\u003Cspan>Plot No:31 & 32, Beside Union Bank Training Centre,\u003C/span>\u003Cbr />\u003Cspan>Financial District, Gachibowli,\u003C/span> \u003Cbr />\u003Cspan>Hyderabad-500032, India.\u003C/span>\u003C/p>"},{"title":"Helpline","heading":"Helpline","description":"\u003Cul>\u003Cli>\u003Ca href=\"tel:1800-103-5319\">Customer - 1800-103-6116\u003C/a>\u003C/li>\u003Cli>\u003Ca href=\"tel:1800-103-2671\">Agent - 1800-103-2671\u003C/a>\u003C/li>\u003C/ul>"}],"social_media_group":[{"title":"Follow us on","heading":"Follow us on","social_media":[{"title":"Facebook - Follow us on","icon":[{"media_img":null,"media_svg":"https://cdn.shriramlife.com/slic-kalam/files/2023-04/facebook.svg","media_svg_alt":"facebook","media_document":null}],"menu_link":{"url":"https://www.facebook.com/Shriramlife","text":"https://www.facebook.com/Shriramlife"}},{"title":"LinkedIn - Follow us on","icon":[{"media_img":null,"media_svg":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/linkedin.svg?VersionId=rfH8qB2UDCo98jwCeO8pBLdtlykrSKpc","media_svg_alt":"linkedin","media_document":null}],"menu_link":{"url":"https://www.linkedin.com/company/shriram-life-insurance/posts/?feedView=all","text":"https://www.linkedin.com/company/shriram-life-insurance/posts/?feedView=all"}},{"title":"Twitter - Follow us on","icon":[{"media_img":null,"media_svg":"https://cdn.shriramlife.com/slic-kalam/files/2023-09/Twitter_X__1_%20%282%29.svg","media_svg_alt":"twitter","media_document":null}],"menu_link":{"url":"https://twitter.com/shriramlifeins","text":"https://twitter.com/shriramlifeins"}},{"title":"Instagram - Follow us on","icon":[{"media_img":null,"media_svg":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/instagram.svg?VersionId=NnzicD0M2qJhWdRpX36W_4T98ZBxqcBp","media_svg_alt":"instagram","media_document":null}],"menu_link":{"url":"https://www.instagram.com/shriramlifeinsurance/","text":"https://www.instagram.com/shriramlifeinsurance/"}},{"title":"YouTube - Follow us on","icon":[{"media_img":null,"media_svg":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/youtube.svg?VersionId=SX0DDlj6Uwhvw6wHGJBCoiodcbVEi2Gm","media_svg_alt":"youtube","media_document":null}],"menu_link":{"url":"https://youtube.com/@shriramlifeinsurance7335?si=gVGliFQkWDPTxLqA","text":"https://youtube.com/@shriramlifeinsurance7335?si=gVGliFQkWDPTxLqA"}},{"title":"WhatsApp - Follow us on","icon":[{"media_img":null,"media_svg":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/whatsapp_0.svg?VersionId=iGtosK57wLeV5_TAK6gMsnPtaG79B0jB","media_svg_alt":"whatsapp","media_document":null}],"menu_link":{"url":"https://whatsapp.com/channel/0029Vb7xeCWE50UhFlWYkj1q","text":"https://whatsapp.com/channel/0029Vb7xeCWE50UhFlWYkj1q"}}]}],"app_group":[{"title":"Download App","heading":"Download App","Apps":[{"title":"Download App - Android","heading":"Android","icon":[{"media_img":null,"media_svg":"https://cdn.shriramlife.com/slic-kalam/files/2023-04/android.svg","media_svg_alt":"android","media_document":null}],"menu_link":{"url":"https://play.google.com/store/apps/details?id=com.svs.slic","text":"https://play.google.com/store/apps/details?id=com.svs.slic"}}]}],"copy_rights":"\u003Cp>© Shriram Life Insurance Co. Ltd. All the rights reserved. Registered with Insurance Regulatory & Development authority of India (IRDAI) as Life Insurance Company. Regn. No. 128. CIN: U66010TG2005PLC045616\u003C/p>","bima_bharosa":"\u003Cp>\u003Ca href=\"https://irdai.gov.in/grievance-redressal\" target=\"_blank\">IRDAI Grievance Redressal\u003C/a> \u003Cbr />\u003Ca href=\"https://bimabharosa.irdai.gov.in/\" target=\"_blank\">Portal - BIMA Bharosa\u003C/a>\u003C/p>"}],"headers":{"x-powered-by":["Express"],"content-type":["text/html; charset=utf-8"],"content-length":["19174"],"etag":["W/\"4ae6-7H2bYom+UUowjJL/ROZTlcksfSI\""],"vary":["Accept-Encoding"],"date":["Sun, 08 Jun 2025 09:37:12 GMT"],"connection":["keep-alive"],"keep-alive":["timeout=5"]},"status":200,"statusText":"OK","url":"http://127.0.0.1:4000/api/v1/footer","responseType":"json"},"2002562214":{"body":[{"category":[{"id":1781,"name":"Super Income Plan"},{"id":1782,"name":"Advice"},{"id":1930,"name":"Child Plan"},{"id":1979,"name":"Early Cash Plan"},{"id":1982,"name":"Assured Income Plan"},{"id":1984,"name":"Golden Premier Saver Plan"},{"id":1985,"name":"Premier Assured Benefit"},{"id":1986,"name":"Cash Back Term Plan"}],"blogs":[{"title":"A Step-by-Step Guide to Choose the Best ULIP Plan in India","heading":"A Step-by-Step Guide to Choose the Best ULIP Plan in India","short_description":"\u003Cp>\u003Cspan>\u003Cstrong>ULIP\u003C/strong> is among the few financial products designed to give you the dual benefits of protection and growth.\u003C/span>\u003C/p>","tile_image":[{"media_img":{"url":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/a-step-by-step-guide-to-choose-the-best-ulip-plan-in-india.webp?VersionId=XGA2MdRwMrPgHIjf1mp84ZflVN0gc0nR","alt":"A Step-by-Step Guide to Choose the Best ULIP Plan in India"},"media_svg":null,"media_svg_alt":"","media_document":null}],"posted_on":"2025-05-28T09:46:16","updated_on":"2025-05-28T09:46:19","read_more_title":"Know More","slug":"/a-step-by-step-guide-to-choose-the-best-ulip-plan-in-india","field_bl_tag":"\u003Ca href=\"/blog/guides/recent\" hreflang=\"en\">Recent\u003C/a>","description":"\u003Cp>\u003Cspan>\u003Cstrong>ULIP\u003C/strong> is among the few financial products designed to give you the dual benefits of protection and growth. Since not all ULIPs are the same, this blog shares a comprehensive step-wise list to help individuals choose the best ULIP plan for themselves. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Start by understanding \u003C/span>\u003Ca href=\"https://www.shriramlife.com/blog/advice/things-to-know-about-unit-linked-insurance-plan\" target=\"_blank\">\u003Cspan>what is ULIP\u003C/span>\u003C/a>\u003Cspan>, gradually exploring the steps to choose the right ULIP that matches your financial goals and risk tolerance. \u003C/span>\u003C/p>\u003Ch2>What are ULIPs?\u003C/h2>\u003Cp>\u003Cspan>Unit Linked Insurance Plans (ULIPs) is a hybrid financial tool designed to give you the combined benefits of \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/protection-plan\" target=\"_blank\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/investment-plan\" target=\"_blank\">\u003Cspan>Investment Plans\u003C/span>\u003C/a>\u003Cspan>. They have become an attractive investment option for many because they provide Life Insurance coverage while letting policyholders earn market-linked returns.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Most ULIPs are flexible and allow policyholders to enjoy partial withdrawal after the initial lock-in period. Now that you’ve understood what is ULIP, you may explore the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/wealth-pro\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01). \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Besides providing dual benefits of protection and growth, this ULIP features a customised life cover, multiple fund options, cost-free fund switching, and liquidity benefits to help you achieve your financial goals. \u003C/span>\u003C/p>\u003Ch2>How do ULIPs Work?\u003C/h2>\u003Cp>\u003Cspan>People new to ULIP are generally unsure of how ULIP works, so let us clear it. When you purchase a ULIP and make premium payments, a portion of your premiums is used to provide life coverage while the balance is invested in market securities, such as equity, debt, balanced funds, etc., to earn market-linked returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This investment grows over a period (subject to market performance), and policyholders receive the accumulated fund value on maturity. In case of the policyholder’s untimely death, the insurer pays the amount to the nominees. \u003C/span>\u003C/p>\u003Ch2>Steps to Select the Best ULIP Plan in India\u003C/h2>\u003Ch3>Step 1: Understand ULIPS\u003C/h3>\u003Cp>\u003Cspan>You should never invest in any product you don’t clearly understand, so start by understanding what is ULIP, how ULIP works, and the different types of ULIPs. While there are numerous benefits of ULIP plans, the associated ULIP risks should also be considered before choosing any plan.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>This step is time-consuming, but it can help you understand the ins and outs of ULIPs so you choose the right goal-aligned plan.\u003C/span>\u003C/p>\u003Ch3>Step 2: Assess Your Financial Goals\u003C/h3>\u003Cp>\u003Cspan>Choosing the right ULIP plan depends significantly on what you’re investing for. So, pause and ask yourself whether you’re investing to build a substantial retirement fund, cover your child’s higher education expenses, wealth creation, or another goal. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Then, \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/investment-plan\" target=\"_blank\">\u003Cspan>explore ULIP plans\u003C/span>\u003C/a>\u003Cspan> that help you achieve them. For instance, you may search for ULIPs with primarily equity funds for wealth creation and plans with debt funds to earn stable returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You may consider the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/growth-plus\">\u003Cspan>Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L066V03) as it provides multiple fund classes and investment schemes to suit diverse financial goals.\u003C/span>\u003C/p>\u003Ch3>Step 3: Determine Your Risk Profile\u003C/h3>\u003Cp>\u003Cspan>Let your comfort with market volatility guide your ULIP choice. If you prioritise wealth creation and can handle moderate to high market risk, then you may invest mostly in equity funds. Individuals with low-risk tolerance should prefer ULIPs with more debt and balanced funds. \u003C/span>\u003C/p>\u003Ch3>Step 4: Compare Policies\u003C/h3>\u003Cp>\u003Cspan>Not every policy is created equally, so you should evaluate shortlisted options by analysing their distinct \u003Cstrong>ULIP risks\u003C/strong>, features, and benefits.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Compare each option based on fund performance over the last five to ten years, flexibility to switch funds, partial withdrawals, taxability of ULIP, premiums, minimum lock-in period, available fund options, and other factors that matter the most to you. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The best ULIP will always be transparent and align with your financial desires, risk tolerance, and expectations. \u003C/span>\u003C/p>\u003Ch3>Step 5: Check Associated Charges\u003C/h3>\u003Cp>\u003Cspan>ULIPs generally have numerous charges for premium allocation, mortality, fund management, etc. You should choose plans with minimum to no associated charges to maximise your returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>We provide ULIPs like the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/fortune-builder\">\u003Cspan>Shriram Life Fortune Builder Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L038V03) that provide cost-free, unlimited fund switching to benefit policyholders. You can explore our \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/wealth-pro\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01) if you’re looking for plans with zero charges on fund switching, premium redirection, and auto transfer options. \u003C/span>\u003C/p>\u003Ch3>Step 6: Evaluate Tax Benefits\u003C/h3>\u003Cp>\u003Cspan>The best ULIP provide more than protection and growth benefits; they help policyholders enjoy immediate savings through tax benefits. Sections 80C, 10(10D), and 45 determine the taxability of ULIP. Section 80C allows policyholders to deduct premium payments to lower their taxable liability up to ₹1.5 lakh/annum. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Section 10(10D) makes maturity proceeds tax-exempt if applicable rules are met. Your fund transfers within ULIP remain tax-free under section 45. Plan your investments strategically to avail maximum tax benefits of ULIP.\u003C/span>\u003C/p>\u003Ch3>Step 7: Finalise and Purchase\u003C/h3>\u003Cp>\u003Cspan>Once you’ve evaluated the shortlisted ULIPs against all the above factors, finalise the one that aligns with your goals, risk profile, budget, and expectations. \u003C/span>\u003C/p>\u003Ch2>Steps to Buy a ULIP Policy Online\u003C/h2>\u003Cp>\u003Cspan>If you’re ready to buy Shriram Life Insurance \u003Cstrong>ULIP\u003C/strong> plans online, start by visiting the shortlisted policy page and follow the steps below:\u003C/span>\u003C/p>\u003Cul>\u003Cli>\u003Cspan>Fill in the details at the top and click ‘Apply Online.’\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Verify your contact number via OTP to proceed.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Customise the policy by choosing policy value, premium amount, premium frequency, fund choice, etc. \u003C/span>\u003C/li>\u003Cli>\u003Cspan>Review the policy terms and confirm the details.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Make the payment and receive policy confirmation details on your registered contact details.\u003C/span>\u003C/li>\u003C/ul>\u003Ch2>Factors to Evaluate Before Investing in ULIP Policies\u003C/h2>\u003Cp>\u003Cspan>When choosing ULIP policies, always evaluate them based on factors like their flexibility, features, lock-in period, fund options, past performance, premium, associated charges, taxability of ULIP, and other aspects relevant to you. You can consult a certified financial expert for personalised guidance if you’re overwhelmed with the options and cannot make independent decisions. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>Choosing the right ULIP can help you build a financially secure future through market-linked returns while protecting your family members under reliable Life Insurance coverage. If you’re unable to choose the right plan, following the steps discussed above can help. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>At Shriram Life Insurance, you can explore various ULIPs designed to fulfil diverse financial goals. We also provide \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/savings-plan\" target=\"_blank\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/child-plan\" target=\"_blank\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> that complement ULIPs for maximum economic benefit.