ULIP Exemptions – Is Income from ULIP Exempt from Tax
Yes, Income from ULIP Plans are exempt from tax subject to certain conditions as specified in 10(10D) of Income Tax Act.
Currently, the tax laws in India follow “EEE” exemption policy for majority of tax saving instruments including ULIP i.e. it is exempt at the time of investment due to deduction allowed in Income Tax, It is exempt at the time income is accrued and is further exempt at the time of receipt of money at maturity.
However, Pension Plans under ULIP are not exempt at the time of maturity.
Currently, the tax laws in…
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ULIP Rating – Independent Review and Ratings of ULIP Plans
ULIP Rating a Difficult & Complex Task
When we started out to create a website offering detailed indepth rating, review and analysis of various insurance products including ulip, we were not aware what would lie in our path. Infact, we were quite optimistic to complete the same without much difficulty as we are seasoned financial professionals having expertise and experience in this field for long time.
However, comparing various insurance products especially Ulip comparison and rating was a very Tedious, Complex and Time Consuming job and involved much more hard work and application of mind than we had bargained for. The diversity of products and different features of each product required hours upon hours of analysis from our team.
We however sucessfully undertook rating of various ULIP products as well as other insurance products and the results of our hardwork is provided below for you to enjoy. Even users can rate various ULIP or other insurance products on our website.
ULIP Rating – Rating of Various ULIP Plans is given below
ULIP Rating
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ULIP Whithdrawal Procedure & Steps
After Investing in a ULIP Plan we may sometime require funds or need to withdraw money from our ulip plan due to emergency or other reasons like poor fund performance etc. The steps for withdrawing funds from Ulip policy differ from company to company. Given below is the steps to be followed for ULIP Withdrawal
- Check the minimum lockin period – Every Ulip Plan comes with compulsorylockin period ranging from 3 Years to 5 Years depending on when you have invested in the policy. Read through your policy documents to see your lockin period.
- Check the Surrender Charges – Different Plans have different surrender charges depending on the number of years the premium has been paid. Have a look at surrender charges before withdrawing your policy so you do not face shock at the last moment.
- Check Option for Partial Withdrawal – Check whether your policy has a provision for partial withdrawal, so you can withdraw money without closing your plan fully.
- Apply to Insurance Company – Give an application to insurance company for withdrawal of ulip policy both in case of Partial Withdrawal or Full Surrender. After your application is submitted you will get a cheque in your name at your address given in the policy document, so please check the same before applying.
We hope this will enable you in withdrawal of funds from your ulip plan.
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Ulip Comparison 2011
Can you provide Comparison of ULIP Plans for 2011?
This was the questions asked from me.
ULIP Comparison 2011
The world of ulip insurance plans is very cruel. The plans are very complex, the agents are deceptive and sales men more than friendly advisers as touted by insurance companies and there are not many authoritative and impartial sites comparing various ulip products.
Also, comparison of various ulip products in it self is very tedious and complex job as various companies have come up with various features for various ulip plans. This makes comparing ulip plans of different companies as comparing apples with guava. Infact, there is so many type of ulip plans in one company itself with varying features that it becomes really difficult to compare ulip plans.
In this website however, we have tried to compare various ulip products of various companies in a impartial and objective manner considering 3 main comparison points of ulip plans which are features, charges and past fund performance. And the result of thousands of man hours of work is given below:
ULIP Comparison for 2011
| Rank | Name | Charges | Fund Performance | Features | Overall Rating | Info |
|---|---|---|---|---|---|---|
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Aviva – Freedom Life Advantage Plan Review |
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Review |
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ICICI Prudential LifeStage Wealth II Review |
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Review |
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ICICI Prudential LifeTime Premier Review |
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Review |
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ICICI Prudential Pinnacle II Review |
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Review |
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HDFC Standard HDFC SL ProGrowth Flexi Review |
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Review |
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