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ULIP calculator

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What is a ULIP calculator?

What is a ULIP calculator?

Unit linked insurance plans or ULIPs have become one of the most popular investment options in India. ULIPs offer dual benefits of wealth creation and insurance protection. It is essentially a life insurance plan that offers market-linked returns on your savings. ULIPs provide the option to choose from multiple investment funds depending on the life goal and risk appetite. Having a knowledge of how ULIP works, will make the benefits of ULIP investments clear.

To initiate a ULIP investment, you will have to pay the premium amount. The premium can be a lump-sum payment or a periodic one, with regular monthly, quarterly, half-yearly or annual payments. The investments are pooled in from various investors and the accumulated fund is divided into small units. Each investor is assigned units as per his/her contribution. At maturity, the units are liquidated and the money is paid to the investor. The increase in the fund value leads to capital appreciation.

Before investing your hard-earned money, it is important to ensure that the selected ULIP plan is suitable for your needs. A ULIP return calculator can help you get an idea of the various aspects of ULIPs. A ULIP calculator is a handy online tool that tells the investors the amount they can expect at maturity after investing a specific amount for a particular tenure. It takes into account all the crucial data points like tenure, premium, age and rate of return to provide expected returns on investment. Since ULIPs are subject to market risks, a ULIP calculator

Why use the ULIP calculator?

A ULIP offers market-linked returns and helps you create a suitable corpus for your financial goals. The returns under the ULIP are not guaranteed as they depend on how the market performs. However, when you buy a ULIP, you might want to know the expected returns on your investments. This is where the ULIP calculator comes into picture.

Here are some reasons why you should use the ULIP calculator when buying a ULIP –

To assess the adequate savings required

To assess the adequate savings required

The calculator tells you how much to invest to create a desired corpus. Thus, using the calculator, you can set aside adequate savings and create the desired funds for your financial goals.
The ULIP calculator also helps you assess the adequacy of your savings and find out how much you need to invest to reach the desired corpus.

To plan your finances

To plan your finances

Once you know the amount of savings required for your financial goals, you can plan your finances to ensure that you save the required amount and set it aside.

How to increase the probability to Enhance Returns from ULIPs?

There are ways to increase the probability of enhancing the return potential of the ULIP plan. Some of these are listed below: 

1. Investing for a longer tenure:

Long-term ULIPs allow you to stay invested and enjoy market-linked returns, associated with risk, over a longer tenure. Moreover, the power of compounding also works its miracle on the corpus if you have a long-term investment horizon.

2. Premium Payments:

Paying the premiums regularly adds to your corpus, gives you multiple entry points to invest, and increases probability of market-linked returns if the market performs well.

3. Choosing suitable funds:

Equity-oriented investment funds may have the potential to deliver good returns on your investment but they also have a high risk profile. Debt funds, on the other hand, carry low risk and the returns are low. Liquid funds offer lower returns than equity or debt funds and have lower risk as well. There are balanced funds too that give the benefit of both equity and debt investment. They have a moderate risk-return profile. So, based on your risk profile and investment needs, choose suitable funds for investment.

4. Portfolio Management:

Depending on market movements, you can switch between the ULIP funds to protect your returns in market volatility.

5. Top-up Premiums:

Top-up premium helps you to increase your investment in ULIPs by paying an additional premium. Increased investments may also mean more investment in terms of fund units and better returns as per market performance.

How does ULIP calculator work?

  1. 1

    Just like other investment options, it is critical to conduct comprehensive research before investing in ULIP plans. It is not possible to conduct an objective analysis of many investment options, but with a ULIP maturity amount calculator, you can get a fair idea/ estimate of ULIP returns. A ULIP plan calculator is a simple online tool that uses data provided by the investor to give an idea of the expected returns. As ULIPs are long-term insurance cum investment plans, it is advisable to use a ULIP maturity amount calculator before committing to get an idea of the estimated returns. It is easy to understand how ULIP works after using a ULIP plan calculator as it tells you the estimate corpus you can generate based on your inputs.

  2. 2

    Let us move to the data required by a ULIP plan calculator. To get actionable information, it is essential to provide exact details. The key information required by a ULIP plan calculator is:

    • Frequency of premium payment
    • Premium amount
    • Type of fund
    • Rate of return
    • Investment duration
  3. 3

    Many ULIP maturity amount calculators give an additional option of dividing the investable amount into risk-free and market-linked investments. The rate of return of different types of investments are based on various assumptions and can vary. The ULIP plan calculator should be used to get an idea of the maturity amount, but the amount should be used only as a tentative figure and not to be used as the base for firm decisions. In ULIP plans, the investment risk in investment portfolio is borne by the policyholder.

