4 min read
Updated on Jul 13, 2022
Unit Linked Insurance Plans, popularly called ULIP, is one of the most effective and trustworthy investment instruments these days for saving tax. It comes with growth in wealth and life insurance protection. One of the advantages of ULIP that sets it apart from all the other investment tools is the tax-saving benefit option that is available due to flexibility. This is an investment plus insurance tool in which the policyholder gets life cover as part of the investment plan. This is a consistent option that helps in fulfilling the wealth creation goals in the longer run. One of the reasons for this is the combination of tax savings, returns, and insurance.
Although more popular for its short lock-in period and better returns, ULIP is also getting attention for saving taxes. Let us try to find some of the things that you should know about ULIP tax benefits.
Read More: Beginner’s Guide to ULIPs and Their Benefits .
Now that we know the tax benefits that come along with ULIP, let us also discuss the features as well as benefits of ULIPs.
Also Know: 11 ULIP Charges You Should Be Aware Of
Mentioned herein below are some of the best ULIP plans that you can come across.
|Company name||Name of plans||Minimum age||Minimum premium|
|Life Insurance Corporation of India||LIC Endowment Plus||90 days – 50 years||INR 3,000|
|HDFC Life Insurance||HDFC Life ProGrowth Plus||14 – 65 years||INR 2,500|
|HDFC Life Insurance||HDFC Click 2 Wealth||30 days – 60 years||INR 3,000|
|SBI Life Insurance||SBI Life Wealth Assure||8 – 60 years||INR 4,166|
|ICICI Life Insurance||ICICI Pru Signature||30 days – 60 years||INR 5,000|
|Bajaj Allianz Life Insurance||Bajaj Allianz Future Gain||1 – 60 years||INR 2,500|
You can check out some other Unit Linked Insurance Policies online and make a selection basis your financial goals and financial cover sought.
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