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UlipsMany of the ULIP information seekers have been asking for a comparative article on the existing ULIPs with Guaranteed NAV in the market. In this article you will find the most comprehensive comparison of Unit Linked Insurance Plans offered by various insurers like LIC, SBI Life, Birla SunLife, Bajaj Allianz, Reliance and ICICI Prudential. One of my blog reader Sumanth has been kind enough to do all the preliminary investigation to gather the information provided in this article, many thanks to him.

InsurerLICSBI LifeBirla SunlifeAllianz BajajReliance LifeICICI Pru
ULIPWealth PlusSmart ULIPPlatinum PremierMax GainNAV GuaranteePinnacle
Entry Age10-65 Yrs8-60 Yrs8-70 Yrs8-60 Yrs30 days to 658-65 Yrs
Term8 Yrs10 Yrs10 Yrs10 Yrs10 Yrs10 Yrs
PPTSingle or 33 or 5107Single or 103
Maturity Age73 Yrs70 Yrs80 Yrs70 Yrs75 Yrs75 Yrs
ModeSingle, Yly, Hly,
Qly, ECS Monthly
Yly, Hly, QLY,
ECS Monthly
Yly, Hly, ECS Qly,
ECS Monthly
Yly, Hly, QLY,
ECS Monthly
Single,
Annual
Annual
Risk CoverSP 1.25-5 Times;
Annual 5-10 Times
5 Times of
Annual
Premium
5 Times of
Annual
Premium
5 Times of
Annual
Premium
SP 1.1-6 Times;
Annual 5 – 30
Times
5 Times of
Annual
Premium
Death
Cover
SA + Fund
Value
SA or Bid
Value
SA or Bid
Value
SA or Fund ValueSA + Fund ValueSA or Fund
Value
Extended
Cover
YesNoNoNoNoNo
DABYesNoRidersNo
PremiumSP 40000;
Yly 20000
Hly 10000
Qly 5000
ECS 2000
Yly 50000 Hly
25000 Qly
15000 ECS
Yly 25000
Hly 15000
ECS, Qly 7500
Mly 5000
Yly 25000
Hly 15000
Qly 8000
ECS 3000
SP 30000;
Annualised
Premium
20000
50000 PA
Fund TypeOne – Wealth
Plus Fund
TwoTen – only 1 is
guaranteed
OneOneOne
NAV Guarantee7 Yr, Term End7 Yr 2 Dates7Y3M, Term EndFullFull7 Yrs
Allocation
Charges
[1st Year]
11.25-12.00%15%10%15.00-
20.00%
20%14%
Allocation
Charges
[Later]
2.50% for PPT5% for PPT5% for PPT3.00-6.00%3% (2,3)
2% (4,5)
1%
4% (2)
2% (3)
Allocation
Charges
[SP]
4.00-4.50%NANANA2%NA
Partial
Withdraw
3 Yrs5 Yrs3 Yrs3 Yrs3 Yrs3 Yrs
Surrender3 Yrs3 Yrs3 Yrs3 Yrs3 Yrs3 Yrs
Surrender
Charges
NIL3rd Yr 9%
4th Yr 2%
5th Yr Nil
Within
3 Yr 40% 4 Yr 20%
5 Yr 10%
Within
3 Yr 20% 4
Yr 10%
Applicable,
No mention in
brochure
3rd Yr 4%
4th Yr 2%
5th Yr NIL
Policy
Admn
Charge
1st Yr 60 PM;
2nd Yr 25 PM
Escalation @
3%
Flat 60 PM +
INR 5 per
thousand SA
(3 Yr)
0.24% PM of first
25000 and 0.40% of
annual premium (3
Yr)
1.26% of
First Year
SA
40 PM (thru)0.40-0.60% of
Annual
Premium PM for
3 Yrs
FMC1%1%1.5%1.25%1.35%1.35%
Guarantee
Charges
0.35%0.5%Included in FMC0.25%0.15%0.10%

Peak NAV Guarantee ULIP : Illustration of charges for the first 3 years:
For illustrative calculation, the following are considered:
Mode – Yearly premium; Premium – 1 Lac; Sum Assured 5 Lac;

ULIPWealth
Plus
Smart
ULIP
Platinum
Premier
Max
Gain
NAV
Guarantee
Pinnacle
1st Yr Alloc
Charge
120001500010000200002000014000
Policy Admn
Charges
720720+250060+400
PM
63004804800 OR
7200 PM
Total 1st Year127201822015520263002048018800
2nd Yr Alloc
Charge
250050005000600030004000
Total 2nd Year28008320105201230034808800
3rd Yr Alloc
Charge
250050005000030002000
Total 3rd Year2800832010520630034806800
TOTAL IN 3
YEARS
183203486036560449002744034400
Total 3 Yr
Premium
3 Lac3 Lac3 Lac3 Lac3 Lac3 Lac
Allocated
(nearest 000)
2.82 lac2.65 lac2.63 lac2.55 lac2.73 lac2.66 lac
Surrender
Charges
NilYesYesNilYesYes

Disclaimer : This comparison is arrived at by going through various ULIP plans as provided by each of the insurer on their respective product at the time of publishing. Readers are suggested to check their respective sites/brochures for more detailed information, publisher doesn’t bear any responsibility for misrepresentation if any on the data provided.

{ 98 comments… add one }
  • Atul September 22, 2015, 11:58 pm

    I can never trust ULIPs. If I have to invest, why would I buy insurance.

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