Shielding Your Family Against Life's Uncertainties with Your ULIP

Date 11 Aug 2023
Time 5 mins read
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Life is a journey filled with opportunities and uncertainties. The unknown isn't something we can always control, but what we can manage is how prepared we are to face it. Your Unit Linked Insurance Plan (ULIP) plays a critical role in this process, offering protection to you and your loved ones against life's unforeseen circumstances.

How does it do so? Keep reading to find out!

Securing Your Family's Future

The dual benefit of life insurance and investment in your ULIP acts as a financial safety net for your family. In your absence, the life insurance component ensures that your family receives a lump sum amount, enabling them to maintain their current lifestyle without compromising on their dreams or ambitions.

Investment for Growth

Simultaneously, the investment component of your ULIP works tirelessly, growing your wealth over the long term. Your regular premium payments are systematically invested in funds of your choice, which over time, yield potentially high returns. This allows you to build a substantial corpus for your loved ones, preparing them financially for any future uncertainty.

Flexibility for Changing Needs

Life's uncertainties demand a flexible approach, and your ULIP is designed just for that. You have the flexibility to switch between equity, debt, and balanced funds based on your changing risk appetite and market dynamics. This enables you to optimize your returns and protect your investment against market volatility, thereby securing your family's financial future.

Leaving a Legacy

Your ULIP is not just an investment or an insurance plan; it's a legacy that you create for your loved ones. It's a testament to your foresight and your strong desire to protect your family against any hardships. It's your way of saying, "No matter what happens, I've got you covered."

Your ULIP: Your Family's Financial Guardian

Staying invested in your ULIP is a proactive step towards securing your family's future. Life may be filled with uncertainties, but with your ULIP, you can be certain of one thing - your family's financial well-being is taken care of.

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FAQs

How does the life insurance feature of my ULIP work?
The life insurance feature of your ULIP provides a death benefit to your beneficiaries in the unfortunate event of your demise during the policy term. The amount of coverage depends on the sum assured you chose when you purchased the policy. It offers your family financial security and ensures their financial needs are met even in your absence.
What happens to my investment component if I pass away during the policy term?
If the policyholder passes away during the policy term, most ULIPs provide the sum assured or the fund value to the beneficiaries, depending on which is a higher amount. This means that your investments are not lost but are passed on to your loved ones, offering them both life cover and the benefits of your investments.
Can I adjust the life insurance cover in my ULIP policy?
Yes, your ULIP offers a certain degree of flexibility to adjust the life insurance cover. You can usually increase the cover on significant life events like marriage, the birth of a child etc. However, a decrease in the cover might be subject to certain conditions. It's best to check the terms and conditions of your specific policy or consult with your insurance advisor for details.
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    Trade Logo "Aditya Birla Capital" displayed above is owned by ADITYA BIRLA MANAGEMENT CORPORATION PRIVATE LIMITED (Trademark Owner) and used by ADITYA BIRLA SUN LIFE INSURANCE COMPANY LIMITED (ABSLI) under the license.
    Aditya Birla Sun Life Insurance is only the name of the Company and do not in any way indicate the quality, future prospects or returns. The name of the funds offered does not in any way indicate their quality, future prospects or returns. In ULIP plans, the investment risk in the investment funds chosen by you is borne by you. Investment funds are subject to investment risks and unit prices may go up or down reflecting the market value of the underlying assets. Past performance is no guarantee of future results. The charges are guaranteed throughout the term of the policy unless specifically mentioned and subject to IRDAI approval. The value of the investment fund reflects the value of the underlying investments. These investments are subject to market risks and change in fundamentals such as tax rates, etc affecting the investment portfolio. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions.  GST and any other applicable taxes levied as per extant tax laws shall be deducted from the premium or from the allotted units as applicable. Tax benefits are subject to change in the tax laws. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document. The Past performance of the Unit linked fund(s) of the company is not necessarily indicative of the future performance of any of these Unit linked fund(s). Linked Life insurance products are different from the traditional life insurance products and are subject to the risk factors.
    IN THIS POLICY, INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICY HOLDER.
    Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policy holder will not be able to withdraw/surrender the monies invested in Linked Insurance Products completely or partially till the end of the fiſth year from inception. For more details, please refer to your policy contract or visit the website https://lifeinsurance.adityabirlacapital.com
    Aditya Birla Sun Life Insurance Company Limited
    Write to us at
    Customer Service, Aditya Birla Sun Life Insurance Company Limited, G Corp Tech Park, 6th Floor, Kasar Wadavali, Ghodbunder Road, Thane - 400601.
    Registered office
    Aditya Birla Sun Life Insurance Company Limited, One World Centre, Tower 1, 16th Floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013 | +91 22 6723 9100 | CIN: U99999MH2000PLC128110 | IRDAI Regn. No. 109 |
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    IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
    ADV/8/23-24/1448