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$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.

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ULIP NAV: How Does It Work?

A Unit Linked Insurance Plan (ULIP) offers life insurance and investment in a single plan.

The investment aspect of a ULIP may be simple to understand. Depending on your risk appetite, you may choose to invest in either equity funds, debt funds, a combination of both or in liquid funds. ULIPs can be purchased online as well as offline.

To manage your ULIP plan and the returns earned, you can simply log in on the insurer’s customer portal or application subject to their availability. Under plan details, you may also come across the term Net Asset Value (NAV) when you try to track your investment. If you do not know what NAV in ULIP is and what it indicates, please continue reading.


What is NAV in ULIP?


When you invest in a ULIP, your investment is divided into units. Each unit has a Net Asset Value or NAV. It represents the market value of the underlying assets. The NAV of a ULIP is the price at which units of a ULIP are bought or sold.

The NAV is typically expressed as a per-unit value, and it is calculated by dividing the total value of the assets (less liabilities) in the portfolio by the number of units of the policy. Use the below formula to compute the same:

NAV of ULIP = (Market value of investment held by fund + Assets of ULIP) - Liabilities of ULIP / Total number of existing units

The net asset value of the underlying assets changes based on the performance of the market-linked fund you have invested in. If your fund performs well, the NAV of your ULIP plan increases, and if your fund performs poorly, the NAV of your ULIP plan decreases.


Why Is The NAV Important?


The ULIP NAV is important as it helps you track the performance of your ULIP. You may check the NAV of your ULIP to understand how your investment is performing. Tracking your investments and returns helps you to make switches and changes in your ULIP fund allocation.

The NAV of a ULIP plays a crucial role in determining the returns you receive on your investment.

For example, considering the fund value of Rs.1 lakh after liabilities for 10,000 units. Then NAV will be Rs. 10.

If you have invested at NAV of Rs. 10, which now has increased to Rs. 12, then it shows that your investment has grown. Similarly, if the NAV goes down from Rs. 10 to Rs. 9, then it shows that your investment is at a loss.

The returns on your ULIP may be calculated based on the difference between the NAV at the time of investment versus the NAV at the time of redemption.


What If The NAV of Your ULIP Is Low?


The NAV of your ULIP changes as it is market linked. Due to market volatility, it may get adversely affected. For example, if you have invested in a fund (Equity, Debt or Hybrid) and the markets are down, your NAV may reduce as well.

If the fund is not aligned with your risk appetite and return expectation or you want to change your ULIP portfolio’s asset allocation, you may consider fund switching or premium redirection features available with ULIPs. Fund switching is a feature that may allow you to switch your fund allocation to another asset type that you want. With the premium redirection feature, you may redirect your premium to another fund of your choice.

Knowing the NAV of your plan allows you to take important decisions regarding your investment.




The NAV of a fund is it's per unit value1. It determines the number of units that you can get for a given investment amount. Changes in the NAV signify changes in the fund value wherein you make a profit if the NAV rises and a loss if it falls2.

Understand what a ULIP NAV is all about and how it is calculated. Assess the historic NAV of the fund that you have selected to estimate the fund’s performance** consistency and then invest.




1. How is NAV calculated?

The formula to calculate the NAV of a fund is as follows1 -

NAV = (Market value of the investment held in the fund’s portfolio + Existing assets of the fund) – Existing liabilities of the fund / Total number of existing units.

The NAV is calculated daily as the portfolio’s value fluctuates with a change in the markets.


2. What does NAV indicate?


NAV indicates the current market value of each unit of the fund2. It depicts the number of units that you will get when you invest a specified amount in the fund. At the time of redemption, NAV indicates the total value that you will get based on the number of units that you redeem.

For instance, if the NAV of the fund is Rs. 10 and you invest Rs. 10,000, you will get 1000 units at the time of investment. On the other hand, if the NAV of the fund is Rs. 15 and you want to redeem 1000 units, you will get Rs. 15,000.

Common References





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

**Past performance is not indicative of future performance.

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 are 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 the sales brochure & policy document (available on carefully before concluding a sale.