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A Single premium ULIP Plan

Monday, November 15, 2010
By Manoj Aswani


Policy Snapshot
  • Single premium ULIP Plan
  • Guaranteed Loyalty Addition of up to 2.5% of Fund value every 5 years from the tenth policy year
  • Choice of Sum Assured of 125% or 500% of the Single Premium. 
Death Benefit
In case of death of the policy holder, the nominee gets the higher of Sum Assured or Fund Value.
Maturity Benefit
If the policy holder survives the policy term, then he gets the Fund Value.
Loyalty Addition
A Loyalty Addition will be allocated at the end of every fifth policy year, starting from the tenth policy year. The Loyalty Addition will depend on the single premium amount as shown below:
Single Premium Amount
Loyalty Addition %
Rs.40,000 – Rs.49,999
Rs.50,000 – Rs.99,999
Rs.100,000 – Rs.4,99,999
Rs.5,00,000 and above
Increase or Decrease in Sum Assured
This policy offers the flexibility to increase or decrease the sum assured of the policy holder. 

Eligibility Criteria 
Minimum Premium
Maximum Premium
No limit
Minimum Age at Entry
0 years
Maximum Age at Entry
60 years
Maximum Age at Maturity
70 years
Minimum Policy Term
10 years
Maximum Policy Term
30 years
Premium Payment Term
1 year / Single premium
Mode of Premium
Single premium
Riders – There is no facility of riders provided under this plan.
Investment Fund Options– Under this plan the policy holder gets the following 2 investment options:
  1. Trigger Portfolio Strategy
  2. Fixed Portfolio Strategy: The funds under this option are:
  • Opportunities Fund
  • Multi Cap Growth Fund
  • Multi Cap Balanced Fund
  • Blue Chip Fund
  • Income Fund
  • Money Market Fund
  • Return Guarantee Fund
  • Dynamic P/E Fund
Premium Allocation Charge
Single premium amount
Charge as a % of premium
Rs.40,000 – Rs.4,99,999
Rs.5,00,000 and above
Policy Administration charge
There would be a fixed Policy administration charge of Rs. 60 per month and it will be charges only during the first three policy years.
Fund Management Charge
Opportunities Fund, Multi Cap Growth Fund, Blue-chip Fund, Dynamic P/E Fund, Multi Cap, Balanced Fund, Income Fund
1.35% p.a.
Return Guarantee Fund
1.25% p.a.
Money Market Fund
0.75% p.a.
Sample Illustration
Premium amount = Rs.1,00,000
Sum Assured = Rs.5,00,000
Age at Entry = 30 years (Healthy male)
Choice of Portfolio strategy = Fixed
The minimum top-up premium is Rs. 2,000 and it can be done anytime in a year. On payment of Top-up, you will have an option to increase the Sum Assured either by 125% or 500% of the Top-up premium amount.
You can change your chosen portfolio strategy once during every policy year. Either Trigger Portfolio Strategy or Fixed Portfolio Strategy option needs to be selected right at inception. If you have opted for Fixed Portfolio Strategy, you have the option to switch between 8 fund options.
Partial Withdrawal
You are allowed to make partial withdrawals in this policy after 5 complete policy years. The minimum amount of partial withdrawal should be Rs. 2,000 and at least Rs 10,000 should remain in the Fund Value.
Surrender conditions – The policyholder is allowed to surrender the policy only after completion of 5 years.



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