\u003C/span>\u003C/p>","category":"/blog/advice"},{"title":"ULIP vs Term Insurance: Which Option is Right for You?","heading":"ULIP vs Term Insurance: Which Option is Right for You?","short_description":"\u003Cp>\u003Cspan>ULIPS and Term Life Insurance\u003Cstrong> \u003C/strong>plans have become popular\u003Cstrong> \u003C/strong>investment options in the Indian market, each desig\u003C/span>\u003C/p>","tile_image":[{"media_img":{"url":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/ulip-vs-term-insurance-which-option-is-right-for-you_0.webp?VersionId=QDgexLgja6WeCU4LqvpR13x55tqR_tM3","alt":"ULIP vs Term Insurance: Which Option is Right for You?"},"media_svg":null,"media_svg_alt":"","media_document":null}],"posted_on":"2025-05-27T10:12:08","updated_on":"2025-05-27T10:13:11","read_more_title":"Know More","slug":"/ulip-vs-term-insurance-which-option-is-right-for-you","field_bl_tag":"\u003Ca href=\"/blog/guides/recent\" hreflang=\"en\">Recent\u003C/a>","description":"\u003Cp>\u003Cspan>ULIPS and Term Life Insurance\u003Cstrong> \u003C/strong>plans have become popular\u003Cstrong> \u003C/strong>investment options in the Indian market, each designed to fulfil different financial goals. ULIPs are dual-benefit products that combine investment benefits with life insurance coverage, whereas Term Life Insurance provides pure life cover with no investment component. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>To achieve specific financial goals, you must be clear about ULIPS vs. Term Insurance\u003Cstrong> \u003C/strong>Plans. This blog covers fundamental knowledge about ULIPs and Term Insurance Plans, their differences, and other related topics so you can choose the option that best suits your financial goals and risk tolerance.\u003C/span>\u003C/p>\u003Ch2>Understanding ULIP\u003C/h2>\u003Cp>\u003Cspan>Unit Linked Insurance Plan (ULIP) combines dual benefits of market-linked investments and life insurance into one product. It’s designed for individuals who want to secure their family’s future while growing their wealth over time. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Besides\u003Cstrong> \u003C/strong>investment benefits, their flexibility, partial withdrawals, fund options, tax benefits, etc., are additional standout features that make it an attractive investment to most. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Anyone who wants to enjoy market-linked growth, secure insurance coverage, and flexibility should consider including a Unit Linked Insurance Plan (ULIP), like the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/wealth-pro\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan>\u003Cstrong> \u003C/strong>(UIN: 128L096V01) in their portfolio.\u003C/span>\u003Cem>\u003Cspan>\u003Cstrong> \u003C/strong>\u003C/span>\u003C/em>\u003Cspan>Investment Plans like these are ideal for wealth creation and financial security. \u003C/span>\u003C/p>\u003Ch2>Understanding Term Insurance\u003C/h2>\u003Cp>\u003Cspan>Term Life Insurance provides financial protection to your family members in case of an unfortunate event like your untimely death. Unlike ULIPs, Term Insurance Plans don’t provide survival or maturity benefits.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>It is the best insurance plan for anyone whose sole objective is to ensure the family’s financial security even when they’re not around. The most notable features of Term Plans are their comparatively low premiums and high coverage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You may explore our \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/protection-plan\" target=\"_blank\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> like the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/smart-protection-plan\">\u003Cspan>Shriram Life Smart Protection Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N069V05), to secure your family’s financial future for challenging times. If you conduct a\u003Cstrong> \u003C/strong>premium comparison in the ULIP vs Term Insurance analysis, our Term Insurance will stand out for its incredibly lower premiums and long-term coverage. \u003C/span>\u003C/p>\u003Ch2>ULIP Vs Term Insurance: A Detailed Comparison\u003C/h2>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Point of Differentiation\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Unit Linked Insurance Plan (ULIP)\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Term Life Insurance\u003C/strong>\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Premium Costs\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Higher than Term Insurance because of the investment component\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Lower than ULIPs\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Investment Returns\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Potentially higher returns because of market-linked earnings\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Only death benefits are provided, making the returns less attractive than ULIPs\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Risk Coverage\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Risk coverage is typically lower than Term Insurance\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Higher and fixed risk coverage\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Flexibility \u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Highly flexible, especially regarding partial withdrawals after a pre-determined period\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Limited to no flexibility\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Customisation \u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Option to customise life cover based on requirements\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Basic customisation through optional riders, such as critical illness, accidental death benefit, etc.\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Tax Implications\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium payments can be deducted u/s 80C and maturity proceeds can be tax-exempt if all the rules u/s 10(10D) are fulfilled during the maturity period \u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premiums paid can be deducted u/s 80C and death benefits are tax-free u/s 10(10D)\u003C/span>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp> \u003C/p>\u003Ch2>Factors to Consider While Choosing Between ULIP and Term Insurance\u003C/h2>\u003Ch3>Financial Goals\u003C/h3>\u003Cp>\u003Cspan>Individuals willing to build wealth while staying insured under life coverage should choose a goal-aligned \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/investment-plan\" target=\"_blank\">\u003Cspan>Unit Linked Insurance Plan\u003C/span>\u003C/a>\u003Cspan> (ULIP). However, if your primary objective is to secure your family’s financial future even when you're not around, then Term Life Insurance is a better choice. \u003C/span>\u003C/p>\u003Ch3>Risk Appetite\u003C/h3>\u003Cp>\u003Cspan>ULIPs are market-linked, so their returns fluctuate due to external conditions. Hence, invest in ULIPs if you’re comfortable with market volatility and can bear medium to high risk. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Those desiring risk-free protection should choose Term Life Insurance as the returns remain fixed, unaffected by external factors. You can additionally invest in our \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/savings-plan\" target=\"_blank\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/child-plan\" target=\"_blank\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> that complement the Term Insurance for optimal returns. \u003C/span>\u003C/p>\u003Ch3>Investment Horizon\u003C/h3>\u003Cp>\u003Cspan>Since ULIPs are market-linked, you generally have to remain invested longer to earn substantial returns. Many ULIPs feature a specific lock-in period, making it a long-term commitment.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Conversely, Term Insurance can have a comparatively lower investment horizon as the return remains fixed throughout the policy period. \u003C/span>\u003C/p>\u003Ch3>Budget Constraints\u003C/h3>\u003Cp>\u003Cspan>People with lower budgets can choose Term Insurance Plans because they provide high coverage at a fraction of the amount typically required in ULIP plans. ULIPs demand higher budgets as a portion of the premium payment gets invested in market-linked instruments, such as bonds, equities, mutual funds, etc. \u003C/span>\u003C/p>\u003Ch3>Future Financial Needs\u003C/h3>\u003Cp>\u003Cspan>Your financial responsibilities may evolve with time, so always factor in potential expenses that may arise in the future, such as unavoidable property repairs, medical expenses, etc., while choosing between ULIP or Term Insurance. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>ULIPs partial withdrawal and market-linked returns may ease your financial burden, whereas Term Insurance will safeguard your family’s lifestyle against loss of income after your untimely death. \u003C/span>\u003C/p>\u003Ch2>Expert Advice\u003C/h2>\u003Cp>\u003Cspan>The entire ULIP vs Term Insurance debate can be confusing, so consult a certified financial expert for personalised guidance. Most experts recommend not mixing investment and protection unless you understand how each may influence your financial goal status. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Never mistake ULIPs as ‘guaranteed income’ products or ignore their lock-in periods when investing. We encourage individuals to invest early as it may help get slightly lower premiums.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Rohan, a 30-year, salaried individual with a dependent spouse and two children, wanted to secure his family’s financial future with maximum life coverage. Hence, he opted for the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/smart-protection-plan\" target=\"_blank\">\u003Cspan>Shriram Life Smart Protection Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N069V05) for security. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>He additionally invested small amounts in our \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/golden-jubilee-plan\">\u003Cspan>Shriram Life Golden Jubilee Plan\u003C/span>\u003C/a>\u003Cspan> (UIN 128L095V01) to support his wealth creation goals. Such balanced investment helped him achieve multiple goals without overexposing his investments to market volatility and preventing excessive premium burden. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>The whole ‘ULIP vs Term Insurance’ analysis isn’t about which is better but which is right for you. Term Insurance is ideal for creating a financial security net for your family so they can continue living a good life even when you’re not around. ULIPs, on the other hand, are great for providing life coverage while enjoying wealth creation. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>We recommend assessing your needs to make the right choice. At Shriram Life Insurance, we provide both Term Insurance and ULIPs, so you may explore our plans to fulfil your financial goals. \u003C/span>\u003C/p>","category":"/blog/advice"},{"title":"Maximising Your ULIP Returns: Tax Benefits Explained","heading":"Maximising Your ULIP Returns: Tax Benefits Explained","short_description":"\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\" lang=\"EN-US\">A Unit Linked Insurance Plan (ULIP) has become an attractive investment option for many Indians because it prov\u003C/span>\u003C/p>","tile_image":[{"media_img":{"url":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/maximizing-your-ulip-returns-tax-benefits-explained.webp?VersionId=XS0w_GpZZbq4SBzoiQo_As_tCV8BsGIm","alt":"Maximising Your ULIP Returns: Tax Benefits Explained"},"media_svg":null,"media_svg_alt":"","media_document":null}],"posted_on":"2025-05-26T07:22:36","updated_on":"2025-05-26T07:22:41","read_more_title":"Know More","slug":"/maximising-your-ulip-returns-tax-benefits-explained","field_bl_tag":"\u003Ca href=\"/blog/guides/recent\" hreflang=\"en\">Recent\u003C/a>","description":"\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">A Unit Linked Insurance Plan (ULIP) has become an attractive investment option for many Indians because it provides more than life insurance coverage and market-linked returns. We’re talking about the savings earned through\u003Cstrong> \u003C/strong>tax exemptions and deductions. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">This blog details the different tax implications of ULIPs and practical ways to maximise ULIP returns. You can use this information to plan your investments strategically for maximum savings and returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Understanding ULIP\u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Unit Linked Insurance Plan (ULIP) is a hybrid financial product that combines the benefits of \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/investment-plan\" target=\"_blank\">\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Investment Plans\u003C/span>\u003C/a>\u003Cspan lang=\"EN-US\" lang=\"EN-US\"> and \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/protection-plan\" target=\"_blank\">\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Protection Plans\u003C/span>\u003C/a>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">. It is designed to provide market-linked returns to policyholders while securing them and their family members under life insurance coverage.\u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Besides providing dual benefits of higher earning potential and stable life coverage, it stands out for its flexibility. For instance, if you have purchased our \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/wealth-pro\">\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan lang=\"EN-US\" lang=\"EN-US\"> (UIN: 128L096V01), you can enjoy easy access to your funds through partial withdrawals after the first five years.\u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">You also receive free fund switching, auto transfer, and premium redirection to maximise earnings. When you pay policy premiums, a portion goes towards providing life coverage, while the balance is invested in market securities for higher financial growth. Their\u003Cstrong> \u003C/strong>tax savings component also deserves special mention, so let’s explore it in the following section. