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Fund Switching In ULIPs – All You Need To Know

4 ULIP fund switching benefits

Fund Switching In ULIPs – All You Need To Know


February 21, 2020

By : Bajaj Allianz Life

When investing in ULIP plans you have an option to invest in equity funds, debt funds or combination of equity and debt funds. What’s more, ULIP plans offer you the option to switch between these funds as per your investment needs and risk appetite.Fund switching allows you to move your investments partially or fully from one fund to another fund within the same ULIP plan.

Switch to maximise returns

We all know that asset allocation is key in determining returns from one’s portfolio. ULIP fund switches give investors the freedom to alter their asset allocation according to market conditions, risk appetite and life goals. This helps them capitalize on returns on their investments, thus helping them achieve their life goals.

Here are top 4 benefits that ULIP fund switches offer:

1. Invest according to your risk appetite: Risk appetite is nothing but the amount of risk an investor can handle. Risk appetite differs from investor to investor. If you are an aggressive investor, you may have a majority of your investments in equity. If you have a lower risk appetite, you may choose to have a larger portion invested in debt. The risk appetite of an investor also changes with changes in life stages. As you grow older and move nearer to your life goals, your risk appetite decreases as your financial obligations go up. ULIP fund switches give you the flexibility to switch your investments from equity to debt and vice versa depending on your changing risk appetite.

2. Protect your investment options from market fluctuations: As an investor it is not possible to time the markets. However, there are times when an investor may want to make necessary adjustments to his portfolio due to market conditions. For example, if an investor foresees that the markets will go down in the immediate future, he can switch a portion of his investments into debt or liquid funds so that his capital is protected. Later he can make a switch back to equity funds when the markets are on their way up. This way ULIP fund switching can help an investor optimise his returns.

3. Aligning your portfolio to your life goals: ULIP fund switches also let you align your portfolio to your life goals. Let us take an example. If you are in your early 30s and saving for retirement, which is a major life goal, you are in a position to take more risks with your investments. So a large portion of your ULIP portfolio can be in equity funds. As you are nearing retirement age, it is prudent to move your investments into debt ULIP funds in a steady manner to reduce your risk. While the decision depends on your risk appetite, ideally you should start with a 90-100 per cent equity allocation and decrease your equity portion as you near your life goal.

4. Taxability: Another major advantage of ULIP fund switches is that it does not attract any capital gains tax which means there is no tax implication for any fund switches in ULIPs. And many new-age ULIPs allow you to do multiple switches without any transaction costs. Therefore, it allows an investor to plan their asset allocation in a more tax-efficient manner.

How to make fund switches?

You can exercise your fund switching options in two ways. One is to use the insurance company’s self-servicing customer portals either on company’s website or through customer servicing apps. The other way is by submitting a signed form to the nearest branch of the insurer mentioning the amount of transfer, name of the existing ULIP fund and the new ULIP fund chosen. Most of the ULIPs today offer unlimited free fund switches. Some ULIP plans, however, charge a fee after a given number of switches.

ULIP fund switches offer you the flexibility to change your asset allocation between equity and debt when required. If done smartly ULIP fund switches can help you maximise the returns and meet your life goals.

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~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information.