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Get One Step Closer To Life Goals with ULIP Policy

3 ULIP Policy Hacks For Your Life Goals

Get One Step Closer To Life Goals with ULIP Policy


September 05, 2018

By : Bajaj Allianz Life

To achieve important life goals like purchasing the row house of your dreams, commencing the start-up you have visualized, or planning for your child’s education, one requires corpus. The good news is that anyone can accumulate wealth by planning smartly on time with a well thought out goal-based investment plan.

Unit Linked Insurance Plans (ULIPs) that offer you the chance to achieve your life goals by providing a combined benefit of life cover and investment. Thus, the premiums invested in a ULIP policy have dual objectives –

  • ULIPs offer life cover, which provides financial security (based on policy type) to the family in case of the unfortunate demise of the breadwinner.
  • ULIPs offer investment opportunities, where your money earns market-linked returns and on completion of the policy term, a lump sum amount known as Maturity Benefit is paid. It not only inculcates a disciplined investment habit, but also allows investors to explore the power of compounding and take advantage of market growth and invest strategically to meet the life goals.

To illustrate, let’s see how a ULIP helps you save enough for your life goals.

Determine the requirement

Let us assume that an investor needs money to establish a start-up 10 years from now. With the help of various tools and calculators available digitally, he/she can have an estimate of the corpus that needs to be accumulated after 10 years for starting the business. Also, considering the capital required, they can find out the amount that needs to be invested in a ULIP today to get the desired returns. Thereafter, the investor can opt for the best ULIP for themselves by comparing the fund performances vis-à-vis the benchmarks and the subsequent returns offered by various ULIPs available in the market.

Take advantage of switching facility

ULIP stands out from other insurance plans as it allows flexibility to switch between funds as per the risk appetite of the investors. This provides an added benefit to make optimal returns through even volatile market conditions. For example, at the time of policy issuance, investor had opted for 70% investment in debt and 30% in equity. When the equity market conditions turn positive, then he/she can switch into equity from debt. Therefore this switching option in ULIPs help an investor to optimize their asset allocation, without any capital gains tax incidence.

Get rewarded for staying invested

ULIPs are long-term in nature, stretching for around 10-30 years. As a result, the policyholder is rewarded for staying invested for periods of 10 years and beyond.

Today, amongst the multiple investment options available in the market, the new-age ULIPs are one of its-kind as it encourages goal based savings with its long-term systematic investment option. Since long-term market investment tend to yield positive returns, the new-age ULIPs are ideal for those who would like to invest for a long-term goal.

Amongst the new-age ULIPs, Bajaj Allianz Life Goal Assure offers you two unique features that help you get more for your life goals, be it establishing a start-up or buying your dream home.

  • The Return of Life Cover Charges – Policyholders will get back the charges of the life cover deducted during the policy term, at maturity, thus enhancing the value of corpus on maturity.
  • The Return Enhancer – Customers who opt to receive the maturity benefit in installments (and not lump-sum) over a period of five years are entitled to this benefit. Here they get an additional 0.5% hike-up on each installment.

The other key features of the product are Fund Booster which is offered to investors with policy term of 10 years or more and Loyalty Additions for Annualized Premium of INR 5 Lakhs or more & for policy term 10 years or greater for paying premium regularly and staying invested for the term chosen.

A life goal-based ULIP like Bajaj Allianz Life Goal Assure play a significant role in aiding you realize your life goals and also help you move a step closure towards achieving them.

Learn why you should invest in ULIP now.

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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.