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A ULIP policy is a type of life insurance plan that offers dual benefits, life cover and the option to invest in the financial market for wealth creation.... Secure your family while creating wealth for your financial future with Tata AIA Life Insurance Wealth Solutions with 28.66% returns*
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A Unit Linked Insurance Plan, the ULIP Policy, is a life insurance plan that combines life insurance coverage with investment options.
The life insurance component - One part of the ULIP premium is utilised for providing the life cover that provides the death benefit to your loved family members in the event of your unexpected demise.The investment component - The other part of the premium is utilised to invest in the financial securities market. In addition, you can choose to invest in equity, debt, or hybrid funds based on your risk profile. Furthermore, ULIP insurance offers the option to switch between the fund options to help you adapt and grow with the varying market conditions.In ULIP Policy, The Investment Risk in Investment Portfolio Is Borne by The Policyholder
Solution Composition
Param Raksha Life Pro+ is designed for combination of benefits of following individual and separate products named (1) Tata AIA Smart Sampoorna Raksha Supreme Unit Linked, Non-Participating Individual Life Insurance Plan (UIN: 110L179V01) and (2) Tata AIA Vitality Protect Advance - A Non-Linked, Non- Participating Individual Health Product (UIN: 110N178V01).
Tata AIA
Non-Participating, Unit Linked Individual Life Insurance Savings Plan (UIN:110L174V01)
Updated as on
ULIP plans offer market-linked returns8 along with the benefit of life cover.
Once you pay your premiums, you can stop worrying about your investment, as our expert fund managers will manage the funds on your behalf.
With ULIP Plans, you can choose from multiple fund options and switch between the funds to ensure that your investment continues growing in the market.
Once the lock-in period is through, you can make partial withdrawals on your ULIP policy and fulfil any financial commitments as needed..
The premiums paid for ULIP plans are eligible for Section 80C tax deduction, and the payouts qualify for Section 10(10D) tax exemption, subject to the applicable tax7 laws.
ULIP Plans offer adequate flexibility to the policyholder, be it the fund options, fund allocation and policy tenure.
ULIP Plans are known for the dual advantage of investment and insurance they offer under a single policy. The life insurance cover will secure your family in your absence, and the investment option will help you create wealth for your future financial goals.
With a ULIP policy, you can choose between equity, hybrid, and debt fund options based on your high-risk, medium-risk, or low-risk profile. For example, young earners can choose a high-risk equity fund, and a person nearing retirement can choose a low-risk conservative debt fund.
You can keep track of the performance of the ULIP funds based on the market movement and switch between them to enhance the potential gains.
ULIP investment Plans have a mandatory lock-in period of 5 years After the lock-in period, you can make partial withdrawals on your ULIP policy to meet any immediate financial needs.
A ULIP calculator is an online tool that helps you know the maturity amount or the ULIP returns that you can receive from your Unit-Linked Insurance Plan and determine the applicable premium. Once you provide a few details about your investment and other requirements based on the ULIP features, you can determine the premium and the expected returns.
With the help of the ULIP calculator, you can make a reasonable comparison and analysis instead of simply going by the ULIP charges, which is only one factor for selecting a ULIP
One portion of the ULIP Premium is utilised to provide life coverage, and the other portion is utilised to invest in equity, hybrid, or debt funds based on your risk appetite.
In the event of your unexpected demise, your nominee will receive the death benefit or the ULIP fund value, whichever is higher. And if you survive the policy period, you will get the fund value as the maturity benefit. While you decide on the fund option based on your risk profile, you can revise your decision and switch to a different fund option, considering the fluctuating market conditions to grow with the changing market leaders.
Types Of ULIP Plans
Based on Fund Options:
Types of Funds Options |
Details |
Equity-Based ULIP Funds |
In Equity ULIP funds, the premium is utilised to purchase equities of multiple companies. These funds are quite closely connected to the market movement and, therefore, carry higher risks. However, as risk is proportional to returns in the financial market, high-risk equity funds can yield higher returns over the long term. |
Hybrid or Balanced Funds |
Hybrid funds or balanced funds are a combination of equity funds and fixed-interest instruments and are suitable for medium-risk investors. Such funds provide adequate exposure to the market, and the debt investments balance the risk in equity. |
Debt-Based ULIP Funds |
Debt funds offer investments in debt instruments such as corporate bonds and government securities. They are low to moderate-risk investments and are considered safe for conservative investors. However, the returns are lower compared to Equity or Balanced fund options. |
Cash Funds |
Also known as money market funds, these funds are considered to be low-risk investments since they invest in bank deposits, cash, and money market instruments |
Based On Purpose:
Purpose Driven ULIP Solutions |
Details |
ULIP Plans for Wealth Creation |
A ULIP can be used to create and grow wealth through market-linked investments over the long term to meet financial goals and significant expenses that regular savings cannot fulfil. |
ULIP Plans for Children’s Education |
The returns from a ULIP can be used to fund your child’s education if you align the investment horizon and the goals. You can also make partial withdrawals from the ULIP after the 5-year lock-in period to make tuition fee payments, plan higher education, etc. |
ULIP Plans for Health Benefits |
ULIP returns can be used as a future emergency fund in case of medical emergencies. Moreover, you can also add an optional health rider9 to your ULIP so that you can be protected against the costs arising from a health emergency. |
ULIP Plans for Retirement |
You can make long-term investments in ULIPs, and the returns received can be used to help you lead a comfortable life during your retirement years and handle financial emergencies when you have no steady source of income. |
As ULIP Plans offer life insurance and extended investment benefits, there are a few charges associated with managing the policy that you need to know.