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Tax Benefits of ULIP \u003C/span>\u003C/h2>\u003Ch3>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Section 80C\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Premiums paid on ULIPs can be deducted u/s 80C, providing immediate tax savings. However, policyholders can only deduct up to ₹ 1.5 lakh/annum. You can use our \u003C/span>\u003Ca href=\"https://www.shriramlife.com/income-tax-calculator\">\u003Cspan lang=\"EN-US\" lang=\"EN-US\">income tax calculator\u003C/span>\u003C/a>\u003Cspan lang=\"EN-US\" lang=\"EN-US\"> to gain clarity on your savings. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Section 10(10D)\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Section 10(10D) lists\u003Cstrong> \u003C/strong>tax exemption rules that determine whether maturity proceeds will be taxable. According to this section, maturity proceeds won’t be taxable on policies issued on or after 1st February 2021 if the premium paid doesn’t exceed ₹ 2.5 lakh or 10% of the policy value for any policy year. These tax implications can significantly increase your investment returns. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Section 45\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">One of the biggest ULIP tax benefits is that it doesn’t attract taxes on fund switching. Policyholders can use this clause to repeatedly rebalance their portfolios without triggering a taxable event, maximising ULIP returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Maximising Your ULIP Returns\u003C/span>\u003C/h2>\u003Ch3>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Strategies for Maximising Returns\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">While there are numerous ways to maximise ULIP returns, you should consider using its tax-free switching feature to move between equity, debt, or balanced funds based on market trends or your risk tolerance. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">For example, switching to equity in bullish markets and shifting to debt funds during volatile periods can help you earn stable returns without overexposing your investments to market risks.\u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">You can also plan your ULIP investments strategically to enjoy the maximum\u003Cstrong> \u003C/strong>tax savings. We have covered it in the previous section, so use it in your financial planning to gain a tax advantage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">We also encourage policyholders to track fund performance and make relevant adjustments for growth regularly. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Choosing the Right ULIP Plan\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Not all ULIPs are created equal, so choose a plan that aligns with your financial goals, budget, and risk profile. You may explore the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/growth-plus\">\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan lang=\"EN-US\" lang=\"EN-US\"> (UIN: 128L066V03) if you prioritise wealth creation while financially securing your family for challenging times. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">In addition to life coverage and market-linked returns, it provides loyalty benefits, multiple fund classes and investment schemes to help policyholders earn more, free fund switching, etc. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">If you have a low-risk profile, consider adding one of our \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/savings-plan\" target=\"_blank\">\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Savings Plans\u003C/span>\u003C/a>\u003Cspan lang=\"EN-US\" lang=\"EN-US\"> or \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/child-plan\" target=\"_blank\">\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Child Plans\u003C/span>\u003C/a>\u003Cspan lang=\"EN-US\" lang=\"EN-US\"> to your portfolio to complement or balance ULIP investments. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Long-Term Investment Horizon\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">ULIPs are not designed for short-term gains. Most of these plans feature a lock-in period, generally five years, and the market-linked returns make them most effective over 10 or 15 years or higher to generate substantial returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Hence, anyone who plans on maximising ULIP returns should treat it as a long-term investment.\u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Case Study\u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Rohan, a 35-year salaried individual in the 30% tax bracket, invested in the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/golden-jubilee-plan\">\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Shriram Life Golden Jubilee Plan\u003C/span>\u003C/a>\u003Cspan lang=\"EN-US\" lang=\"EN-US\"> (UIN 128L095V01). Since his priority was accumulating wealth for a secure retirement and he had a moderate to high-risk tolerance, he chose a 20-year policy tenure and paid ₹ 75,000 as a yearly premium. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">With additional investments including ₹10,000/year towards the Public Provident Fund (PPF), ₹ 25,000 for a National Savings Certificate, and ₹ 18,000 for Sukanya Samriddhi Yojana, he utilised full\u003Cstrong> \u003C/strong>tax benefits u/s 80C. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">It helped him save approximately ₹ 22,500 (75,000*30%) on ULIP premium payments alone, increasing his overall savings. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Common Mistakes to Avoid \u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Anyone purchasing ULIPs post 1st February 2021 should remember that tax exemptions u/s 10(10D) are only valid if the premium payments don’t exceed ₹2.5 lakh or 10% of the policy value in any year, so invest accordingly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">We encourage individuals to treat ULIPs as long-term investments and utilise the unlimited free fund-switching option and available tax implications for maximising ULIP returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Expert Recommendations\u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Whether you’re new to investing or a seasoned investor, we encourage everyone to keep their risk tolerance and financial goals at the centre of every investment decision. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">You should also focus on investing early and staying invested longer to enjoy greater returns through the power of compounding. Frequent reviews and rebalancing are recommended for achieving stable financial growth and substantial investment returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Conclusion\u003C/span>\u003C/h2>\u003Cp>\u003Ca href=\"https://www.shriramlife.com/life-insurance/investment-plan\" target=\"_blank\">\u003Cspan lang=\"EN-US\" lang=\"EN-US\">Unit Linked Insurance Plan\u003C/span>\u003C/a>\u003Cspan lang=\"EN-US\" lang=\"EN-US\"> (ULIP) isn’t a regular financial product, but a strategic tool designed to provide multiple benefits in one product. Besides flexibility, life insurance coverage, and market-linked growth, it also provides substantial tax savings when utilised correctly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\"EN-US\" lang=\"EN-US\">You can use the information shared above to maximising ULIP returns and ULIP tax benefits. If you’re looking for good ULIPs, Shriram Life Insurance provides numerous ULIPs designed to achieve diverse financial goals. \u003C/span>\u003C/p>","category":"/blog/advice"},{"title":"What are the Essential Tips to Secure Your Retirement?","heading":"What are the Essential Tips to Secure Your Retirement?","short_description":"\u003Cp>\u003Cspan>Living a comfortable, worry-free, and secure retirement life requires thoughtful planning and investments during active work years.\u003C/span>\u003C/p>","tile_image":[{"media_img":{"url":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/what-are-the-essential-tips-to-secure-your-retirement.webp?VersionId=RsWKbwlRgrhbiXDU_kjokuGNnRBQBt5P","alt":"What are the Essential Tips to Secure Your Retirement?"},"media_svg":null,"media_svg_alt":"","media_document":null}],"posted_on":"2025-05-23T06:53:32","updated_on":"2025-05-23T06:53:38","read_more_title":"Know More","slug":"/what-are-the-essential-tips-to-secure-your-retirement","field_bl_tag":"\u003Ca href=\"/blog/guides/recent\" hreflang=\"en\">Recent\u003C/a>, \u003Ca href=\"/blog/guides/retirement\" hreflang=\"en\">Retirement\u003C/a>","description":"\u003Cp>\u003Cspan>Living a comfortable, worry-free, and secure retirement life requires thoughtful planning and investments during active work years. This blog covers practical retirement planning tips to help individuals secure their retirement with minimal risk. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Making safe investments is one of the best ways to secure one’s retirement, as it acts as a financial cushion during short and long-term economic uncertainties. While the Indian market provides numerous investment options to fulfil various retirement goals, insurance plans emerge as the most reliable tool for financial stability and security. \u003C/span>\u003C/p>\u003Ch2>Why Retirement Planning Should Be Your Top Priority?\u003C/h2>\u003Cp>\u003Cspan>While retirement marks the beginning of a new life chapter, it also marks the end of your fixed salary income. Anyone who wants to continue leading a financially secure life in their golden years must prioritise \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/retirement-plan\" target=\"_blank\">\u003Cspan>financial planning for retirement\u003C/span>\u003C/a>\u003Cspan> during their early work years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Early retirement planning and goal-aligned strategic investments can help you build multiple post-retirement income streams. Besides replacing your salary income, this predictable income will ensure you don’t outlive your savings. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The right investments will outgrow inflation and sustain unpredictable market conditions, securing your financial future. \u003C/span>\u003C/p>\u003Ch2>Set Clear and Achievable Retirement Goals\u003C/h2>\u003Cp>\u003Cspan>Everyone wants adequate funds to live a comfortable retirement life, but how much is ‘adequate’ for you? Since people have varying preferences, lifestyles, desires, and obligations, they should set clear and achievable retirement goals that support their dream retirement life.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you want to lead a luxurious retired life with the financial freedom to travel to dream destinations, pursue multiple hobbies, take care of all family responsibilities, etc., you must set goals that help fulfil these desires. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This approach brings clarity, helping you choose the right \u003Cstrong>i\u003C/strong>nvestment strategies for retirement. Setting clear goals sets a strong foundation for long-term financial stability and planning\u003C/span>\u003Cem>\u003Cspan>\u003Cstrong>,\u003C/strong>\u003C/span>\u003C/em>\u003Cspan> so don’t ignore this step.\u003C/span>\u003C/p>\u003Ch2>Boost Your Savings with Smart Strategies\u003C/h2>\u003Cp>\u003Cspan>Controlling your expenses and making higher contributions to relevant investment plans is a smart way to boost retirement savings. You can start investing early to let your capital grow with the compounding effect. Additional savings can be enjoyed by claiming tax benefits on relevant investments. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While there are numerous tax-saving options, such as the Public Provident Fund (PPF), Equity-Linked Saving Scheme (ELSS), National Pension System (NPS), etc., you can invest in \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/assured-income-plan\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N053V05) as it combines standout features of Savings, Child, and Retirement Plans, besides providing tax benefits u/s 80C. \u003C/span>\u003C/p>\u003Ch2>Diversify Investments to Reduce Risks\u003C/h2>\u003Cp>\u003Cspan>Diversifying your investments is one of the most essential retirement tips you must follow. It will help you optimise your portfolio’s performance while reducing risks tied to market volatility. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>For instance, if you invest in market-linked mutual funds or equity markets to tap into higher return potential, you must offset the risk by including non-linked \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/savings-plan\" target=\"_blank\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan>, such as the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/early-cash-plan\">\u003Cspan>Shriram Life Early Cash Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N093V03) in your portfolio.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Plans like these provide a capital guarantee while growing your retirement savings through the power of compounding. You can \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/assured-income-plan-calculator\">\u003Cspan>calculate your Life Insurance premium returns\u003C/span>\u003C/a>\u003Cspan> for better planning. \u003C/span>\u003C/p>\u003Ch2>Avoid Common Retirement Planning Mistakes\u003C/h2>\u003Cp>\u003Cspan>Being aware of \u003C/span>\u003Ca href=\"https://www.shriramlife.com/blog/advice/7-retirement-mistakes-experts-dont-want-you-to-know\" target=\"_blank\">\u003Cspan>retirement mistakes to avoid \u003C/span>\u003C/a>\u003Cspan>can help you with efficient financial planning for retirement. Many people make common mistakes, such as underestimating their future expenses, starting saving late, not reviewing their investments, etc. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>When you create a contingency fund to accommodate unexpected emergencies, start early retirement planning, and factor in expenses that may increase your cost of living, you’re more likely to build a large enough retirement fund for a comfortable and financially secure retirement life. \u003C/span>\u003C/p>\u003Ch2>Adapting Plans as Financial Needs Change\u003C/h2>\u003Cp>\u003Cspan>Financial needs keep evolving with time, so you should always review your retirement plans to realign them with your current financial goals and requirements. While reviewing your plans every six months is ideal, those busy with day-to-day life can review them annually. