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ULIP Plan as a Gift

ULIP is an excellent investment option providing dual benefits of investment and an insurance cover. Gift your loved ones an insurance that build wealth and provides insurance cover.

  • Jul 22, 2022

Are you still confused about the best gift for your loved ones? Is it challenging to choose an anniversary gift that your wife finds flawless and valuable? Or are you planning to give yourself a gift on this birthday? One of the biggest obstacles while selecting the right present is finding something beneficial and meeting the expectations of one at the receiving end. People give various gifts such as clothes, shoes, technical gadgets, pets, cars, etc. But none of these presents will ever increase their value with time. How about a gift that changes their life? For instance, an insurance plan!

An insurance plan provides financial security to the policyholder and their family. But how about adding the advantage of investing in this insurance policy? This is exactly what Unit-Linked Insurance Plan is about. Can the ULIP plan be gifted? Absolutely yes! Keep reading to know more about the ULIP.

What is ULIP?

Unit-Linked Insurance Plan or ULIP is an insurance plan with the added benefits of investment. It is a financial tool that uses a part of your premium to provide insurance cover, while the rest of it is invested in market funds. ULIPs certainly involve a risk factor as the returns depend on market volatility. But with wise and research-backed investing, one can grow wealth with this market-linked insurance plan. Moreover, ULIPs give you complete freedom to choose the funds according to your risk-taking appetite and preferences.

ULIP as a Gift

ULIP is an excellent investment option providing dual benefits of investment and an insurance cover, aided with the following benefits:

1. Flexibility

  • ULIP lets you pay the premiums according to your convenience.
  • You can add a top-up amount to your existing premium to maximize the returns.
  • The sum assured is determined at the beginning of the plan. However, you can increase it according to your requirements at different stages of life, such as marriage, retirement, etc.

2. Transparency

ULIPs provide transparency to the customers through ULIP NAV (Net Asset Value) updates. NAV keeps you updated about the performance of your funds in the market. So you can keep a check regularly and modify your investments accordingly.

3. Fund switching feature

You can choose to invest in equity, debt, or balanced funds which include both equity and debt-based investing. At any point in time, you can switch the funds and modify your investment to reduce the risk (due to market volatility) and gain higher returns overall.

4. Partial withdrawal

Unlike other policies, ULIP offers partial withdrawal after completion of a lock-in period of five years. You can withdraw a certain amount from your account in dire need of money. Hence, ULIPs offer liquidity and protect you from a financial crisis. However, it is advised not to withdraw the amount to gain higher returns unless in the case of an emergency.

5. Tax benefits

Among the prominent features of ULIP, another unmatched advantage is the benefit of taxation.

  •  Under Section 80C,tax benefits are given to the policyholder.
  • Switching funds is tax-free. Hence you can conveniently modify your investment portfolio.
  • Under Section 10 (10D) of the Income Tax Act, the maturity benefit is also tax-free.

Rider benefits

You can make your policy by adding insurance riders to the existing ULIP. Unit Linked accident and disability benefit rider is an example of a rider. Due to this rider, a higher amount is offered to the family in case of the policyholder's accidental death. It also provides life insurance cover in case of disability caused by accident.


A Unit-Linked Insurance Plan can be considered an excellent and reliable long-term investment. ULIP can significantly increase the value of your savings and provide financial security to you and your loved ones. The flexibility to pay premiums, choose funds, add rider benefits, and switch funds according to your needs allow you to attain lucrative returns.

In this policy, the investment risk in the investment portfolio is borne by the policyholder.

Kotak e-Invest

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  • Return of Mortality Charges*$
  • Enhanced Protection
  • Multiple Plan Options
  • Zero Premium Allocation Charges
  • Tax Savings^

Ref. No. KLI/22-23/E-BB/521


- A Consumer Education Initiative series by Kotak Life

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