Investment Plans October 12, 2021

A unit-linked insurance plan (ULIP) offers you the benefit of life cover and investment with which you can protect your family as well as plan your future. But does it provide coverage up to 99 years? Yes, many ULIPs offer a long-term benefit to the insured. A whole life ULIP plan ensures that your family is secured for the long term and your investment grows at market rates. You can check out the whole life ULIP Plans on the page below. So continue reading.

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List of Whole Life ULIP Plans

Check out the offerings of the following Whole Life ULIP Plans and see which suits your financial needs.

HDFC Life Click 2 Wealth

HDFC Life Click 2 Wealth offers you Golden Years Benefit Option, wherein policyholders can get the cover till 99 years of age. It could be a good tool for your retirement planning by which you can build a corpus for your golden years and secure your loved ones. You can choose the systematic withdrawal facility to generate recurring post-retirement income from your accumulated fund. Once this option is chosen, it cannot be altered throughout the policy term.

The total cumulative amount of mortality charges deducted during the policy term shall be added to your fund value at the end of the policy year coinciding with your 70th birthday. Special Additions shall be added to your fund at the time of premium allocation for the first 5 policy years, subject to 1% of the annualized premium.

The minimum premium amount payable under this whole life ULIP Plan is as follows –

  • Annual – INR 12,000
  • Half-yearly – INR 6,000
  • Quarterly – INR 3,000
  • Monthly – INR 1,000

The premium payment term under Golden Years Benefit Option is Limited Pay. Your premium payment term is decided as 10 to 70 minus the age at entry. The minimum and maximum entry age are 0 years (30 days) to 60 years, respectively.

At maturity, you will receive the Fund Value at the prevailing unit price. You can take your fund value at maturity in periodical installments or a lump sum. In case of your death, the highest of the following shall be payable to the nominee –

  • Total Sum Assured – Partial Withdrawals, if any
  • Fund Value
  • 105% of Total Paid Premiums

You can invest in any of the following funds available under the HDFC Life Click 2 Wealth –

  • Diversified Equity Fund
  • Blue Chip Fund
  • Balanced Fund
  • Bond Fund
  • Discovery Fund
  • Equity Advantage Fund
  • Opportunities Fund
  • Liquid Fund
  • Bond Plus Fund
  • Secure Advantage Fund

ICICI Pru Signature

ICICI Prudential Life Insurance provides you a whole life cover up to 99 years with the benefit of investment under its Signature plan. The minimum premium amount for whole life cover is INR 60,000 per annum. And the minimum and maximum sum assured is as follows –

Age at Entry (In Years)Minimum Sum AssuredMaximum Sum Assured
0 to 447 X Annualized PremiumHigher of (10 X Annualized Premium) and
( (70- Age at entry) X 0.5 X Annualized Premium)
45 to 587 X Annualized Premium10 X Annualized Premium
59 to 607 X Annualized Premium7 X Annualized Premium

On maturity, you will receive the Fund Value plus Top-up Fund Value, if any. You can receive the Maturity Benefit either as a lump sum or as a structured payout using the settlement option. In case of death of the Life Assured during the policy term, the highest of the following will be payable to the Nominee / Legal heir.

  • Sum Assured + Top-up Sum Assured, if any
  • Minimum Death Benefit
  • Fund Value + Top-up Fund Value, if any

Note – Minimum Death Benefit is equal to 105% of the total paid premiums, including Top-up premiums, if any.

You can invest your money in any of the following funds –

  • Focus 50 Fund
  • Opportunities Fund
  • Value Enhancer Fund
  • Multi Cap Growth Fund
  • Bluechip Fund
  • India Growth Fund
  • Maximiser V
  • Maximise India Fund
  • Multi Cap Balanced Fund
  • Active Asset Allocation Balanced Fund
  • Secure Opportunities Fund
  • Money Market Fund
  • Income Fund
  • Balanced Advantage Fund
  • Sustainable Equity Fund
  • PNB MetLife Smart Platinum Plus

PNB MetLife Smart Platinum Plus

PNB MetLife Smart Platinum Plus provides whole life cover to you with the benefit of investment across a wide range of funds. You’ll get two options under this whole life ULIP –

Option 1 Wealth Option

Under this option, you’ll get life up to the age of 80 years, i.e. policy term will be equal to 80 minus age at entry.

Option 2 Wealth + Care Option

The insurance company provides you cover up to the age of 99 years, i.e. policy term will be equal to 99 minus age at entry. Here, you’ll get coverage against the following critical illnesses.

  • Cancer of Specified Severity
  • First Heart Attack – of specified severity
  • Open Chest CABG
  • Kidney Failure Requiring Regular Dialysis
  • Stroke resulting in Permanent Symptoms

Maturity Benefits

On survival till the end of the policy term, you’ll receive an amount equal to the total fund value as on the maturity date.

Death Benefit

In case of your death, the insurer shall pay the highest of the following to the nominee – ]

  • Fund Value
  • Sum Assured – Partial Withdrawals made 2 years before the death
  • 105% of the total paid premiums excluding partial withdrawals made 2 years before the death

You’ll get the following fund options under PNB MetLife Smart Platinum Plus –

  • Protector II
  • Bond Opportunities Fund
  • Liquid Fund
  • Balancer II
  • Balanced Opportunities Fund
  • Multiplier III
  • Premier Multi-cap Fund
  • Mid Cap Fund
  • CREST (Thematic Fund)
  • Flexi Cap
  • Virtue II

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