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>However, reviews must be non-negotiable during important life events, such as career transitions, additional responsibilities, shifts in health conditions, etc. We encourage adopting flexibility to achieve new retirement goals effortlessly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If your new conditions require additional income sources within the coming months, consider including \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\">\u003Cspan>Shriram Life Immediate Annuity Plus\u003C/span>\u003C/a>\u003Cspan> (UIN:128N063V07) in your portfolio. This plan provides immediate annuity plus insurance so you can support your daily lifestyle expenses while enjoying life coverage. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>Thoughtfully planned and goal-aligned investment choices can help everyone achieve a secure retirement. If you’re in the early planning stages, consider implementing the retirement planning tips discussed in this blog and use reliable retirement calculators to simplify the process. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You can invest in the various Retirement and \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/protection-plan\" target=\"_blank\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> provided by Shriram Life Insurance, as every plan is designed to fulfil diverse retirement goals. We also provide insurance plans with combined Retirement, Savings, and \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/child-plan\" target=\"_blank\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> benefits to help people accomplish multiple financial goals simultaneously. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>So, explore our plans and include relevant ones in your portfolio to get closer to your retirement goals. \u003C/span>\u003C/p>","category":"/blog/advice"},{"title":"Why ULIPs Might Be the Best for Your Financial Planning: A Complete Guide","heading":"Why ULIPs Might Be the Best for Your Financial Planning: A Complete Guide","short_description":"\u003Cp>\u003Cspan>People generally have different financial goals, but desires like wealth creation to support retirement years and securing family’s financial\u003C/span>\u003C/p>","tile_image":[{"media_img":{"url":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/why-ulips-might-be-the-best-for-your-financial-planning.webp?VersionId=9JBy.RERK8kG3x.JVceBJFRb_Nt387nk","alt":"Why ULIPs Might Be the Best for Your Financial Planning"},"media_svg":null,"media_svg_alt":"","media_document":null}],"posted_on":"2025-05-22T07:16:14","updated_on":"2025-05-22T07:16:18","read_more_title":"Know More","slug":"/why-ulips-might-be-the-best-for-your-financial-planning-a-complete-guide","field_bl_tag":"\u003Ca href=\"/blog/guides/recent\" hreflang=\"en\">Recent\u003C/a>","description":"\u003Cp>\u003Cspan>People generally have different financial goals, but desires like wealth creation to support retirement years and securing family’s financial future for unfortunate times remain common. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>ULIPs are gaining massive popularity in the Indian financial market as they provide dual benefits of protection and growth. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog will help you understand why ULIPs are the best for your financial planning so you can make informed investment decisions. \u003C/span>\u003C/p>\u003Ch2>What is ULIP (Unit Linked Insurance Plan)?\u003C/h2>\u003Cp>\u003Cspan>ULIP is a specialised financial product that combines the dual benefits of \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/protection-plan\" target=\"_blank\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/investment-plan\" target=\"_blank\">\u003Cspan>Investment Plans\u003C/span>\u003C/a>\u003Cspan>. These plans are ideal for most individuals as they provide Life Insurance coverage and market-linked returns, supporting two financial goals simultaneously.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re looking for the best ULIP plans, consider exploring the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/wealth-pro\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01). \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Besides life coverage and the potential for higher returns, it provides liquidity through partial withdrawals after the lock-in period, cost-free fund switching, customised life cover, and several benefits. \u003C/span>\u003C/p>\u003Ch2>How ULIP Works?\u003C/h2>\u003Cp>\u003Cspan>While the previous section cleared \u003C/span>\u003Ca href=\"https://www.shriramlife.com/blog/advice/things-to-know-about-unit-linked-insurance-plan\" target=\"_blank\">\u003Cspan>what is ULIP\u003C/span>\u003C/a>\u003Cspan>, let’s now explore\u003Cstrong> \u003C/strong>how ULIP works. Your ULIP premium payments are divided into two parts. One portion is used to secure Life Insurance coverage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The balance is invested in market securities like equities, debts, or balanced funds of the policyholder’s choice to earn higher returns.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Upon maturity, the accumulated fund value is disbursed to the policyholder. If the policyholder dies before the policy maturity, the amount is given to the nominees. \u003C/span>\u003C/p>\u003Ch2>How to Maximise Returns from a ULIP?\u003C/h2>\u003Cp>\u003Cspan>There are numerous ways to maximise your ULIP returns, but you may consider exploring the following:\u003C/span>\u003C/p>\u003Cul>\u003Cli>\u003Cspan>Remain invested for a longer period to earn higher returns. The same technique can maximise returns from \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/savings-plan\" target=\"_blank\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> or other investments.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Allocate funds based on your desired investment horizon, risk profile, and financial goals.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Invest in ULIPs like\u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/growth-plus\">\u003Cspan> Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L066V03) that provide cost-free fund switching.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Minimise your partial withdrawals so the amount remains invested for an extended period and earns higher returns. \u003C/span>\u003C/li>\u003C/ul>\u003Ch2>Who Should Buy a ULIP Plan?\u003C/h2>\u003Cp>\u003Cspan>If you’re wondering isULIP a good investment for you, we’d say it’s ideal for anyone who wants to obtain dual benefits of financial growth and protection from a single financial product. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You can also choose ULIPs to complement your traditional investments, such as \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/retirement-plan\" target=\"_blank\">\u003Cspan>insurance for retirement\u003C/span>\u003C/a>\u003Cspan>, \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/child-plan\" target=\"_blank\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan>, mutual funds, etc., to accomplish multiple financial goals. \u003C/span>\u003C/p>\u003Ch2>How is the ULIP Plan Structured?\u003C/h2>\u003Cp>\u003Cspan>ULIP plans act as an insurance and investment product through a well-defined, straightforward structure. A portion of the premium payment is used to provide Life Insurance coverage and the balance is invested in market-linked funds of your choice.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>The Life Insurance component accumulates over a period, whereas the chosen funds earn returns according to the market conditions. \u003C/span>\u003C/p>\u003Ch2>Types of ULIPs\u003C/h2>\u003Ch3>Equity-based ULIPs\u003C/h3>\u003Cp>\u003Cspan>These plans invest more in equity and equity-related securities, such as stocks. While they carry higher risk than debt and balanced funds, their potential to earn greater returns is also high. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>It is one of the best ULIP plans for people with high-risk profiles who prioritise wealth creation and life coverage. \u003C/span>\u003C/p>\u003Ch3>Debt-based ULIPs\u003C/h3>\u003Cp>\u003Cspan>Debt-based ULIPs are a more stable investment option for people with low risk tolerance. In such plans, fund allocation is primarily toward debt instruments such as corporate debt, government bonds, and other fixed-interest instruments. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you prefer capital preservation and stable growth, you may proceed with debt-based ULIPs. \u003C/span>\u003C/p>\u003Ch3>Balanced ULIPs\u003C/h3>\u003Cp>\u003Cspan>Also known as hybrid ULIPs, these plans generally invest in equity and debt instruments to balance risk and growth. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The equity-debt ratio can vary depending on the fund’s objective, providing a diversified investment approach. Investors with a moderate risk profile should explore balanced ULIPs.\u003C/span>\u003C/p>\u003Ch2>Benefits of ULIPs\u003C/h2>\u003Ch3>Dual Benefit of Insurance and Investment\u003C/h3>\u003Cp>\u003Cspan>One of the biggest benefits of ULIP is its dual benefits of wealth creation and Life Insurance coverage, making it a comprehensive investment tool. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You may invest in ULIPs like the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/golden-jubilee-plan\">\u003Cspan>Shriram Life Golden Jubilee Plan\u003C/span>\u003C/a>\u003Cspan> (UIN 128L095V01) as it builds financial security for your family while letting you earn market-linked returns from equity, debt, and balance funds. \u003C/span>\u003C/p>\u003Ch3>Tax Benefits\u003C/h3>\u003Cp>\u003Cspan>Anyone wondering is ULIP tax-free should check ULIP tax implications regulated under sections 80C, 10(10D), and 45. You can deduct ULIP premium payments u/s 80C and enjoy tax exemption u/s 10(10D) and 45 if all relevant guidelines are met.\u003C/span>\u003C/p>\u003Ch3>Flexibility\u003C/h3>\u003Cp>\u003Cspan>\u003Cstrong>ULIP\u003C/strong> provides extreme flexibility in the form of partial withdrawal after the lock-in period, unlimited fund-switching throughout the policy period, top-up options, etc., to support your evolving financial needs and goals. \u003C/span>\u003C/p>\u003Ch2>What is the Lock-in Period of a ULIP?\u003C/h2>\u003Cp>\u003Cspan>There is a 5-year lock-in period for most ULIPs. However, it can be higher for some policies, so check it with the respective insurer. This lock-in period encourages disciplined investing and allows the fund value to grow steadily with the power of compounding. \u003C/span>\u003C/p>\u003Ch2>ULIP vs Other Investment Options\u003C/h2>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Basis of Differentiation\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>ULIP\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Term Insurance\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Mutual Funds\u003C/strong>\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Policy Purpose\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Investment and protection\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Pure Life Insurance\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Pure investment\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Returns\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Market-linked returns from chosen funds\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>No returns (only risk coverage)\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Market-linked returns\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Tax Benefits\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium deduction u/s 80C and tax exemption on maturity proceeds (if applicable) u/s 10(10D) and 45\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium deduction u/s 80C and tax-free death proceeds\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium deduction u/s 80C for only Equity-Linked Saving Scheme (ELSS)\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Lock-in Period\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>5 years\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>No lock-in period\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>3-year lock-in for ELSS, none for others\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Flexibility to switch funds\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Available\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Not Applicable\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Partial or full switching is available\u003C/span>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp> \u003C/p>\u003Ch2>Features of ULIP Plans\u003C/h2>\u003Ch3>Dual Benefit Structure\u003C/h3>\u003Cp>\u003Cspan>All the\u003Cstrong> \u003C/strong>best ULIP plans feature the dual benefits of Life Insurance coverage for financial security and the potential to earn higher market-linked returns for wealth creation. \u003C/span>\u003C/p>\u003Ch3>Tax Benefits\u003C/h3>\u003Cp>\u003Cspan>Tax deduction and tax exemption benefits are available under Sections 80C, 10(10D), and 45. While premium payments can be deducted to lower taxable liability, tax exemption (if available) can increase your overall ULIP returns.\u003C/span>\u003C/p>\u003Ch3>Choice of Funds\u003C/h3>\u003Cp>\u003Cspan>You can choose your desired funds while buying the policy or change it numerous times throughout the policy duration to meet your evolving financial needs and risk profile.\u003C/span>\u003C/p>\u003Ch3>Partial Withdrawal\u003C/h3>\u003Cp>\u003Cspan>Partial withdrawal is available after the initial lock-in period of 5 years. You can use this feature to cover any unexpected financial emergency. \u003C/span>\u003C/p>\u003Ch3>Transparency\u003C/h3>\u003Cp>\u003Cspan>The transparent policy structure and charges make ULIPs one of the most desired investment options for most investors. \u003C/span>\u003C/p>\u003Ch2>Fund Options Under ULIPs\u003C/h2>\u003Cp>\u003Cspan>ULIP features numerous fund options, such as equity, debt, balanced, and more. You must check the available fund options before investing, as not every ULIP has the same fund choices. \u003C/span>\u003C/p>\u003Ch2>What are ULIP Charges?