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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 will only help with estimated returns.

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.

Flexibility

Flexibility

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.

Control

Control

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:

Bajaj Allianz Life Smart Wealth Goal

Bajaj Allianz Life Smart Wealth Goal

Bajaj Allianz Life LongLife Goal

Bajaj Allianz Life LongLife Goal

Bajaj Allianz Life Goal Assure

Bajaj Allianz Life Goal Assure

Bajaj Allianz Future Gain

Bajaj Allianz Future Gain

Bajaj Allianz Fortune Gain

Bajaj Allianz Fortune Gain

Bajaj Allianz Life Future Wealth Gain

Bajaj Allianz Life Future Wealth Gain

Bajaj Allianz Future Gain

Bajaj Allianz Future Gain

Bajaj Allianz Life LongLife Goal

Bajaj Allianz Life LongLife Goal

Bajaj Allianz Fortune Gain

Bajaj Allianz Fortune Gain

Bajaj Allianz Life Goal Based Saving

Bajaj Allianz Life Goal Based Saving

Bajaj Allianz Life Principal Gain

Bajaj Allianz Life Principal Gain

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.

Life Insurance Guide – Related Articles

How To Manage Your ULIP Policy

A unit linked insurance plan (ULIP) is the only market-linked investment option that gives you the triple advantages of insurance protection, wealth generation and tax benefits. Not only that, some ULIP policies gives investors the flexibility of switching funds free of charge to maximize returns.

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How Much Wealth Can You Create From ULIP in 10 years?

A Unit Linked Insurance Plan (ULIP) is considered as one of the most preferable means of investment today. ULIP Investment, which was once associated with higher costs, has changed the game for itself due to low costs and potential to earn high returns. A majority of investors prefer investing in a ULIP since they are looking at maximizing returns over the long run. However, an investor can yield desired gains if he/she invests in the right funds based on his/her risk appetite for a long term. One can seek advice from subject matter experts before taking a decision.

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4 ULIP Benefits You Can Take Advantage Of

There goes a saying, The early bird catches the worm'. In literary sense, it means that a person will have an advantage if they do or start something early. In the world of investments it means that the earlier a person starts investing, the more time their money will have to grow. Thus, starting to invest early towards your life goals is one of the best financial steps you can take.

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Last Updated By Bajaj Allianz Life on

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05/Mar/2021

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