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Get Market-Linked Returns with Tax Benefits$




* T&C apply | BJAZ-WB-EC-04728/23


$Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116.

$Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116.

Know Why ULIPs Do Not Invest Only In Equities

Unit Linked Insurance Plans (ULIPs) are investment-oriented policies that help you invest in different asset classes and earn market-linked returns.


Myth – ULIPs are solely an equity investment


When it comes to ULIP investments many people believe that ULIPs invest only in the equity market. As such, when the markets are volatile, a ULIP plan can be a risky investment. However, this is a myth. There is a whole other world of asset classes that ULIPs help you invest in, giving you the choice to invest as per your goals.


Reality – ULIPs offer a range of investment funds


In a ULIP, there are different types of investment funds. These funds invest in a range of asset classes apart from equity. Have a look at the types of funds that ULIP investments offer –

Type of fund

Securities that the fund invests in

Equity fund

Invests primarily in equity and equity-oriented securities

Debt fund

Invests primarily in debt instruments, i.e., fixed-income instruments

Balanced or hybrid fund

Invests in a combination of equity and debt instruments

Liquid/Cash/Money Market Fund

Invest in liquid assets such as money market instruments and short-term debt securities


A brief look into debt and equity funds


While ULIPs offer both equity and debt funds, let’s understand what these funds are all about –

1. Equity funds:

Equity funds, as the name suggests, invest predominately in stocks listed on the stock exchanges. Since these funds have high equity exposure, they carry a high-risk profile. Equity funds are commonly known as Large Cap, Mid Cap, Small Cap & Multi Cap/Flexi Cap funds depending upon its exposure to market cap. Historically, it has been seen that the equity funds have outperformed other asset classes in long-term therefore these funds have the potential of generating high returns over the years.

2. Debt funds:

Debt funds are less volatile compared with pure equity oriented funds. These funds invest in wide range of fixed-income securities that include bonds, Government securities, money market instruments, etc. Since these instruments pay a fixed rate of interest, they are less prone to market volatility. However, credit quality of the fixed income security and prevailing market interest rate cycle may impact debt funds return. Debt funds carry a low volatility risk and may offer low yet stable returns. So, if you are risk averse and do not want to invest in equity, you can always opt for a debt fund that a ULIP plan offers.


The switching benefit


There’s another feature under a unit-linked insurance plan that allows you to opt out of equity investments if you want to avoid risks. This feature is called fund switching. Switching means changing between the available ULIP funds. If you have invested in an equity fund and the market turns volatile or starts falling, you can transfer your investments to a debt fund to keep them stable. This transfer of investment is called switching and it is available under unit-linked plans depending on the terms and conditions of the policy.

Switching, thus, lets you change the funds in which the premium is invested under ULIP, whenever you need. few of the benefits of switching are as follows -

  • You can switch between funds of your choice when required
  • Some insurers may provide infinite free switches while some may provide a fixed number of free switches
  • You can switch your investment in any proportion. This means that you can switch a part of your fund value or the entire fund value to another fund at your discretion
  • You can also choose multiple funds to switch your investment. For instance, if you have invested in an equity fund and want to switch, you can switch to a debt fund or to a debt fund and a balanced fund depending on your needs.
  • There is no tax implication on switching between funds.

The premium redirection benefit


While switching allows you to change between investment funds, there’s another feature that allows you to direct your premiums to another fund, besides equity. This is called the premium redirection feature. Under this feature, you can choose to redirect your premium to another fund subject to policy terms & conditions.

For instance, say you choose the equity fund when buying the policy. Later on, you can choose the premium redirection feature and choose to invest future premiums in the debt fund. In this case, from the next year, your premium would be invested in the debt fund, not the equity fund.


The bottom line


Different investors have different risk profiles and investment strategies. Equity investment might not be preferred by all. That is why ULIPs allow a variety of investment funds for you to choose from. Moreover, the flexible benefits of switching and premium redirections help you manage your investments as per the changing market conditions and investment strategies.

So, explore the different ULIP funds that are available under the ULIP policy and choose one or more depending on your investment needs. If you are risk-averse and want to avoid equity, you can invest in debt funds that a ULIP offers and get the benefit of stable returns without volatility risks.


#Survey conducted by brand equity – Nielsen in March 2020

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

*Benefits are tax free subject to satisfaction of conditions mentioned in Section 10(10D) of Income Tax Act, 1961 and amendments made thereafter.

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.

In this policy, the investment risk in investment portfolio is borne by the policyholder. Investment in ULIPs is subject to risks associated with the capital markets. The policy holder is solely responsible for his/her decisions while investing in ULIPs. The views stated in this article is not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on carefully before concluding a sale.