\u003C/h2>\u003Cp>\u003Cspan>Since ULIP has an investment and insurance component, insurers levy various charges to cover the management expenses. While transparent, they may lower your ULIP returns slightly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Premium allocation charges, fund management charges, mortality charges, surrender charges, and policy administration charges are a few ULIP charges you may encounter. You must choose ULIPs with minimum charges to maximise returns. \u003C/span>\u003C/p>\u003Ch2>Practical Tips for ULIP Investors\u003C/h2>\u003Cp>\u003Cspan>If you’re new to ULIP investments, consider implementing the following tips for maximising returns:\u003C/span>\u003C/p>\u003Cul>\u003Cli>\u003Cspan>Stay invested for a longer duration to earn substantial returns\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Choose fund allocation based on your risk profile\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Utilise free fund switches strategically depending on the prevailing market conditions\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Avoid premature surrender or excessive partial withdrawals\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Monitor fund performance frequently and make relevant changes whenever needed\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Consult a certified financial expert for personalised guidance\u003C/span>\u003C/li>\u003C/ul>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>ULIP is a smart investment choice for modern investors as it fulfils two financial goals at once – securing the family’s financial future through Life Insurance coverage and wealth creation through market-linked returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re ready to strengthen your and your family’s financial future, you may consider adding the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/investment-plan\" target=\"_blank\">\u003Cspan>best ULIP plans\u003C/span>\u003C/a>\u003Cspan> to your portfolio. Start by exploring ULIPs at Shriram Life Insurance, as each plan is uniquely designed to fulfil diverse financial goals. \u003C/span>\u003C/p>","category":"/blog/advice"},{"title":"Is Your ULIP Strategy Outdated? Discover the New Trends","heading":"Is Your ULIP Strategy Outdated? Discover the New Trends","short_description":"\u003Cp>\u003Cspan>ULIP plans are a smart choice for individuals looking to combine the dual benefits of \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insura</body></html>\">\u003C/a>\u003C/p>","tile_image":[{"media_img":{"url":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/is-your-ulip-strategy-outdated-discover-the-new-trends.webp?VersionId=3JcpUcbDrrj2BNlc7A84Wdz6T_iEGkl9","alt":"Is Your ULIP Strategy Outdated? Discover the New Trends"},"media_svg":null,"media_svg_alt":"","media_document":null}],"posted_on":"2025-05-22T06:33:03","updated_on":"2025-05-22T06:32:05","read_more_title":"Know More","slug":"/is-your-ulip-strategy-outdated-discover-the-new-trends","field_bl_tag":"\u003Ca href=\"/blog/guides/recent\" hreflang=\"en\">Recent\u003C/a>","description":"\u003Cp>\u003Cspan>ULIP plans are a smart choice for individuals looking to combine the dual benefits of \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/protection-plan\" target=\"_blank\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> and Investment Plans in one financial product. While these plans feature numerous benefits, the changing regulations, tax implications, and market offering may make your traditional ULIP investment strategy obsolete.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog shares the latest ULIP trends and investment strategies so you don’t miss opportunities to maximise returns. \u003C/span>\u003C/p>\u003Ch2>Introduction to ULIPs \u003C/h2>\u003Cp>\u003Cspan>Unit Linked Insurance Plans (ULIPs) like the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/wealth-pro\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01) is a hybrid financial product that provides life coverage to policyholders and their family members while letting them enjoy market-linked returns for wealth creation. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>A portion of the premium paid on ULIP plans is used to secure Life Insurance coverage, while the balance is spent on market securities, such as debt funds, equities, balanced funds, etc., of the policyholder’s choice. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>When ULIP was first introduced in the Indian market, it received criticism because of the associated charges, unclear policy structure, and high commissions paid to distributors. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>However, after IRDA’s intervention and reforms in 2010, limits were imposed on charges and ULIPs were made more transparent for investor protection.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Since then, ULIPs have evolved into investor-friendly financial tools that facilitate wealth creation and financial safety for policyholders’ families. \u003C/span>\u003C/p>\u003Ch2>Latest Trends in ULIP Investment\u003C/h2>\u003Ch3>Return of Mortality Charges \u003C/h3>\u003Cp>\u003Cspan>Mortality charges refer to the fees deducted by insurers to cover the risk of providing death benefits (sum assured) to nominees if the policyholder dies during the policy term. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Traditionally, the mortality charges on most ULIP plans were non-refundable. However, many insurers now provide a return of mortality charges. They add the deducted charges to the fund value upon maturity, increasing the overall returns.\u003C/span>\u003C/p>\u003Ch3>Tax on Capital Gains\u003C/h3>\u003Cp>\u003Cspan>Previously, high-premium ULIPs enjoyed tax exemption u/s 10(10D) but the revised tax implications made maturity proceeds taxable if their premium payment exceeded ₹ 2.5 lakh in any year during the policy duration. This rule applies to ULIPs purchased after 1st February 2021.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>The 2025 budget also released a new rule wherein ULIPs whose annual premium exceeds 10% of the policy value will attract long-term capital gains (LTCG) tax on maturity. Hence, anyone planning to invest in any types of ULIP plans should consider choosing a lower premium amount for maximum tax benefits. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You can also complement your ULIP investments with our risk-free \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/savings-plan\" target=\"_blank\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> or \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/child-plan\" target=\"_blank\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> to accomplish multiple financial goals faster. \u003C/span>\u003C/p>\u003Ch3>Preference for Life-Stage ULIPs\u003C/h3>\u003Cp>\u003Cspan>Of all the different types of ULIP plans, many investors now prefer life-stage ULIPs because of their dynamic asset allocation strategy. They adjust the investment mix between equity and debt based on the policyholder’s age and risk profile. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>For example, these plans may initially invest in a higher proportion of equity funds and fewer debt funds for young investors. As they age, life-stage ULIPs may gradually transfer a majority of investment to debt funds and fewer amount to equity funds to preserve your accumulated amount.\u003C/span>\u003C/p>\u003Ch3>Latest Strategies to Invest in ULIPs\u003Cspan> \u003C/span>\u003C/h3>\u003Cp>\u003Cspan>Anyone investing in ULIP plans should remain informed on the latest tax implications, policy structure, features, etc., to choose the right plan. Use the available top-up options to invest additional money to boost returns during progressive market conditions and transfer funds to debt instruments during volatile markets. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Everyone should continue monitoring and reviewing fund performance to make relevant fund switches. Consider consulting a certified financial expert for personalised guidance if you’re overwhelmed with the process and cannot make independent decisions. \u003C/span>\u003C/p>\u003Ch2>Types of ULIP Plans\u003C/h2>\u003Ch3>Single premium ULIPs\u003C/h3>\u003Cp>\u003Cspan>As the name suggests, these are ULIPs where policyholders must pay the entire premium upfront in a single payment. While they provide the same benefits as other traditional ULIPs, they stand out for eliminating the need to make future premium payments. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>It is beneficial for people who don’t have enough time and memory muscle to make multiple, timely payments. You may explore our \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/fortune-builder\">\u003Cspan>Shriram Life Fortune Builder Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L038V03) as this single premium ULIP provides impressive flexibility, cost-free fund switches, tax benefits, and numerous other benefits. \u003C/span>\u003C/p>\u003Ch3>Regular premium ULIPs \u003C/h3>\u003Cp>\u003Cspan>They are traditional ULIPs where policyholders pay a predetermined premium at regular intervals, such as monthly, quarterly, or yearly. These plans are generally preferred by salaried employees who can pay small premium amounts consistently every month. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re looking for a good regular premium ULIP, consider exploring the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/growth-plus\">\u003Cspan>Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L066V03). Besides providing secure life coverage to your loved ones and facilitating wealth creation, it provides flexibility, cost-free fund switching and redirection of premium, loyalty benefits, riders, and more. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>ULIP plans are excellent financial tools for achieving the dual goals of wealth creation and strengthening the family’s financial future when you’re not around. If you want to maximise your ULIP returns, ensure you keep adjusting your investment strategy according to the changing trends. You can find the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/investment-plan\" target=\"_blank\">\u003Cspan>best ULIP plans\u003C/span>\u003C/a>\u003Cspan> at Shriram Life Insurance, designed to fulfil diverse financial goals. \u003C/span>\u003C/p>","category":"/blog/advice"},{"title":"How Can Retirement Plans Ensure Financial Stability in Your Golden Years?","heading":"How Can Retirement Plans Ensure Financial Stability in Your Golden Years?","short_description":"\u003Cp>\u003Cspan>Everyone wants a secure and pleasant retirement where they can pursue their hobbies, spend quality time with their loved ones, travel whereve\u003C/span>\u003C/p>","tile_image":[{"media_img":{"url":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/how-can-retirement-plans-ensure-financial-stability-in-your-golden-years.webp?VersionId=VpYvs4Y6ARyeYPfofP2MFbWPc3GEPkDc","alt":"How Can Retirement Plans Ensure Financial Stability in Your Golden Years?"},"media_svg":null,"media_svg_alt":"","media_document":null}],"posted_on":"2025-05-20T10:24:11","updated_on":"2025-05-20T10:24:16","read_more_title":"Know More","slug":"/how-can-retirement-plans-ensure-financial-stability-in-your-golden-years","field_bl_tag":"\u003Ca href=\"/blog/guides/retirement\" hreflang=\"en\">Retirement\u003C/a>, \u003Ca href=\"/blog/guides/recent\" hreflang=\"en\">Recent\u003C/a>","description":"\u003Cp>\u003Cspan>Everyone wants a secure and pleasant retirement where they can pursue their hobbies, spend quality time with their loved ones, travel wherever they desire, etc. However, few realise that these retirement goals can only be achieved through financial stability in their golden years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog discusses how people can achieve financial stability through Retirement Plans for an economically secure post-retirement life. While there is no ‘one’ way to build a financially secure future, a mix of disciplined savings, smart investing, and the right insurance choices can create a future where all your needs are met and your financial independence remains intact. \u003C/span>\u003C/p>\u003Ch2>Why is Financial Stability Crucial for Retirement?\u003C/h2>\u003Cp>\u003Cspan>Whether you want a simple and laid-back lifestyle in retirement or one filled with luxury, you will need strong financial stability to live the desired post-retirement life. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Investing in the right \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/savings-plan\" target=\"_blank\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan>, market-linked plans, \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/retirement-plan\" target=\"_blank\">\u003Cspan>insurance for retirement\u003C/span>\u003C/a>\u003Cspan>, etc., can help you build multiple post-retirement income sources to support your preferred lifestyle. This income will strengthen your financial stability, ensuring you have substantial funds to tackle inflation, rising healthcare costs, etc. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>To establish lifetime financial security, consider including the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\">\u003Cspan>Shriram Life Immediate Annuity Plus\u003C/span>\u003C/a>\u003Cspan> (UIN:128N063V07) in your investment portfolio. It enables you to take an annuity for life, so you don’t have to worry about outliving your savings. \u003C/span>\u003C/p>\u003Ch2>The Role of a Structured Retirement Plan\u003C/h2>\u003Cp>\u003Cspan>A structured retirement plan is a thoughtfully designed financial tool that helps people accumulate funds and create post-retirement income for their golden years. It’s one of the best ways to build a financial safety net that always protects you against unexpected expenses, preserving your financial independence for a worry-free life. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While working employees can rely on employer-sponsored plans, such as the Employees’ Provident Fund (EPF), National Pension System (NPS), etc., self-employed individuals must explore personal pension plans, annuities, and other goal-aligned options to fulfil their retirement goals. You should select Retirement or\u003C/span>\u003Cem>\u003Cspan>\u003Cstrong> \u003C/strong>\u003C/span>\u003C/em>\u003Ca href=\"https://www.shriramlife.com/life-insurance/investment-plan\" target=\"_blank\">\u003Cspan>Investment Plans\u003C/span>\u003C/a>\u003Cspan> that match your goals and risk tolerance to maximise returns. \u003C/span>\u003C/p>\u003Ch2>How to Choose the Right Retirement Plan\u003C/h2>\u003Cp>\u003Cspan>Start by assessing your financial goals, risk tolerance, current savings, lifestyle expectations, and future needs. Then, select a plan that matches these aspects. If you’re looking to create a balanced investment portfolio to secure your retirement, invest in a mix of government-backed schemes for security and private insurance plans for steady growth and insurance coverage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Since life is unexpected, choose retirement plans that provide liquidity and flexibility to cover emergencies. Consider the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/pension-plus\">\u003Cspan>Shriram Life Pension Plus\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L065V03), which provides partial withdrawals after the first five years to cover financial needs. \u003C/span>\u003C/p>\u003Ch2>Invest Smartly for a Stable Future\u003C/h2>\u003Cp>\u003Cspan>Smart investing decisions can help you accomplish your\u003Cstrong> \u003C/strong>retirement goals faster. One of the best investment and savings strategies for retirement is starting early, as it provides more time for your investment to grow through compounding interest. