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Tips To Invest In ULIPs With Lower Charges

Updated On Jun 16, 2021

Unit-Linked Insurance Plans (ULIPs) are an efficient way to get insured and also, for wealth growth. Under these plans, not only do you get protection and life cover but also an avenue to grow your wealth. This is because ULIPs let policyholders invest in market-linked investment funds of their choice. There are many options that are usually available.

However, often people tend to think that ULIPs are expensive. They have multiple small charges which can seem costly. To let it not be a hindrance to your desires of buying a ULIP, here are some tips. Follow these tips to invest in ULIPs with lower charges.

Tips To Invest In ULIPs With Lower Charges

You can follow the below tips to save your money by investing in ULIPs with lower charges - 

1. Invest Long Term

Investments in ULIPs truly bring fruit when continued for the long term. It is always advised to invest for at least more than 10 years. You can easily withdraw after the lock-in period of five years and there is even a partial withdrawal facility in case of an emergency. However, it is best if you do not avail of these facilities and stay invested for a long time in order to lower your overall charges with respect to your ULIP.

2. Start at a Young Age

This is applicable for the purchase of all insurance plans, and especially for ULIPs- buy the plan as soon as possible. The older you grow, the more will be the risks involved. This will make insurance companies charge you with higher premiums. There are high mortality charges that will be applied if you are above fifty years of age, in the case of ULIPs. Plus, there might be health problems when you are older, which will make for high premiums.

3. Buy ULIPs Online

Contrary to popular belief, buying ULIPs online is completely safe and secure. In fact, it is more beneficial because they are available at cheaper rates. All the extra charges that you have to pay when buying a ULIP offline is not applicable online. Lack of distribution costs, agent charges and more reduce the cost of ULIPs greatly when you buy them online.

4. High-Value Life Covers are More Profitable

A high-value life cover will help you save more in the long run. Higher premiums mean you get to save the entire amount, with tax benefits and also get better life cover and protection. Keep paying your premium regularly and you will soon gather a substantial amount of funds that will only grow and add to your assets.


ULIPs are more beneficial and come with lower charges when bought online. Moreover, you can also browse through more varied options when you are purchasing a ULIP online. You can compare returns and premiums of multiple ULIPs before settling for one. Nevertheless, overall, all ULIPs have lower charges online.

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