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.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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^^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.