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>People with low-risk tolerance should invest in non-linked insurance plans and government bonds for steady returns, while those with medium to high-risk profiles can explore market-linked options for greater return potential. You can also explore tax-saving options to lower taxable income and liability, boosting retirement savings.\u003C/span>\u003C/p>\u003Ch2>Avoid Pitfalls That Can Undermine Financial Stability \u003C/h2>\u003Cp>\u003Cspan>Some underestimate the time and discipline it takes to build a substantial retirement fund. Ensure you don’t make this mistake because the later you start your retirement planning, the more aggressive your savings must be. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You should also factor in inflation while deciding the retirement fund you want to build, as it will help you achieve inflation-beating returns for an economically secure future. Another common mistake is assuming their pension income alone can cover all their retirement expenses. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While pension can become a reliable post-retirement income source, it shouldn’t become the ‘only’ source. Consider including plans like the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/assured-income-plan\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N053V05) in your investment portfolio because it provides a regular income option to assist policyholders with their monthly expenses. \u003C/span>\u003C/p>\u003Ch2>Secure Your Retirement with Insurance\u003C/h2>\u003Cp>\u003Cspan>Anyone who wants a financially secure retirement should prioritise non-linked insurance products for their low-risk and steady growth benefits. Since their returns remain unaffected by market volatility or other external factors, they add financial predictability and stability to your golden years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While numerous insurance options exist, you may explore term plans to generate income-replacing returns. Health insurance plans should also be prioritised as they can tackle the rising healthcare costs. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Annuity plans must become a core part of your retirement\u003Cstrong> \u003C/strong>investment portfolio to build guaranteed, lifelong post-retirement income streams. If you’re overwhelmed by the options, take personalised guidance from a certified financial expert. \u003C/span>\u003C/p>\u003Ch2>Conclusion \u003C/h2>\u003Cp>\u003Cspan>Achieving financial stability during retirement requires careful retirement planning, disciplined savings, and smart investment choices. These steps collectively create a financial safety net that ensures peace of mind, independence, and the freedom to live retirement years on your own terms. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>At Shriram Life Insurance, we provide various retirement plans designed to fulfil diverse retirement goals. You can \u003C/span>\u003Ca href=\"https://www.shriramlife.com/reach-us\">\u003Cspan>contact the Shriram Life Insurance team\u003C/span>\u003C/a>\u003Cspan> for assistance in choosing the right plan. \u003C/span>\u003C/p>","category":"/blog/advice"},{"title":"How Can You Maximize Your Retirement Income Effectively?","heading":"How Can You Maximize Your Retirement Income Effectively?","short_description":"\u003Cp>Retirement is a time to enjoy the rewards of your hard work, but achieving true financial stability in your golden years requires careful planning \u003C/p>","tile_image":[{"media_img":{"url":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/how-can-you-maximize-your-retirement-income-effectively.webp?VersionId=d1Ih8si0ZYVPzpqKijK9TEA7eO4HVm.p","alt":"How Can You Maximise Your Retirement Income Effectively?"},"media_svg":null,"media_svg_alt":"","media_document":null}],"posted_on":"2025-05-20T06:28:15","updated_on":"2025-05-20T06:28:20","read_more_title":"Know More","slug":"/how-can-you-maximise-your-retirement-income-effectively","field_bl_tag":"\u003Ca href=\"/blog/guides/retirement\" hreflang=\"en\">Retirement\u003C/a>, \u003Ca href=\"/blog/guides/recent\" hreflang=\"en\">Recent\u003C/a>","description":"\u003Cp>Retirement is a time to enjoy the rewards of your hard work, but achieving true financial stability in your golden years requires careful planning and smart strategies. Maximising retirement income is not just about saving more—it's about making your money work harder, ensuring guaranteed payouts, and building a resilient financial plan that can weather life's uncertainties. \u003C/p>\u003Cp>Here’s how you can secure a comfortable, worry-free retirement.\u003C/p>\u003Ch2>\u003Cstrong>The Importance of Proactive Retirement Income Planning\u003C/strong>\u003C/h2>\u003Cp>Effective retirement income planning is the foundation of financial stability for retirees. By starting early and making informed decisions, you can ensure your savings last throughout your retirement. Proactive planning helps you:\u003C/p>\u003Cul>\u003Cli>Take advantage of compounding growth\u003C/li>\u003Cli>Minimise financial stress\u003C/li>\u003Cli>Prepare for unexpected expenses\u003C/li>\u003Cli>Enjoy greater flexibility and peace of mind\u003C/li>\u003C/ul>\u003Cp>\u003Ca href=\"http://shriramlife.com\">\u003Cspan>Shriram Life Insurance\u003C/span>\u003C/a> plans provide various solutions designed to help you maximise your retirement income and achieve lasting financial security.\u003C/p>\u003Ch2>\u003Cstrong>Building a Strong Retirement Portfolio with Diversified Investments\u003C/strong>\u003C/h2>\u003Cp>One of the most effective ways to maximise your retirement income is through diversified investments. Spreading your savings across different asset classes—such as bonds, mutual funds, and insurance products—reduces risk and increases the potential for steady returns. Low-risk options like the \u003Ca href=\"https://www.shriramlife.com/life-insurance/saral-pension\">\u003Cspan>Shriram Life Saral Pension Plan\u003C/span>\u003C/a> (UIN: 128N092V01)\u003Cspan>\u003Cstrong> \u003C/strong>\u003C/span>provide consistent, lifelong income and act as a stable anchor in your portfolio.\u003C/p>\u003Cp>Some of the key benefits of diversification include\u003C/p>\u003Cul>\u003Cli>Reduces exposure to market volatility\u003C/li>\u003Cli>Balances growth and security\u003C/li>\u003Cli>Ensures multiple income streams\u003C/li>\u003C/ul>\u003Ch2>\u003Cstrong>Leveraging the Power of Annuities for Stable Income\u003C/strong>\u003C/h2>\u003Cp>Annuities are powerful tools for creating guaranteed payouts in retirement. By converting your savings into a regular income stream, annuities ensure you never outlive your money. The \u003Ca href=\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\">\u003Cspan>Shriram Life Immediate Annuity Plus Plan\u003C/span>\u003C/a> (UIN: 128N063V07\u003Cspan>)\u003C/span> is an excellent example, providing multiple payout options and the flexibility to choose how and when you receive your income.\u003C/p>\u003Cp>But, here is the question: Why should you consider annuities? \u003C/p>\u003Cp>Annuities \u003C/p>\u003Cul>\u003Cli>Provide predictable, lifelong income\u003C/li>\u003Cli>Protect against longevity risk\u003C/li>\u003Cli>Provide peace of mind with guaranteed payments\u003C/li>\u003C/ul>\u003Ch2>\u003Cstrong>Planning Early to Benefit from Compounding Growth\u003C/strong>\u003C/h2>\u003Cp>The earlier you start planning, the more you benefit from the power of compounding. Early planning benefits include higher returns, lower required monthly savings, and a larger retirement corpus. The \u003Ca href=\"https://www.shriramlife.com/life-insurance/assured-income-plan\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a> (UIN: 128N053V05)\u003Cspan> \u003C/span>encourages disciplined savings and provides guaranteed benefits, making it easier to build wealth over time. With flexible policy terms of 8, 10, 12, or 15 years and premium payment options ranging from monthly to annual, you can tailor this plan to your financial goals.\u003C/p>\u003Cp>Compounding interest means your returns generate their own returns, accelerating your savings growth year after year.\u003C/p>\u003Ch2>\u003Cstrong>Managing Expenses and Avoiding Financial Pitfalls\u003C/strong>\u003C/h2>\u003Cp>Smart retirement planning isn’t just about growing your income—it’s also about managing retirement expenses and avoiding common financial pitfalls. Create a realistic budget, avoid high-interest debt, and account for inflation to protect your nest egg. \u003Ca href=\"https://www.shriramlife.com/life-insurance/early-cash-plan\">\u003Cspan>The Shriram Life Early Cash Plan\u003C/span>\u003C/a> (UIN: 128N093V03) provides liquidity, allowing you to access funds for emergencies or unexpected costs without derailing your long-term goals.\u003C/p>\u003Cp>Here are some additional tips for managing expenses:\u003C/p>\u003Cul>\u003Cli>Start by creating a monthly budget based on your expected income after retirement. For instance, if you expect to spend around ₹40,000 per month, be sure to factor in rising costs due to inflation, about 5% annually.\u003C/li>\u003Cli>Pay off any high-interest debt before retiring, like credit card balances or personal loans. This reduces financial stress and frees up more of your income for essential needs.\u003C/li>\u003Cli>Keep an emergency fund with at least six months' worth of expenses in a savings account. This gives you a cushion for unexpected costs like medical bills or urgent home repairs.\u003C/li>\u003Cli>Plan ahead for healthcare. Consider increasing your insurance coverage or setting aside funds specifically for medical needs.\u003C/li>\u003C/ul>\u003Cp>To add flexibility, consider a policy like the \u003Ca href=\"https://www.shriramlife.com/life-insurance/early-cash-plan\" target=\"_blank\">Shriram Life Early Cash Plan\u003C/a> (UIN: 128N093V02). It provides periodic payouts, giving you access to funds when needed, without dipping into your long-term savings or disrupting your financial plan.\u003C/p>\u003Ch2>\u003Cstrong>Taking Advantage of Tax-Saving Opportunities\u003C/strong>\u003C/h2>\u003Cp>Tax-saving retirement strategies can significantly enhance your retirement income by reducing the taxes you pay on savings and withdrawals. The \u003Ca href=\"https://www.shriramlife.com/life-insurance/pension-plus\">\u003Cspan>Shriram Life Pension Plus Plan\u003C/span>\u003C/a> (UIN: 128L065V03) provides tax benefits under current laws and allows you to customise your investment strategy for maximum efficiency.\u003C/p>\u003Cp>Here is how tax planning helps you. It\u003C/p>\u003Cul>\u003Cli>Increases your net retirement income\u003C/li>\u003Cli>Allows more of your money to grow\u003C/li>\u003Cli>Provides flexibility in withdrawals and payouts\u003C/li>\u003C/ul>\u003Ch2>\u003Cstrong>Achieving Financial Security in Retirement\u003C/strong>\u003C/h2>\u003Cp>Maximising your retirement income is more than just saving—it involves making strategic choices that ensure financial security in retirement. By focusing on diversified investments, starting early, leveraging annuities, managing expenses, and using tax-saving strategies, you can build a robust plan for your future.\u003C/p>\u003Cp>Shriram Life Insurance’s retirement products provide comprehensive solutions tailored to your needs, helping you enjoy a stable, worry-free retirement.\u003C/p>","category":"/blog/advice"},{"title":"How Do You Choose the Right Retirement Plan for Your Needs?","heading":"How Do You Choose the Right Retirement Plan for Your Needs?","short_description":"\u003Cp>\u003Cspan>The Indian market provides numerous Retirement Plans to help people achieve financial independence\u003Cstrong> \u003C/strong>for their golden years, b\u003C/span>\u003C/p>","tile_image":[{"media_img":{"url":"https://cdn.shriramlife.com/slic-kalam/files/2025-05/how-do-you-choose-the-right-retirement-plan-for-your-needs.webp?VersionId=2CnZZm6jsH7ReYNt4hIRzBhv7VPONIzl","alt":"How Do You Choose the Right Retirement Plan for Your Needs?"},"media_svg":null,"media_svg_alt":"","media_document":null}],"posted_on":"2025-05-19T05:52:08","updated_on":"2025-05-19T05:52:13","read_more_title":"Know More","slug":"/how-do-you-choose-the-right-retirement-plan-for-your-needs","field_bl_tag":"\u003Ca href=\"/blog/guides/recent\" hreflang=\"en\">Recent\u003C/a>, \u003Ca href=\"/blog/guides/retirement\" hreflang=\"en\">Retirement\u003C/a>","description":"\u003Cp>\u003Cspan>The Indian market provides numerous Retirement Plans to help people achieve financial independence\u003Cstrong> \u003C/strong>for their golden years, but not every product is a right match for your portfolio. Some plans are designed to provide a steady income post-retirement, while others are exclusively for wealth accumulation for golden years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You should always choose investment options that help you achieve your desired lifestyle and goals for a secure, worry-free, and comfortable retirement. You may explore Shriram Life Insurance’s retirement solutions if your primary goals revolve around financial security and stability. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog discusses more about \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/retirement-plan\" target=\"_blank\">\u003Cspan>choosing retirement plans\u003C/span>\u003C/a>\u003Cspan> aligned with your needs so you accomplish all your retirement goals. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Define Your Aspirations for Financial Independence\u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Identifying clear aspirations should be your starting step during the retirement planning phase because it will help you choose the right investment plans. Decide whether you want a modest, need-based retirement or one filled with travel and leisure. