A ULIP splits your premium between life cover and market-linked funds you select. Returns depend on how those funds perform, and you can usually switch between equity, debt and balanced options as your risk appetite changes.
ULIPs reward a long horizon. Charges and lock-in periods make them unsuitable for short-term money, and we will say so before recommending one.
Who needs this cover
Investors comfortable with market risk
People with a horizon of ten years or more
Those who want to combine investment with protection
Key benefits
Choice of equity, debt and balanced funds
Free fund switches, subject to the product terms
Life cover alongside investment
Partial withdrawals after the lock-in period
What is typically covered
Fund value on maturity
Higher of sum assured or fund value on death, as per the product
Top-up premium facility where available
Eligibility
Entry ages typically 18 to 60 years
Minimum five-year lock-in applies
Key exclusions and limitations
Returns are not guaranteed and depend on fund performance
Charges apply as set out in the benefit illustration
Suicide clause in the first policy year
Exclusions differ between insurers and product variants. Always read the policy wording for the exact list.
Claim information
On death, the nominee receives the benefit defined by the product. Fund values are computed at the applicable NAV. We help with documentation and follow-up.
Information on this website is educational and advisory in nature. Insurance products, benefits, exclusions, waiting periods and claim outcomes are subject to the terms and conditions of the respective insurer's policy document and applicable IRDAI regulations. Please read the policy wording carefully before concluding a sale.
Frequently asked questions
Because your income supports people who would still have expenses if it stopped. Life insurance replaces that income so your family can maintain their standard of living, meet loan repayments and keep long-term goals such as education on track. If nobody depends on your income, you may not need it — that is a legitimate answer, and we will tell you so.
A common starting point is ten to fifteen times your annual income, then adjusted for outstanding loans, the number of years your dependants would need support, children’s education costs and any existing cover. A Financial Need Analysis works this out properly for your situation rather than applying a rule of thumb.
Yes. You can hold multiple life and health policies with different insurers. For life insurance, all policies pay independently. For health insurance, claims are settled between the insurers up to actual expenses. You must disclose existing cover when applying for new cover.
Yes — claim assistance is part of the relationship, not an extra service. We help with intimation, documentation, coordination with the insurer or TPA, and follow-up until settlement is tracked to a close. The final claim decision rests with the insurer and is governed by the policy wording and applicable regulations.
Age, sum insured, policy term, health and medical history, lifestyle factors such as smoking, occupation, and the riders you select. For motor insurance, the vehicle’s value, age, engine capacity and location apply. Buying earlier generally locks in a lower premium for the whole term.
It is the time that must pass before certain conditions can be claimed. Health policies typically have an initial period of around 30 days covering everything except accidents, specific waiting periods of one to two years for listed conditions, and a longer period for pre-existing conditions. The exact periods are stated in your policy schedule.