Features of a ULIP calculator

ULIP calculator ensures that you can get an idea of how much corpus you would require to get your life goals done by providing comprehensive details of the investment funds and the expected returns. With ULIP calculators, you can get a broad idea of the amount to expect at maturity. On the flip side, you can also provide the amount to earn and get the duration required to achieve the goals.

Plan Life Goals better

Plan Life Goals better

ULIP calculator ensures that you can get an idea of how much corpus you would require to get your life goals done by providing comprehensive details of the investment funds and the expected returns. With ULIP calculators, you can get a broad idea of the amount to expect at maturity. On the other side, you can also provide the amount to earn and get the duration required to achieve the goals.



One of the best features of ULIP calculator is the flexibility provided by it. Investors can change the variables to change the output according to their needs. Sometimes frequent modifications are required to get a comprehensive picture and ULIP calculators offer adequate flexibility.



Like unit-linked plans, ULIP calculators provide complete control to the users. Investors can control the information they want from a ULIP calculator. The expected rate of return, premium amount and duration can be modified to get different results as required. ULIP plans too offer control to the investors by offering multiple funds and free switching between funds.

Informed decision making

Informed decision making

Lack of credible information can be the difference between a successful and an underperforming investment. ULIP calculator helps in accessing important information, which helps in making informed decisions.

Goal-based planning

Goal-based planning

Setting a goal and formulating a plan for achieving it is considered to be a foolproof strategy. Having a goal makes it easier to save. ULIP calculator helps in goal-based planning by analysing all the fund options and their returns.

Benefits of a ULIP calculator

The ULIP calculator is a simple tool but has a high utility. There are several benefits of using a ULIP calculator.

  1. The ULIP calculator is easy to understand and does not require any special instructions.

  2. ULIP calculators are easy on the pocket. ULIP calculators are free of charge and users do not have to pay anything to plan for their future.

  3. The ULIP calculator plays a pivotal role in making informed investment decisions for the common man. ULIPs are long-term investments and by giving a rough idea of the returns to expect and the maturity amount, ULIP calculators help investors make an informed decision. One just needs to provide the required information to get the results.

  4. Many people opt for unit-linked plans just for ULIP tax benefits, but ULIP benefits also include flexibility of investment. ULIPs offer a variety of fund options, which can be confusing for some. ULIP calculator helps investors know which funds to opt for to achieve their stated financial goals.

  5. The optimum duration of an investment is an important consideration for every investor. By using a ULIP calculator, investors can get the estimated duration required to accumulate the required wealth at a specific rate of return.

How to use Bajaj Allianz Life's ULIP Calculator

The ULIP calculator is designed with the needs of the broad society in mind. It can be easily used by people of all age groups to compare ULIP plans and make informed decisions. However, a step by step guide can help in solving any lingering doubts. Before using a ULIP calculator ensure that it is from a credible source. ULIP calculators require several data points and providing personal data to unscrupulous websites may be harmful. Use the interactive Bajaj Allianz Life’s ULIP calculator to get a better idea of the chosen ULIP plan.

  • Step 1

    ULIP calculators are of various types. All are used for the same purpose but have different interfaces. In the first step, the Bajaj Allianz Life’ s ULIP calculator asks for the amount you need to achieve your life goal. It is essentially the maturity amount you are expecting from the ULIP plan. Take into account all the future needs and select the amount

  • Step 2

    In the next step, you will be required to enter the duration of the ULIP plan. ULIPs are long-term plans and generate returns in the long run. Though you can withdraw the corpus after the mandatory five-year lock-in period, it is advisable to keep investing for at least 15 years. One may select a minimum of 10 years and maximum of 60 years depending on his/her requirements.

  • Step 3

    After finalising the duration, you will have to choose the division of the investment between market-linked instruments and risk-free instruments. ULIP plans provide the option to choose from multiple investment funds with varying proportions of market-linked and risk-free instruments. If you are risk-averse, opt for a higher proportion of risk-free instruments like fixed deposits and secured bonds.

  • Step 4

    The fourth step requires you to refine your choices. You are required to provide the rate of return you expect from the risk-free portion. While selecting remember risk-free options may provide relatively lower returns.

  • Step 5

    Just like the expected returns of risk-free returns, choose the rate of return you expect from market-linked instruments. 

    Once you click on the ‘next’ button, you will get the amount you will have to invest every year. A detailed breakup of the amount that will be invested in the risk-free instruments and market-linked instruments will also be available.

