Get Expert Guidance
What Our Plans Cover
-
Investment across chosen fund opti...
-
Death benefit
-
Maturity benefit
-
Unlimited or generous free switche...
-
Partial withdrawal after the five-...
-
Loyalty additions on some contract...
Who Can Consider This Plan?
- Entry age typically 18 to 60, varying sharply by product
- Income sufficient to sustain the premium for the full term
- Full disclosure of health, lifestyle and family medical history
- Medical examination above a threshold age or sum assured
- Indian resident or NRI, subject to the insurer's country rules
What May Not Be Covered?
- Any guarantee of return whatsoever
- Access to funds during the lock-in period
- Charges, which are deducted regardless of performance
- Suicide within the first twelve months
- Death from material facts concealed at proposal
Always check the policy wording before you commit.
Why Choose Wealth & Covers?
- Expert advice to choose the right plan
- Plans from leading insurance companies
- Hassle-free process and documentation
- End-to-end support, including claim assistance
- Dedicated relationship manager
Our Insurance Partners
- Star Health Insurance
- Care Health Insurance
- Niva Bupa Health Insurance
- HDFC ERGO
- ICICI Lombard
- Bajaj Allianz
We represent multiple providers to help you find the most suitable option at the best price.
- Expert Guidance Personalised advice from experienced insurance professionals.
- End-to-End Support From choosing the right plan to claim assistance, we are with you always.
- Claims Assistance Hassle-free claim support to ensure you get what you deserve.
- Transparent Process Clear information, easy documentation and a hassle-free experience.
Overview
High return plans are unit-linked life contracts that invest predominantly in equity, aiming for growth well above what a guaranteed plan can offer. The sum assured provides the life cover; the fund value provides whatever the market delivers.
The projections on these plans are illustrations at assumed rates, not forecasts. The regulator requires two scenarios to be shown for exactly that reason. Any conversation that dwells on the higher one without mentioning the lower is not a conversation about the product.
Charges matter more here than in almost any other product, because they compound against you across a long term. Mortality, fund management, administration and allocation charges all sit between your premium and your return, and the benefit illustration is where you find them.
Who should consider it
Investors with a horizon of ten years or more who genuinely want the insurance wrapper — usually for the tax treatment or for estate reasons — and who understand what the wrapper costs.
An investor whose only goal is growth will almost always do better in direct mutual funds, with lower costs, full liquidity after any exit load, and a far wider choice. We will say so plainly rather than route the conversation towards a commission.
Benefits
- Equity participation inside a life insurance contract
- Fund switching between equity, debt and balanced options without immediate tax
- Life cover throughout the investment period
- Partial withdrawals permitted after the lock-in
- Section 80C on premium; proceeds under Section 10(10D) subject to conditions
- Top-up premiums allowed on most contracts
What is covered, and what is not
Read the right-hand column first. It is the one that decides whether a claim is paid.
Typically covered
- Investment across chosen fund options
- Death benefit — the higher of the sum assured or fund value, per contract
- Maturity benefit — the fund value at the end of the term
- Unlimited or generous free switches between funds
- Partial withdrawal after the five-year lock-in
- Loyalty additions on some contracts in later years
Typically not covered
- Any guarantee of return whatsoever
- Access to funds during the lock-in period
- Charges, which are deducted regardless of performance
- Suicide within the first twelve months
- Death from material facts concealed at proposal
- Protection against market falls, which the contract does not provide
Inclusions and exclusions vary between providers and between plans from the same provider. The wording in your own policy document is what governs — we will walk you through it before you buy.
How it works with us
- 1 Start with the goal, not the plan A school fee in 2038, an income from 2045, an estate to pass on. The goal decides the structure; the brand is the last decision, not the first.
- 2 We separate the protection from the saving You see what the cover costs and what the savings portion is projected to return, as two numbers rather than one blended promise.
- 3 Compared against the honest alternative Term insurance plus a mutual fund, on the same premium and the same horizon. Sometimes this plan wins; often it does not, and we say so.
- 4 Proposal, medicals and financial underwriting Medicals arranged at home. For larger premiums, insurers assess income as well as health.
- 5 Issued, with the illustration on file We keep the benefit illustration you were shown, so what was promised is on record for the whole term.
Important considerations
The things a brochure tends to leave out. Read these before you decide.
- Read the benefit illustration at the lower assumed rate. That is the scenario worth planning around; the higher one is a possibility, not a projection.
- Total charges over a fifteen-year term can consume a meaningful share of returns. Add them up in rupees rather than accepting them as percentages.
- Compare against a direct mutual fund plus a term plan on the same premium. That comparison decides this question for most investors, and it usually decides it against the ULIP.
- The five-year lock-in is absolute. This is not emergency money under any circumstances.
- If the tax wrapper is the reason you are here, confirm the current Section 10(10D) conditions apply to your premium level before assuming the benefit.
Documents required
- Completed proposal form with full health disclosure
- Identity proof — Aadhaar, passport or PAN
- Address proof
- PAN card, mandatory for life insurance
- Income proof — Form 16, salary slips or filed returns
- Bank statements, for larger premiums
- Medical reports, where the insurer requires them
- Recent passport-size photograph
Frequently Asked Questions
Are the projected returns guaranteed?
No. They are illustrations at assumed rates that the regulator requires insurers to show — one optimistic, one conservative. Neither is a forecast. Plan against the lower figure and treat anything above it as an upside.
How do charges affect my returns?
Materially, because they compound across the whole term. Mortality, fund management, administration and allocation charges all reduce the amount actually invested. Ask for them in rupees over the full term rather than as annual percentages — the total is usually larger than people expect.
Is this better than a mutual fund?
For pure growth, generally not. Direct mutual funds cost less, offer a wider universe and are fully liquid after any exit load. This product wins only where you genuinely want the insurance wrapper and understand what it costs you.
Can I switch between funds?
Yes, and usually free and unlimited within the contract, without an immediate tax event. It is one of the genuine advantages of the structure for an investor who actively rebalances.
What if markets fall just before maturity?
The fund value falls with them — there is no protection against that. Most contracts allow you to switch to debt funds as maturity approaches, and doing so in the final years is a sensible discipline rather than an optional refinement.
Want a shortlist instead of a catalogue?
Tell us the situation and an advisor comes back with two or three options that actually fit — and names what each one gives up.