Unit Linked Investment Plan is more commonly known as ULIP that bring outs the best of both insurance and investment. ULIP provides the opportunity to invest in the money market and life insurance cover together. It enables you to invest your money in bonds, stocks, and mutual funds that not only provide insurance coverage but also accumulate wealth. Apart from this, according to your risk appetite, you can also invest in equity, hybrid funds, and debt. With dual benefits of investment and insurance, ULIP also has the feature of switch your fund options as per the condition of the money market.
While selecting a ULIP plan, it is suggested to be aware of the risks and market first; here we are discussing the top five ULIP fund plans 2019:
ICICI Prudential Smart Life Plan:
A ULIP plan that is oriented towards the children is ICICI Prudential Smart Life Plan. This plan has an inbuilt add-on to waive premium. The top benefits of this plan are:
The plan continues even after the death of the policyholder and after the payment of the death benefit. The insurance company pays the insurance premium until the plant matures and the fund value is paid.
Wealth boosters and loyalty additions are added in this ULIP fund plan 2019.
The two portfolio strategies included in this plan are – lifecycle based portfolio strategy and fixed portfolio strategy.
Edelweiss Tokio Wealth Ultima:
The Wealth Ultima plan offered by Edelweiss Tokio offers various benefits to its customers. Due to the advantages of this plan, it is considered as one of the best ULIP plans in 2019 for the current time. The noteworthy benefits of this plan are:
According to the pre-defined strategies of the investment, an insured has the choice to manage his/her investment options by him/herself or ask the insurance company to manage.
The investment strategy – Under the Systematic Transfer Plan (STP) protects the gains from the volatile moments of the market.
Systematic Monthly Plan feature provides an option to give monthly premiums.
This ULIP fund plan 2019 also has a Systematic Withdrawal Plan feature that allows systematic withdrawal of the fund value. This helps to generate a regular source of income.
There is no age limit in this plan, one can take it for lifelong until he/she attains 100 years.
Loyalty additions, wealth booster, and guaranteed additions are some of the additional benefits provided in this plan.
HDFC Life Click 2 Invest:
It is one of the reputed insurance companies that provide some of the best ULIP fund plan 2019. The basic features of HDFC Life Click 2 Investplan are:
In case of death of the policyholder, fund value or sum assured whichever is higher is paid.
There are basically eight investment funds to select from.
The Regular premium payment option is provided for a limited period or one can opt for one lump sum.
The plan does not apply for any admission or allocation charges.
SBI Life Wealth Assure:
A single premium ULIP fund plan 2019 is SBI Life Wealth Assure. The plan offers guaranteed return on the investment as per the market performance with the advantage of life protection. The benefits provided under this plan are:
The plan provides two investment funds to select from.
The fund value is provided as maturity benefit upon the maturity of the plan.
In the situation of the unfortunate demise of the insured, the beneficiary gets the death benefit as the sum assured or fund value, whichever is higher or 105 percent of the total premium that is paid.
The accidental death benefit is provided as rider benefit under this plan.
Bajaj Allianz Life Future Wealth Gain Plan:
This plan is the enhancement of the Bajaj Allianz Life Future Gain Plan. The salient features of this plan are:
This plan has two variants – Wealth Plus Care and Wealth Plus
If cancer is diagnosed during the tenure of the plan, regular income is provided which is equal to the annual premium that one has paid in the policy.
The plan offers inbuilt cancer cover; one does not have to purchase an add-on for the same.
The plan also offers various optional add-ons.
The fund booster and loyalty additions are two add-ons that help to enhance the fund value.
Summing it Up!
These are top ULIP fund plan 2019 from which you can select one as per your requirements. However, the selected plan should help you to meet your future goals. Keeping watchful and cautious are some of the keys to select the most suitable ULIP plan.