ULIP charges you should know about

ULIPs have emerged as one of the preferred investment option for capital appreciation, tax saving and life protection. ULIPs ensure your financial goals are achieved through market-linked returns. Along with market-linked returns, ULIPs ensure that your family lives a financially stable life even in your absence. Like every other investment option, there are certain costs associated with ULIPs. However, ULIP charges have reduced significantly over the past decade after the intervention of the insurance regulatory body. Knowing ULIP charges gives a clear idea of the amount that is invested and the overall returns. Here are some of the major ULIP charges:

Premium allocation charges

The premium allocation charge is an upfront fee deducted from the premium paid by the investor. The premium allocation is levied as a percentage of the premium. It covers the cost of selling the policy which includes underwriting costs, medical expenses and distributor’s fee. The premium allocation charge is deducted upfront and may seem high in the first year, but gradually reduces from the second year. The amount remaining after deducting the premium allocation charge is invested in the ULIP funds of your choice.

Mortality charge

ULIP is a life insurance policy that also helps in saving for the future. Being a life insurance policy, ULIP guarantees the payment of a pre-decided amount to the family of the insured on his/her demise during the policy term. The insurance company levies a mortality charge to cover the cost of life insurance. Mortality charges in ULIP depend on a variety of factors like age, health and the sum assured sought by the investor. Many new-age ULIP plans return the mortality charges at the time of maturity. The return of mortality charges boosts the overall corpus and improves the value proposition of ULIPs for potential investors.

Fund management charges

The flexibility of investment and the market-linked returns have been a major factor behind the popularity of ULIPs. A unit-linked insurance plan provides the option to select from a variety of funds with different proportions of equity and debt. When you invest your money into market-linked funds through a ULIP, a fund management expert manages the accumulated fund to generate desirable returns. Insurance companies levy a fund management charge for the services of the professional fund manager. As per the insurance regulator, an insurer can levy a maximum of 1.35% of the value per year as fund management charges. The fund management charges for debt funds are generally lower than equity funds.

Policy administration charges

Maintaining a ULIP policy requires a considerable amount of paperwork and recordkeeping. ULIPs provide dual benefits of life insurance with an investment which naturally requires a substantial amount of administrative work. Insurers levy policy administration charge to cover the cost of administrative work like record-keeping. The policy administration charge is a regular ULIP charge and is deducted on a monthly basis. To collect the policy administration charge, the insurance company redeems a certain number of units from the policyholder’s account.

Surrender charge

ULIPs are long-term investment plans and generate optimum returns only if you are invested for the long term. To ensure a minimum level of returns for policyholders, ULIPs have a five-year lock-in period. One is not allowed to withdraw money or stop a ULIP policy before five years. However, if a policyholder decides to discontinue a ULIP policy within the lock-in period, the insurance company levies a surrender charge, also known as the policy discontinuance charge. The surrender charge depends on the year of discontinuance. As per IRDAI Regulations, an insurer can charge a maximum of Rs 6000 for surrendering a policy in the first year. These charges are Rs 5000, Rs 4000 and Rs 2000 for the second, third and fourth year, respectively. The policyholder is not required to pay anything for surrendering a policy after the culmination of five years.

ULIP plans by Bajaj Allianz Life

ULIP plans have gained substantial popularity in India. ULIPs help you meet dual needs of insurance and investment. It guarantees the payment of a pre-decided amount to your nominees in the event of your death subject to the policy terms and conditions, while simultaneously growing your wealth and helps you achieve life goals. The ULIP policies offered by Bajaj Allianz are:

Top ULIP plans

With Bajaj Allianz Life Insurance, buy the suitable ULIP plans to create a corpus for your financial goals. Here are the available plans to choose from –

Name of the ULIP

Salient features

Bajaj Allianz Life Goal Assure Plan
A Unit-linked Non-Participating Life Insurance Plan:

  • Enhanced returns with loyalty additions and fund boosters
  • Return of mortality charges

Bajaj Allianz Life Smart Wealth Goal Plan
A Unit-linked Non-Participating Life Insurance Plan:

  • Three plan variants to choose from
  • Different types of investment portfolio strategies
  • Premium allocation charge and mortality charges are returned back

Bajaj Allianz  Future Gain Plan
A Unit-Linked Endowment Insurance Plan:

  • Choice of two investment strategies and ten funds
  • Five optional riders
  • Get the death or maturity benefit in instalments

Bajaj Allianz Fortune Gain Plan
A Unit-linked Insurance Plan:

