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Best Unit Linked Insurance Plan (ULIP) In 2024

Updated On Feb 15, 2024

Investors in Unit Linked Insurance Plans can also swap their investments from debt to equity and vice versa without having to run from pillar to post or worry about getting charged. Unit Trust of India (UTI) was the first to establish ULIP plans in India in 1971. This was followed by Life Insurance Corporation's ULIP offers in 1989.

Due to the hefty fees associated with this insurance investment product, many investors were initially unwilling to participate in ULIP plans. However, major life insurance companies such as Bajaj Life, HDFC, ICICI Prudential, and Edelweiss Tokio have recently launched new-age ULIP policies with bare minimum rates and many features to provide maximum profits and comprehensive insurance coverage.

Best ULIP Plans To Buy In India in 2024

The following are some of India's greatest ULIP plans:

1. Edelweiss Tokio Wealth Plus Plan

Because of its features and benefits, Edelweiss Tokio Wealth Plus is truly a new age plan, providing policyholders with an exceptional opportunity to invest while also ensuring their future. When you invest, the corporation invests with you by allocating additional funds. If you stay invested for the following 20 years, the company will invest 1% of your premium in your funds for the first five years, then 3% from the sixth to the tenth year, then 5% from the eleventh to the fifteenth year, and finally 7% from the sixteenth year onwards.

Must Read: What Is The Minimum Lock-in Period For ULIP?

2. HDFC Life ProGrowth Plus Plan

HDFC Life Click 2 Wealth Plan is a ULIP that provides the policyholder with market-linked returns and serves as an insurance policy for the policyholder and their family. It is a non-participating insurance plan, which implies that the policyholder receives no bonuses, dividends, or other benefits. This is because the insurer does not merely "participate" in the insurance company's activity under this scheme.

There is a clear distinction between the policyholder and the Life Assured in this plan. Under the premium waiver option, either the proposer or the policyholder will be responsible for paying the premiums. In the event that the proposer/policyholder passes away during the plan's term, all future payments are forfeited.

3. ICICI Pru Signature Plan

This particular savings plan can help you earn higher returns while also providing life insurance for your loved ones. Systematic withdrawals are included in the plan, allowing you to make regular withdrawals from the policy. Characteristics: This plan does not contain any premium allocation fees.

Sections 80(C) and 10(10D) of the Income Tax Act of 1961 provide tax benefits on premiums paid. Starting with the end of the 10th policy year offer wealth boosters at the end of every 5 years. Provides life insurance coverage up to the age of 99.

4. Canara HSBC OBC Invest 4G Plan

The ‘Invest 4G' Unit Linked Insurance Plan has been launched by Canara HSBC Oriental Bank of Commerce Life Insurance (Ulip). It is an individual life insurance savings plan that may be tailored to the individual's goals and changing needs. This Unit Linked Individual Life Insurance and Savings Plan offers a combination of Portfolio Management Options and flexibility, allowing you to choose the level of protection that best suits your needs while also allowing you to prepare for your future goals.


A Unit-Linked Insurance Plan (ULIP) is a comprehensive investing and insurance package that aids in wealth accumulation. ULIPs are typically clear and adaptable, allowing a person to tailor his or her plan to meet his or her specific needs. It provides insurance coverage while also allowing you to invest a portion of your premium in qualifying investment options such as stocks, bonds, mutual funds, and more.

Also Read: What Are The Benefits Of ULIPs?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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