Secure your retirement with the new age retirement variant 4G ULIPs

Published: May 11, 2019 9:36:17 AM

The new retirement variant of 4G ULIP introduced in the market primarily focuses on retirement solutions for the customers.

Ulip, unit linked insurance plan, 4g ulip, 4g ulips, retirement variant 4G ULIPs, retirement plans, Bajaj Allianz LongLife Goal, HDFC Life Click2Wealth, Canara HSBC Oriental Invest 4G-Whole LifeWith the launch of this new version, the existing 4G ULIP has taken another leap to become India’s most efficient investment product.

Each one of us have dreams for ourselves and our loved ones. And in order to accomplish these dreams, we work hard and earn to provide the loved ones a better future. The most important thing to realize your dreams is planning ahead well in advance. However, one significant concern that the people – mostly salaried segment – see is lack of post-retirement guaranteed pension which promises guaranteed and maximum returns. Apart from the armed forces and Central government employees — who will get defined-benefit pension — a major proportion of the population probably saves but fails to secure their post-retirement pension. That’s why you need a comprehensive solution that helps you achieve these dreams and can also be customized to match your needs while giving you peace of mind.

Keeping in mind the needs of the consumers who are not only looking to enjoy a comfortable retired life, but also want to make sure that their family is safe if something happens to them tomorrow, some prominent private insurers have recently launched insurance plans that offer financial protection along with a plethora of investment options. The new retirement variant of 4G ULIP introduced in the market primarily focuses on retirement solutions for the customers. With the launch of this new version, the existing 4G ULIP has taken another leap to become India’s most efficient investment product. The offered plans are a convenient, transparent and cost effective online buying experience, which are sure to transform the way life insurance cum savings plans are bought in India today.

Bajaj Allianz – LongLife Goal

People planning for a peaceful retirement can consider investing in the equity fund option of Bajaj Allianz Life LongLife Goal – a new-age whole life unit-linked insurance plan (ULIP). The plan comes with a plethora of competitive features that help it score well over other whole life ULIPs and regular online ULIPs. Some prominent features of the plan include fund performance, lower charges, loyalty additions and most importantly, the option to choose ‘retired life income’ that assures regular income post-retirement. Bajaj Allianz Life’s LongLife Goal plan offers a life cover up to 99/100 years (minus entry age of the insured) with the premium paying term ranging from 7 to 25 years. Yet another important highlight of the plan is the return of life cover charges wherein the charges deducted from the premium amount to provide life insurance are returned periodically as ROMC. The life insured is paid ROMC once the investor turns 60 years or completes 15 years of policy, whichever is later.

The plan even offers ‘loyalty additions’ wherein the life insured is paid to stay longer in the policy. Starting from the end of 5th year till the 25th year of the policy, the plan offers fund value as percentage of annualised premium each year with the loyalty additions starting from 2% per year and going up to 7% per year. Talking about the returns, while on maturity, the plan gives the fund value to life insured, on death within the policy term, the fund value, or 105 per cent of total premiums paid, or sum assured, whichever is higher is paid.

HDFC Life – Click2Wealth

With HDFC Life Click2Wealth plan, the consumers have the choice of selecting between 2 investment strategies – Systematic Transfer Strategy and Self-Managed Strategy. While the Systematic Transfer Strategy helps consumers minimize the risk by converting the plan into a SIP wherein the money gets automatically transferred from debt to equity funds each month, the Self-Managed Strategy allows consumer to decide in which fund they wish to invest their money. For all Regular and Limited Pay Policies, 1% of the annualized premium will be added to the Fund Value at the time of allocation of premium for first 5 policy years. One of the most important features of HDFC Life Click2Wealth is the Return of Mortality Charge feature under which at the end of the policy term, the charges deducted for providing life cover throughout the policy term are added back to the Fund Value.

Under the plan, the life insured has the option of making partial withdrawals under different scenarios that include policy term exceeds five years, the life insured is above 18 years of age and the total fund value after withdrawal does not fall below 150% of annualized premium for limited/regular premium paying policies. The same for single premium policies is 25% of the Single Premium. The investors even get Tax Free Monthly income upon Retirement when investing under Whole Life plan.

Canara HSBC Oriental – Invest 4G-Whole Life

Canara HSBC Oriental – Invest 4G-Whole Life is a prominent protection and savings-oriented Unit Linked Insurance Plan which not only gives you choice to opt for protection suitable to you but also provides you opportunity to save for your dreams and future life goals. The plan aids in adding back to your savings through Loyalty Additions and Wealth Boosters apart from returning the Mortality Charges on policy maturity. This is one of the great ways to maximizing your savings. The product even comes with the option of Multiple Portfolio Management Options that enables you to optimize returns from the Policy. The Systematic Transfer Option (STO) of the Canara HSBC Oriental – Invest 4G-Whole Life plan enables you to enter different markets. Apart from this, the Return Protector Option (RPO) helps you in protecting your gains of equity market by automatically moving such gains into low risk fund to avoid future equity market volatility.

Auto Funds Rebalancing Option (AFR) is a great way to maintain allocation of your savings in a specific proportion across funds, irrespective of market movements. Moreover, the liquidity option by way of partial withdrawals helps you meet unplanned contingencies.

(By Santosh Agarwal, Chief Business Officer-Life Insurance,

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