  • Loyalty additions to enhance the corpus
  • Systematic switching option
  • Choice of seven funds with unlimited free switches

Bajaj Allianz Life Future Wealth Gain Plan
A Non-Participating, Unit-Linked, Individual, Endowment Life Insurance Plan:

  • Fund booster and periodic loyalty additions for enhanced returns
  • Accelerated cancer cover in Wealth  Plus Care variant.
  • Two  variants and two investment portfolio strategies

Bajaj Allianz Life LongLife Goal Plan
A Unit-linked Non-Participating Whole Life Insurance Plan:

  • Get covered for whole life
  • Get retired life income till 99 years along with return enhancer and loyalty additions
  • Life cover charges returned periodically

Other Calculators

Bajaj Allianz Life Insurance offers different types of calculators for a holistic financial planning process. Here are the other calculators that you can access for your needs –

Life Goal Calculator

Calculate the absolute value of your financial goals and also the investment needed to achieve such goals

Child Education Planning Tool

Plan for your child’s higher education using this 3-step simple calculator

Term Calculator

Find out the estimated  term insurance coverage that you need using the term calculator

Power of Compounding

A compound interest calculator that shows how regular investments grow with time and compounding returns

Retirement Calculator

A calculator that helps you calculate an estimated retirement corpus and the investment needed to create the same

Investment Calculator

Find out the estimated corpus that you can accumulate with your savings using this calculator

Child Plan Calculator

A calculator that helps you calculate the estimated corpus required to meet your child’s future needs

Tax Calculator

An income tax calculator that helps you check your income tax liability

Savings to Life Goals Converter

A helpful calculator that calculates how little savings can accumulate into a larger corpus and help you fulfil your financial goals

Life Goals Preparedness Calculator

Calculate how prepared are you, financially, to meet the different life goals that you might have

Investment Age Calculator

Find out your investing age based on your current age and other details

Online ULIP calculators - Frequently Asked Questions

  • What is a ULIP calculator?

    A ULIP calculator is an online tool that is used to calculate ULIP premiums and get an idea of the wealth a ULIP plan will generate in the entire tenure. The ULIP calculator is easy-to-use and free of cost. It has various variables like the tenure, the expected return on investment and the financial objective. Before making a ULIP investment one can use a ULIP calculator to get the estimated premiums and the potential returns from a policy.

  • How is ULIP calculator helpful for offline purchases?

    ULIP plans can be bought both online as well as offline. Even though offline plans have to be bought through agents or physical branches, one can use the ULIP calculator to compare plans and get the future value of the investment. Using a ULIP calculator helps in making informed decisions. 

  • Is ULIP plan a good investment?

    ULIP is an insurance cum investment option that helps you build wealth while simultaneously enjoying the protection of life insurance. ULIP plans channelise your savings into market-linked instruments, which ensures market linked returns. The flexibility and returns offered by ULIP plans make it one of the preferred investment option. The accumulated funds are invested in equity and debt as per the financial objective and risk profile of the investor. The policyholder gets to choose from multiple fund options and also switch between ULIP funds as per his/her wish.

  • How does ULIP work?

    ULIP is a dual-use insurance cum investment plan. It provides life insurance cover along with market-linked returns. It provides the dual benefit of protection as well as investment. The investment is made through specialised funds that invest in equity, debt or a combination of both. ULIP investment has a lock-in period of five years. If the policyholder dies during the tenure of the policy, the higher of the fund value or the sum assured is paid to his/her nominees. The fund value is paid if the policyholder outlives the policy.

  • How can I buy a ULIP plan?

    ULIP plans are available online as well as offline. To buy a ULIP plan offline, get in touch with an insurance agent or visit the nearest branch of Bajaj Allianz Life Insurance Co. Ltd. Alternatively, ULIP plans can also be bought online. One just has to submit documents that establish his/her identity and address and pay the premium to buy a ULIP plan.

  • What is fund value in ULIP?

    The money collected from policyholders is invested through ULIP funds. The total amount in a fund is divided into small equal units. Each investor is assigned a certain number of units according to his/her investment. The fund value is the current market value of your investments in various funds. It tells about the market performance of the funds.

  • What is ULIP NAV?

    The Net Asset Value or NAV of a ULIP plan is calculated by adding up the total ULIP funds on a date and deducting various expenses like operating and management charges from it. The net value of the funds is divided by the total number of the units in the funds to get the net asset value and is published by the insurers on their website. 

  • Is mortality charge deducted for the entire duration of the plan?