A percentage of the premium paid on the policy that is charged on the allocation of the premium allocation in different funds under the Unit-Linked Insurance Plan is known as the premium allocation charge.
This charge is a percentage of the value of all the assets and is calculated, mostly on a daily basis, by adjusting the Net Asset Value of the fund. This charge is levied at an annual rate and is divided by 365 and then multiplied by the number of days that have passed since the last unit valuation date.
This charge is a percentage of the Single / Annualised premium and is calculated monthly at each anniversary by deducting the units starting from the date of the policy inception.
These are the charges levied for offering the life insurance risk cover to the policyholder during the policy tenure. These charges are guaranteed for the whole policy term and are levied on the age of the policyholder and the risk.
If you choose to surrender your policy, then a charge will be levied on the fund value when the policy is discontinued or when the funds are withdrawn, whichever comes first.
To ensure that you can manage and customise your own investments, some Tata AIA Life Insurance plans offer unlimited switches for each policy year, which is free of cost.
Some ULIPs allow a maximum of 6 premium redirections or future premium allocations for each policy year, which are all free of charge. Premium redirections after this will attract a fee. Tata AIA Unit Linked Products like Fortune Pro, Fortune Maxima, Wealth Pro, Wealth Maxima, etc., do not have any premium redirection charge.
After the mandatory lock-in period of 5 years, you can make partial withdrawals from your ULIP each policy year. The number of free partial withdrawals allowed may vary from product to product.
Hands-on Investors: Investors who prefer tracking fund movements regularly for increased gains can invest in ULIP. While fund managers manage your funds, it is always based on your preferences. Since ULIP Plans provide the flexibility of switching between funds, hands-on investors can track their market performance and make changes to their funds to get better returns.Investors Across Different Life Stages: ULIP Plans are investments that are flexible enough to meet the needs of investors across different age groups. For example, someone who has just started their career and would like to build their wealth can start investing in an equity based ULIP fund option and also avail of a life cover to protect their family. On the other hand, a married individual with a family can choose a balance between risk and return with hybrid funds and the life cover it offers.People with Varying Risk Appetites: ULIP Plans are known to offer a variety of options in debt, equity, and hybrid funds that cater to investors of all kinds. Aggressive investors and conservative investors can also choose the funds based on their risk appetite and the type of returns they seek. By keeping an eye on the historical Net Asset Value (NAV), an investor can find the fund they are looking for.Investors with Medium to Long-Term Investment Horizon: Investors who are looking for long-term investments tend to opt for ULIPs since this investment is better suited for medium to long-term goals. With a mandatory lock-in period of 5 years, ULIPs help investors prepare for their future financial goals that are planned out for 5-10 years or more.Since each investor has different goals, first, be sure to analyse your personal goals and the time needed to achieve them, and then look for a ULIP investment plan that will help you fulfil these goals within the given investment horizon.
ULIPs also offer the benefit of a life insurance cover that can be adjusted to meet your needs. If you have more financial liabilities and commitments, the insurance protection should also be more significant so that your family can be protected.
Not every investor’s risk profile and risk appetite are the same. Therefore, when choosing a fund, risk-averse investors choose plans with low-risk funds, while aggressive investors opt for plans with high-risk funds.
Since all ULIP Plans will be different, you will need to compare the plans to understand which ULIP features, benefits, and funds are better suited for your investment goals.
ULIPs have funds whose performances are linked to the market. To ensure that you have a good selection of funds in your plan, check the fund performance of our Unit Linked Insurance plans so that you can make the most out of your investment.
ULIP plans should offer a flexible tenure as per your investment horizon as well as a good choice of funds so that you are not restricted to limited options that may not be aligned with your investment goals.
