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January 19, 2006 13:44 IST
Last Updated: January 19, 2006 13:48 IST

Unit linked insurance plans are probably the hottest selling product for most life insurance companies today. However, when it comes to evaluating ULIPs from across life insurance companies, individuals find the task arduous and challenging.

The table below provides information on ULIPs from four leading life insurance companies, which will help individuals who want to assess their ULIP products effectively.

ULIPs: A comparison
 LIC [Get Quote]
(Bima Plus)*
ICICI-Prudential
(Lifetime II)
HDFC [Get Quote] Standard Life
(Unit linked endowment)
SBI [Get Quote] Life
(Horizon)
PRODUCT TYPEMarket linked planMarket linked planMarket linked planMarket linked plan
ULIP FUND OPTIONSRisk fund, Balanced fund, Secured fundMaximiser II (Growth), Balancer II (Balanced), Protector II (Income), PreserverGrowth fund, Balanced fund, Defensive fund, Secure fund, Liquid fundDynamic fund, Growth fund
ALLOCATION TO EQUITIESMin 50% in risk fund; min 30% in balanced fund; min 10% in secured fundUpto 100% in maximiser-II; upto 40% in balancer-II; nil in Protector II & Preserver100% in growth fund; 30-60% in balanced fund; 15-30% in defensive managed fund; nil in secure managed & liquid fund0-100% in Dynamic fund; 0-75% in growth fund (allocation depends on age)
MINIMUM PREMIUM (RS)10% of sum assured (Min. sum assured: Rs 50,000)18,00010,00012,000
MIN/MAX AGE AT ENTRY (YRS)12Yrs-55YrsMin: 0 or 18. Max: 35 or 60 (depends on level of sum assured)18-60 (subject to plan type)14-60
HOW IS SUM ASSURED CALCULATED**10 times annual premiumLevel I sum assured: Annual contribution X a multiple. Level II sum assured: sum assured can be increased subject to certain conditions5-20 times the regular premium amount10 times the annual premium. Maximum limit: Rs 10 Lacs
RIDERS AVAILABLE**Yes YesYesNo
INITIAL YEARS' EXPENSESN.A.#12%-19% in first yr (depends upon the annual premium amount). 4% from 2nd-5th yr. 2% from 6th-10th yr.10%-27% in initial 2-Yrs (depends upon the annual premium amount)15% in 1st yr. 10% in 2nd and 3rd yr.
FUND MANAGEMENT CHARGES1% p.a.Maximiser II- 1.5%; balancer-1.0%; protector II & preserver-0.75%0.80%Equity fund-1.5%; bond fund-1.0%; money mkt fund-0.25%
EXPENSES AFTER INITIAL YEARS (%)N.A.#115
FIXED MONTHLY EXPENSES (RS)N.A.#601570
PARTIAL WITHDRAWALS ALLOWED**YesYesYesYes
CHARGES ON TOP-UPS (%)1.512.5% for initial two yrs. 1% thereafter.1
SWITCH CHARGES2 switches allowed during policy's life. Charges: 2% of the unit value at time of switch4 free switches in a year. Rs 100 per switch thereafter5 free switches in a year. Company may charge upto 2% of switched amt for additional switches-
*This policy has now been closed for sale.
The information in the table is as sourced from company websites and interactions with the company. To understand them better, we advise you read information available on company websites and/or call the your insurance advisor/agent for further details.
Fixed monthly expenses for some companies are subject to inflation-based indexation and may change in future.
Companies reserve the right to change their policies anytime in the future.
** Conditions apply.
# Not available.

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