    To understand the mortality charge, it is important to understand what is ULIP and why is mortality charge levied. The mortality charge depends on the sum at risk of the insurer, which is essentially the amount of the sum assured more than the fund value. The insurer has to pay the sum at risk from its pocket. To cover the sum at risk, insurers levy the mortality charge, which is charged with other expenses.

  • Are returns guaranteed under ULIPs?

    The returns are not guaranteed under ULIPs. The accumulated corpus is invested in funds, which are a mix of debt and equity. Since ULIPs invest in market-linked instruments, the returns are not guaranteed, but investors can choose the funds as per their risk profile and investment expectations. 

  • How do I pay ULIP premiums?

    Just like buying a ULIP plan, the premiums can also be paid offline as well as online. ULIP premiums can be paid as a lump sum or in monthly, quarterly, half-yearly and annual instalments. Some ULIP plans have a limited premium payment tenure, while other payment tenures run for the entire duration of the policy.

  • What are the benefits of the ULIP plan?

    o Life insurance protection during the policy tenure,
    o Market-linked returns on your investments, associated with risk
    o Tax benefits on your premium and the policy benefits (subject to specified terms and conditions under Income Tax Act, 1961),
    o Flexibility through partial withdrawals, switching, top-up and premium redirection, subject to policy terms & conditions
    o Creation of a market linked corpus for your financial goals.

  • What are the tax benefits under the ULIP plan?

    The tax benefits under ULIP plans are as follows –

    o Premiums paid for the ULIP are eligible for a deduction under Section 80C of the Income Tax Act, 1961. Premiums up to 10% of the sum assured, subject to a maximum of Rs.1.5 lakhs, are allowed as a deduction1.
    o Fund switching is tax-free2.
    o Death benefit is tax-free3.
    o The maturity benefit may or may not be tax-free under Section 10(10D), subject to specified terms and conditions4.

  • In case of death, what benefit does this plan give?

    The death benefit under ULIPs depends on the type of plan that you have bought. There are two main types of ULIPs, based on death benefit payout –
    a) Higher of sum assured or the available fund value is paid on death
    b) The sum assured and the fund value are paid on death2

  • How to buy a ULIP policy online?

    Insurance companies offer different types of ULIPs online. You can visit the insurer’s website, check the available online ULIP plans, choose the suitable plan, and buy online. To buy, you would be required to fill up an online proposal form and pay the premium online through any of the digital payment modes.

  • Where & how is my money invested?

    The premium that you pay towards the ULIP is invested in market-linked securities after the relevant ULIP charges are deducted from it.
    ULIPs offer different types of market-linked investment funds. Depending on the funds that you select, the premium is invested.

  • At what age can I start a ULIP plan?

    You can start a ULIP plan at any age, provided the age falls under the minimum and maximum age limits of the chosen policy. Many ULIPs allow coverage from 3 months onwards. The maximum entry age, however, is limited to 65 or 70 years depending on the features of the plans. This may differ from Insurer to Insurer.
    So, you can start a ULIP within the minimum and maximum age bracket.
    That said, it is better to start ULIP as early as possible so that you can opt for a long-term tenure and also save affordably to create a corpus for your financial goals.

  • Can I surrender a ULIP plan?

    Surrender of a ULIP is allowed after the lock-in period of 5 years. You can also surrender the plan during the lock-in period, but you won’t get the surrender value immediately. In such cases, the invested premiums are moved to the discontinued policy fund for the remaining lock-in period. Once the lock-in period is over, the discontinuance value is paid.

  • What are the charges in the ULIP plan?

    A ULIP plan has different types of charges. Some of them include the following –
    o Premium allocation charge – deducted from the premium
    o Mortality charge – deducted from the fund value to provide life insurance cover
    o Fund management charge – deducted from the fund value to pay for the professional management of the chosen investment fund
    o Policy administration charge – deducted from the fund value towards the administrative charged incurred by the insurer
    o Policy discontinuance charge – if you surrender the policy within the lock-in period of 5 years.
    o Switching charge – as and when applicable
    o Partial withdrawal charge – if applicable
    o Miscellaneous charge – for other applicable charges.

Life Insurance Guide – Related Articles

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The findings generated from the above calculator is completely and solely based on the information shared by you with respect to questions being asked his has no linkage with any offer/benefits/outcomes associated with our Products. Bajaj Allianz Life will not be responsible for any kind of repercussions on any decisions made by you basis the use of this calculator. For calculator purposes, it is assumed that the payments are made in advance i.e beginning of the month


Last updated: 2021-05-05