ULIPs carry certain charges, such as fund management expenses, premium allocation charges, etc., that can affect your investment value. Therefore, keep these ULIP charges in mind before you start investing in a ULIP.
The insurance company that offers the ULIP policy should have a good solvency ratio. This term means that the company’s financial health is good, and you will be able to receive your ULIP returns and benefits as and when they are due.
Your insurer’s claim settlement ratio will also matter while choosing a Unit-Linked Insurance Plan since this figure indicates the number of claims they have settled against the number of claims they receive in a financial year.
When you purchase our ULIP plans online, you can make an independent and informed decision based on your research using online reviews, the information on our website, and our ULIP brochures.
You can check and evaluate our top-performing funds online by viewing the NAV. Click here to view the NAV of our ULIP funds.
Our convenient and quick online experience ensures that you can refer to all the information on our website, easily get in touch with our customer service team for any queries and make easy online payments through your preferred online payment mode.
Start investing in a ULIP scheme early in life. It will help you choose a longer policy period that helps minimise the risk of short-term volatility. Also, you can pay an affordable premium for the required coverage and the expected returns.
Choose fund options based on your risk profile and plan to invest in it for the long term. Make use of the switching option to maximise the returns based on the prevailing market conditions.
It is important that you review your ULIP policy in a timely manner to make the necessary revisions and align the investment based on your changing requirements or market conditions.
Managing ULIP funds can be based on your investment preferences. At Tata AIA, you can choose the investment approach based on the following options to manage your ULIP funds.
Custom preference: It refers to manual selection, which means you can choose the fund options based on their performance and requirements all by yourself!Minimise losses: If your objective is to minimise losses, we provide fund options that offer intermediate growth and ensure safety.Maximise gains: If you want to maximise the potential gains, we offer fund options for high growth with risk.Both equally: We also offer options to balance risk and return for your investment goals.Automatic Asset Allocation: We offer the Enhanced SMART (Systematic Money Allocation & Regular Transfer) for a structured investment into the volatile market based on your choice of an equity-oriented fund and a debt-oriented fund.While purchasing a ULIP scheme, ensure to choose an adequate life cover that will protect your family's financial future by helping them manage their routine lifestyle, clear off debts, etc.
Utilise our Tata AIA ULIP calculator to determine the most affordable premium to ensure you stay invested during the long term for increased benefits.
Make yourself aware of the ULIP charges and their impact on the returns to make wise investment decisions.
As ULIP plans have a life cover component, be transparent about your medical history for adequate coverage and avoid hassles during claim settlement.
Ensure to make regular investments to avoid missing a premium payment that can affect your life cover and investment objectives. It can lead to a policy lapse that can affect the investment returns.
Death Benefit
Fund Value
Maturity Benefit/ Survival Benefit
Partial Withdrawal
Surrender Value
Switch Funds
Top-Up Premium
ULIP Charges
Last updated on 27th Jan 2025.
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The fund is managed by Tata AIA Life Insurance Company Ltd. For more details on risk factors, terms and conditions please read Sales Brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
Past performance is not indicative of future performance. Returns are calculated on an absolute basis for a period of less than (or equal to) a year, with reinvestment of dividends (if any).
Investments are subject to market risks. The Company does not guarantee any assured returns. The investment income and price may go down as well as up depending on several factors influencing the market.
Please make your own independent decision after consulting your financial or other professional advisor.
Tata AIA Life Insurance Company Limited is only the name of the Insurance Company & the Unit linked insurance product with Tata AIA /Tata AIA Life Insurance as its prefix is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns.
Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Please know the associated risks and the applicable charges, from your Insurance Agent or Intermediary or Policy Document issued by the Insurance Company.
Various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. The underlying Fund's NAV will be affected by interest rates and the performance of the underlying stocks.
The performance of the managed portfolios and funds is not guaranteed, and the value may increase or decrease in accordance with the future experience of the managed portfolios and funds.
Premium paid in the Unit Linked Life Insurance Policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the Insured is responsible for his/her decisions.
Please know the associated risks and the applicable charges, from your insurance agent or the Intermediary or policy document issued by the Insurance Company.
This product is underwritten by Tata AIA Life Insurance Company Ltd.
The plan is not a guaranteed issuance plan, and it will be subject to company’s underwriting and acceptance.
Insurance cover is available under this product.
For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. The precise terms and condition of this plan are specified in the Policy Contract.
Buying a Life Insurance Policy is a long-term commitment. An early termination of the Policy usually involves high costs, and the Surrender Value payable may be less than the all the Premiums Paid.
In case of non-standard lives and on submission of non-standard age proof, extra premiums will be charged as per our underwriting guidelines.
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