Written by : Knowledge Center
2022-11-25
922 Views
7 minutes read
Share
Locate branch
Resume journey
Pay Premium
Contact us
What is the difference between Unit Linked Pension Plans and Traditional Plans?
Both plans give you the opportunity to get returns on your money, along with life cover. In ULIPs, your money gets directed into different types of fund, depending on your risk appetite. In such plans, the risk of investment is borne by you. In traditional plans, your money is invested in low risk options and offers guaranteed maturity proceeds. Also, in such plans, the risk is borne by the insurance company. ULIPs: Higher risk & market returns Traditional Plans: Lower risk & moderate returns.
ULIP Insurance - Top Selling Plans
We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling ULIP insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.
Don't Just Survive, Thrive
Guaranteed Assured INcome
- 3 Plan Options
- Life cover + Guaranteed benefits
- Total Premiums at maturity
- Early income from 2nd policy year
Fixed Returns, Zero Risks & Worries
iSelect Guaranteed Future Plus
- 4 Plan options
- Life cover + Guaranteed benefits
- Accidental death benefit
- Premium protection cover
Recent Blogs
Why Ulip Is The Best Tax Saving Investment
02 Aug '24
874 Views
With the advent of technology, tax saving has been simplified in many ways and you can buy an insurance online at your ease. Before, buying an insurance make sure that you plan
Read More
Ulip
Why Ulip Is A Better Investment Option For Long Term Wealth Creation
02 Aug '24
870 Views
If you are looking for a reliable option that helps you to generate wealth in the long run, then ULIP is the perfect choice for you.
Read More
Ulip
Why One Should Not Exit Ulips After The End Of Lock In Period
02 Aug '24
880 Views
A host of financial products are available in the market catering to people with different financial goals and return expectations. People looking to financially secure
Read More
Ulip
FAQs related to ULIP Discontinuance
If you discontinue your ULIP, the insurance company will reimburse the proceeds of the discontinued policy at the end of the lock-in period.
If you decide to close your ULIP before maturity, the insurance company deducts a discontinuance fee from your total amount and moves the rest to a Discontinuance fund.
ULIPs have a mandatory lock-in period of 5 years.
Discontinuance charges in ULIPs are fees that are deducted as a percentage of the total ULIP in case you decide to stop your premium payments before the lock-in period.
If you don’t pay the ULIP premium after one year, the value you invest into the ULIP will be transferred to a discontinued policy fund.
If the ULIP policy lapses, the ULIP funds will be transferred to a discontinued policy fund. The investor will be provided a revival period of 3 years to revive the ULIP.