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Additionally, factor in crucial aspects, such as medical costs, living expenses, inflation-adjusted expenses, emergency funds, etc., to determine the amount you’ll need to live your dream retirement life. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re looking for post-retirement income options to create a stable income flow during retirement, consider investing in \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/assured-income-plan\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N053V05). It provides regular income options and combines the best features of Retirement, Child, and Savings Plans. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Assess Risk Preferences for Smarter Savings \u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Everyone should evaluate their risk tolerance before choosing retirement plans. Those with high-risk tolerance may invest in market-based plans like equities or mutual funds to earn higher returns over time. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>However, people with a low-risk profile desiring financial stability and predictability in retirement should opt for safer options, such as non-linked Life Insurance-backed plans. This approach will help you prevent financial distress during economic downturns, depleting your retirement savings. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/early-cash-plan\">\u003Cspan>Shriram Life Early Cash Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N093V02) is one of the best low-risk plans that preserve your capital investment and provide steady growth through the power of compounding and cash bonus guarantee, so consider exploring it for a secure retirement. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Maximise Benefits with Tax-Saving Retirement Plans\u003C/strong> \u003C/h2>\u003Cp>\u003Cspan>One of the smartest ways to maximise your savings is investing in plans that qualify for tax benefits u/s 80C, 80CCC, 10 (10A), etc.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>For instance, if you include the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/pension-plus\">\u003Cspan>Shriram Life Pension Plus\u003C/span>\u003C/a>\u003Cspan> plan (UIN: 128L065V03) in your retirement portfolio, you can claim the premium payments as standard deductions u/s 80C while filing Income Tax Returns (ITR) to lower your taxable income and tax liability. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Maturity proceeds can be partially or fully tax-exempt u/s 10(10A), subject to certain conditions. We recommend evaluating the tax benefits of pension plans and other options to make strategic choices. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Embrace Flexibility to Meet Changing Needs\u003C/strong> \u003C/h2>\u003Cp>\u003Cspan>Retirement may not always go as planned; hence, always choose investments with flexible features. Rigid policies may cover today’s goals but may not accommodate evolving family needs, healthcare emergencies, or desires to pursue a hobby or travel the world. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re exploring flexible options, you may check the \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/saral-pension\">\u003Cspan>Shriram Life Saral Pension Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N092V01). Besides providing two annuity options, lifelong annuity payment, inbuilt critical cover, it lets policyholders take policy loans to cover unexpected financial needs. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Secure Instant Income After Retirement \u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Since retirement marks the end of a predictable, stable salary income, you must invest in plans that generate substantial income to maintain your lifestyle during the golden years. Look for post-retirement income options, such as annuity plans, that provide immediate financial support. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The\u003Cstrong> \u003C/strong>\u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\">\u003Cspan>Shriram Life Immediate Annuity Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN:128N063V07) is one of the best annuity plans for retirement as it provides immediate annuity plus insurance. You can use it to enjoy regular savings and tax benefits while receiving a steady flow of income for post-retirement stability. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Conclusion\u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Investing in any financial product isn’t enough to achieve financial independence\u003Cstrong> \u003C/strong>and stability during retirement. You must invest in plans that match your risk profile and help you achieve the desired economic goals in a realistic time frame. If you’re overwhelmed with the available options, consider evaluating them using the discussed tips. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>It will help you find the right retirement plan. At Shriram Life Insurance, we provide various plans, including \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/child-plan\" target=\"_blank\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan>, Retirement Plans, \u003C/span>\u003Ca href=\"https://www.shriramlife.com/life-insurance/protection-plan\" target=\"_blank\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> to help people achieve diverse financial goals. You can \u003C/span>\u003Ca href=\"https://www.shriramlife.com/reach-us\">\u003Cspan>contact the Shriram Life Insurance team\u003C/span>\u003C/a>\u003Cspan> to get assistance with choosing the right plan for your needs. \u003C/span>\u003C/p>","category":"/blog/advice"}],"blog_count":[{"count":176,"counts":176}],"nothing":"all","nothing_1":317}],"headers":{"x-powered-by":["Express"],"content-type":["text/html; charset=utf-8"],"content-length":["106715"],"etag":["W/\"1a0db-3AGNjS/X0PhYs9XcdQrmFwWoGYA\""],"vary":["Accept-Encoding"],"date":["Sun, 08 Jun 2025 09:37:13 GMT"],"connection":["keep-alive"],"keep-alive":["timeout=5"]},"status":200,"statusText":"OK","url":"http://127.0.0.1:4000/api/v1/tagged-blogs/317/all","responseType":"json"},"2489646597":{"body":[{"title":"Api - Header","top_nav":[{"title":"Header - Top nav Test","menu_group":[{"title":"Initiate Claim","heading":"Initiate 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Plan\",\"blog_category\":\"/blog/cash-back-term-plan\"}]}]","api/v1/tagged-blogs/317/all":"[{\"category\":[{\"id\":1781,\"name\":\"Super Income Plan\"},{\"id\":1782,\"name\":\"Advice\"},{\"id\":1930,\"name\":\"Child Plan\"},{\"id\":1979,\"name\":\"Early Cash Plan\"},{\"id\":1982,\"name\":\"Assured Income Plan\"},{\"id\":1984,\"name\":\"Golden Premier Saver Plan\"},{\"id\":1985,\"name\":\"Premier Assured Benefit\"},{\"id\":1986,\"name\":\"Cash Back Term Plan\"}],\"blogs\":[{\"title\":\"A Step-by-Step Guide to Choose the Best ULIP Plan in India\",\"heading\":\"A Step-by-Step Guide to Choose the Best ULIP Plan in India\",\"short_description\":\"\u003Cp>\u003Cspan>\u003Cstrong>ULIP\u003C/strong> is among the few financial products designed to give you the dual benefits of protection and growth.\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/a-step-by-step-guide-to-choose-the-best-ulip-plan-in-india.webp?VersionId=XGA2MdRwMrPgHIjf1mp84ZflVN0gc0nR\",\"alt\":\"A Step-by-Step Guide to Choose the Best ULIP Plan in India\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-28T09:46:16\",\"updated_on\":\"2025-05-28T09:46:19\",\"read_more_title\":\"Know More\",\"slug\":\"/a-step-by-step-guide-to-choose-the-best-ulip-plan-in-india\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>\u003Cstrong>ULIP\u003C/strong> is among the few financial products designed to give you the dual benefits of protection and growth. Since not all ULIPs are the same, this blog shares a comprehensive step-wise list to help individuals choose the best ULIP plan for themselves. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Start by understanding \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/blog/advice/things-to-know-about-unit-linked-insurance-plan\\\" target=\\\"_blank\\\">\u003Cspan>what is ULIP\u003C/span>\u003C/a>\u003Cspan>, gradually exploring the steps to choose the right ULIP that matches your financial goals and risk tolerance. \u003C/span>\u003C/p>\u003Ch2>What are ULIPs?\u003C/h2>\u003Cp>\u003Cspan>Unit Linked Insurance Plans (ULIPs) is a hybrid financial tool designed to give you the combined benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>Investment Plans\u003C/span>\u003C/a>\u003Cspan>. They have become an attractive investment option for many because they provide Life Insurance coverage while letting policyholders earn market-linked returns.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Most ULIPs are flexible and allow policyholders to enjoy partial withdrawal after the initial lock-in period. Now that you’ve understood what is ULIP, you may explore the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01). \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Besides providing dual benefits of protection and growth, this ULIP features a customised life cover, multiple fund options, cost-free fund switching, and liquidity benefits to help you achieve your financial goals. \u003C/span>\u003C/p>\u003Ch2>How do ULIPs Work?\u003C/h2>\u003Cp>\u003Cspan>People new to ULIP are generally unsure of how ULIP works, so let us clear it. When you purchase a ULIP and make premium payments, a portion of your premiums is used to provide life coverage while the balance is invested in market securities, such as equity, debt, balanced funds, etc., to earn market-linked returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This investment grows over a period (subject to market performance), and policyholders receive the accumulated fund value on maturity. In case of the policyholder’s untimely death, the insurer pays the amount to the nominees. \u003C/span>\u003C/p>\u003Ch2>Steps to Select the Best ULIP Plan in India\u003C/h2>\u003Ch3>Step 1: Understand ULIPS\u003C/h3>\u003Cp>\u003Cspan>You should never invest in any product you don’t clearly understand, so start by understanding what is ULIP, how ULIP works, and the different types of ULIPs. While there are numerous benefits of ULIP plans, the associated ULIP risks should also be considered before choosing any plan.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>This step is time-consuming, but it can help you understand the ins and outs of ULIPs so you choose the right goal-aligned plan.\u003C/span>\u003C/p>\u003Ch3>Step 2: Assess Your Financial Goals\u003C/h3>\u003Cp>\u003Cspan>Choosing the right ULIP plan depends significantly on what you’re investing for. So, pause and ask yourself whether you’re investing to build a substantial retirement fund, cover your child’s higher education expenses, wealth creation, or another goal. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Then, \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>explore ULIP plans\u003C/span>\u003C/a>\u003Cspan> that help you achieve them. For instance, you may search for ULIPs with primarily equity funds for wealth creation and plans with debt funds to earn stable returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You may consider the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/growth-plus\\\">\u003Cspan>Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L066V03) as it provides multiple fund classes and investment schemes to suit diverse financial goals.\u003C/span>\u003C/p>\u003Ch3>Step 3: Determine Your Risk Profile\u003C/h3>\u003Cp>\u003Cspan>Let your comfort with market volatility guide your ULIP choice. If you prioritise wealth creation and can handle moderate to high market risk, then you may invest mostly in equity funds. Individuals with low-risk tolerance should prefer ULIPs with more debt and balanced funds. \u003C/span>\u003C/p>\u003Ch3>Step 4: Compare Policies\u003C/h3>\u003Cp>\u003Cspan>Not every policy is created equally, so you should evaluate shortlisted options by analysing their distinct \u003Cstrong>ULIP risks\u003C/strong>, features, and benefits.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Compare each option based on fund performance over the last five to ten years, flexibility to switch funds, partial withdrawals, taxability of ULIP, premiums, minimum lock-in period, available fund options, and other factors that matter the most to you. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The best ULIP will always be transparent and align with your financial desires, risk tolerance, and expectations. \u003C/span>\u003C/p>\u003Ch3>Step 5: Check Associated Charges\u003C/h3>\u003Cp>\u003Cspan>ULIPs generally have numerous charges for premium allocation, mortality, fund management, etc. You should choose plans with minimum to no associated charges to maximise your returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>We provide ULIPs like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/fortune-builder\\\">\u003Cspan>Shriram Life Fortune Builder Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L038V03) that provide cost-free, unlimited fund switching to benefit policyholders. You can explore our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01) if you’re looking for plans with zero charges on fund switching, premium redirection, and auto transfer options. \u003C/span>\u003C/p>\u003Ch3>Step 6: Evaluate Tax Benefits\u003C/h3>\u003Cp>\u003Cspan>The best ULIP provide more than protection and growth benefits; they help policyholders enjoy immediate savings through tax benefits. Sections 80C, 10(10D), and 45 determine the taxability of ULIP. Section 80C allows policyholders to deduct premium payments to lower their taxable liability up to ₹1.5 lakh/annum. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Section 10(10D) makes maturity proceeds tax-exempt if applicable rules are met. Your fund transfers within ULIP remain tax-free under section 45. Plan your investments strategically to avail maximum tax benefits of ULIP.\u003C/span>\u003C/p>\u003Ch3>Step 7: Finalise and Purchase\u003C/h3>\u003Cp>\u003Cspan>Once you’ve evaluated the shortlisted ULIPs against all the above factors, finalise the one that aligns with your goals, risk profile, budget, and expectations. \u003C/span>\u003C/p>\u003Ch2>Steps to Buy a ULIP Policy Online\u003C/h2>\u003Cp>\u003Cspan>If you’re ready to buy Shriram Life Insurance \u003Cstrong>ULIP\u003C/strong> plans online, start by visiting the shortlisted policy page and follow the steps below:\u003C/span>\u003C/p>\u003Cul>\u003Cli>\u003Cspan>Fill in the details at the top and click ‘Apply Online.’\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Verify your contact number via OTP to proceed.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Customise the policy by choosing policy value, premium amount, premium frequency, fund choice, etc. \u003C/span>\u003C/li>\u003Cli>\u003Cspan>Review the policy terms and confirm the details.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Make the payment and receive policy confirmation details on your registered contact details.\u003C/span>\u003C/li>\u003C/ul>\u003Ch2>Factors to Evaluate Before Investing in ULIP Policies\u003C/h2>\u003Cp>\u003Cspan>When choosing ULIP policies, always evaluate them based on factors like their flexibility, features, lock-in period, fund options, past performance, premium, associated charges, taxability of ULIP, and other aspects relevant to you. You can consult a certified financial expert for personalised guidance if you’re overwhelmed with the options and cannot make independent decisions. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>Choosing the right ULIP can help you build a financially secure future through market-linked returns while protecting your family members under reliable Life Insurance coverage. If you’re unable to choose the right plan, following the steps discussed above can help. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>At Shriram Life Insurance, you can explore various ULIPs designed to fulfil diverse financial goals. We also provide \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> that complement ULIPs for maximum economic benefit.\u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"ULIP vs Term Insurance: Which Option is Right for You?\",\"heading\":\"ULIP vs Term Insurance: Which Option is Right for You?\",\"short_description\":\"\u003Cp>\u003Cspan>ULIPS and Term Life Insurance\u003Cstrong> \u003C/strong>plans have become popular\u003Cstrong> \u003C/strong>investment options in the Indian market, each desig\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/ulip-vs-term-insurance-which-option-is-right-for-you_0.webp?VersionId=QDgexLgja6WeCU4LqvpR13x55tqR_tM3\",\"alt\":\"ULIP vs Term Insurance: Which Option is Right for You?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-27T10:12:08\",\"updated_on\":\"2025-05-27T10:13:11\",\"read_more_title\":\"Know More\",\"slug\":\"/ulip-vs-term-insurance-which-option-is-right-for-you\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>ULIPS and Term Life Insurance\u003Cstrong> \u003C/strong>plans have become popular\u003Cstrong> \u003C/strong>investment options in the Indian market, each designed to fulfil different financial goals. ULIPs are dual-benefit products that combine investment benefits with life insurance coverage, whereas Term Life Insurance provides pure life cover with no investment component. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>To achieve specific financial goals, you must be clear about ULIPS vs. Term Insurance\u003Cstrong> \u003C/strong>Plans. This blog covers fundamental knowledge about ULIPs and Term Insurance Plans, their differences, and other related topics so you can choose the option that best suits your financial goals and risk tolerance.\u003C/span>\u003C/p>\u003Ch2>Understanding ULIP\u003C/h2>\u003Cp>\u003Cspan>Unit Linked Insurance Plan (ULIP) combines dual benefits of market-linked investments and life insurance into one product. It’s designed for individuals who want to secure their family’s future while growing their wealth over time. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Besides\u003Cstrong> \u003C/strong>investment benefits, their flexibility, partial withdrawals, fund options, tax benefits, etc., are additional standout features that make it an attractive investment to most. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Anyone who wants to enjoy market-linked growth, secure insurance coverage, and flexibility should consider including a Unit Linked Insurance Plan (ULIP), like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan>\u003Cstrong> \u003C/strong>(UIN: 128L096V01) in their portfolio.\u003C/span>\u003Cem>\u003Cspan>\u003Cstrong> \u003C/strong>\u003C/span>\u003C/em>\u003Cspan>Investment Plans like these are ideal for wealth creation and financial security. \u003C/span>\u003C/p>\u003Ch2>Understanding Term Insurance\u003C/h2>\u003Cp>\u003Cspan>Term Life Insurance provides financial protection to your family members in case of an unfortunate event like your untimely death. Unlike ULIPs, Term Insurance Plans don’t provide survival or maturity benefits.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>It is the best insurance plan for anyone whose sole objective is to ensure the family’s financial security even when they’re not around. The most notable features of Term Plans are their comparatively low premiums and high coverage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You may explore our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/smart-protection-plan\\\">\u003Cspan>Shriram Life Smart Protection Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N069V05), to secure your family’s financial future for challenging times. If you conduct a\u003Cstrong> \u003C/strong>premium comparison in the ULIP vs Term Insurance analysis, our Term Insurance will stand out for its incredibly lower premiums and long-term coverage. \u003C/span>\u003C/p>\u003Ch2>ULIP Vs Term Insurance: A Detailed Comparison\u003C/h2>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Point of Differentiation\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Unit Linked Insurance Plan (ULIP)\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Term Life Insurance\u003C/strong>\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Premium Costs\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Higher than Term Insurance because of the investment component\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Lower than ULIPs\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Investment Returns\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Potentially higher returns because of market-linked earnings\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Only death benefits are provided, making the returns less attractive than ULIPs\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Risk Coverage\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Risk coverage is typically lower than Term Insurance\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Higher and fixed risk coverage\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Flexibility \u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Highly flexible, especially regarding partial withdrawals after a pre-determined period\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Limited to no flexibility\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Customisation \u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Option to customise life cover based on requirements\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Basic customisation through optional riders, such as critical illness, accidental death benefit, etc.\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Tax Implications\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium payments can be deducted u/s 80C and maturity proceeds can be tax-exempt if all the rules u/s 10(10D) are fulfilled during the maturity period \u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premiums paid can be deducted u/s 80C and death benefits are tax-free u/s 10(10D)\u003C/span>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp> \u003C/p>\u003Ch2>Factors to Consider While Choosing Between ULIP and Term Insurance\u003C/h2>\u003Ch3>Financial Goals\u003C/h3>\u003Cp>\u003Cspan>Individuals willing to build wealth while staying insured under life coverage should choose a goal-aligned \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>Unit Linked Insurance Plan\u003C/span>\u003C/a>\u003Cspan> (ULIP). However, if your primary objective is to secure your family’s financial future even when you're not around, then Term Life Insurance is a better choice. \u003C/span>\u003C/p>\u003Ch3>Risk Appetite\u003C/h3>\u003Cp>\u003Cspan>ULIPs are market-linked, so their returns fluctuate due to external conditions. Hence, invest in ULIPs if you’re comfortable with market volatility and can bear medium to high risk. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Those desiring risk-free protection should choose Term Life Insurance as the returns remain fixed, unaffected by external factors. You can additionally invest in our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> that complement the Term Insurance for optimal returns. \u003C/span>\u003C/p>\u003Ch3>Investment Horizon\u003C/h3>\u003Cp>\u003Cspan>Since ULIPs are market-linked, you generally have to remain invested longer to earn substantial returns. Many ULIPs feature a specific lock-in period, making it a long-term commitment.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Conversely, Term Insurance can have a comparatively lower investment horizon as the return remains fixed throughout the policy period. \u003C/span>\u003C/p>\u003Ch3>Budget Constraints\u003C/h3>\u003Cp>\u003Cspan>People with lower budgets can choose Term Insurance Plans because they provide high coverage at a fraction of the amount typically required in ULIP plans. ULIPs demand higher budgets as a portion of the premium payment gets invested in market-linked instruments, such as bonds, equities, mutual funds, etc. \u003C/span>\u003C/p>\u003Ch3>Future Financial Needs\u003C/h3>\u003Cp>\u003Cspan>Your financial responsibilities may evolve with time, so always factor in potential expenses that may arise in the future, such as unavoidable property repairs, medical expenses, etc., while choosing between ULIP or Term Insurance. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>ULIPs partial withdrawal and market-linked returns may ease your financial burden, whereas Term Insurance will safeguard your family’s lifestyle against loss of income after your untimely death. \u003C/span>\u003C/p>\u003Ch2>Expert Advice\u003C/h2>\u003Cp>\u003Cspan>The entire ULIP vs Term Insurance debate can be confusing, so consult a certified financial expert for personalised guidance. Most experts recommend not mixing investment and protection unless you understand how each may influence your financial goal status. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Never mistake ULIPs as ‘guaranteed income’ products or ignore their lock-in periods when investing. We encourage individuals to invest early as it may help get slightly lower premiums.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Rohan, a 30-year, salaried individual with a dependent spouse and two children, wanted to secure his family’s financial future with maximum life coverage. Hence, he opted for the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/smart-protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Shriram Life Smart Protection Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N069V05) for security. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>He additionally invested small amounts in our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/golden-jubilee-plan\\\">\u003Cspan>Shriram Life Golden Jubilee Plan\u003C/span>\u003C/a>\u003Cspan> (UIN 128L095V01) to support his wealth creation goals. Such balanced investment helped him achieve multiple goals without overexposing his investments to market volatility and preventing excessive premium burden. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>The whole ‘ULIP vs Term Insurance’ analysis isn’t about which is better but which is right for you. Term Insurance is ideal for creating a financial security net for your family so they can continue living a good life even when you’re not around. ULIPs, on the other hand, are great for providing life coverage while enjoying wealth creation. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>We recommend assessing your needs to make the right choice. At Shriram Life Insurance, we provide both Term Insurance and ULIPs, so you may explore our plans to fulfil your financial goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"Maximising Your ULIP Returns: Tax Benefits Explained\",\"heading\":\"Maximising Your ULIP Returns: Tax Benefits Explained\",\"short_description\":\"\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">A Unit Linked Insurance Plan (ULIP) has become an attractive investment option for many Indians because it prov\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/maximizing-your-ulip-returns-tax-benefits-explained.webp?VersionId=XS0w_GpZZbq4SBzoiQo_As_tCV8BsGIm\",\"alt\":\"Maximising Your ULIP Returns: Tax Benefits Explained\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-26T07:22:36\",\"updated_on\":\"2025-05-26T07:22:41\",\"read_more_title\":\"Know More\",\"slug\":\"/maximising-your-ulip-returns-tax-benefits-explained\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">A Unit Linked Insurance Plan (ULIP) has become an attractive investment option for many Indians because it provides more than life insurance coverage and market-linked returns. We’re talking about the savings earned through\u003Cstrong> \u003C/strong>tax exemptions and deductions. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">This blog details the different tax implications of ULIPs and practical ways to maximise ULIP returns. You can use this information to plan your investments strategically for maximum savings and returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Understanding ULIP\u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Unit Linked Insurance Plan (ULIP) is a hybrid financial product that combines the benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Investment Plans\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Protection Plans\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">. It is designed to provide market-linked returns to policyholders while securing them and their family members under life insurance coverage.\u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Besides providing dual benefits of higher earning potential and stable life coverage, it stands out for its flexibility. For instance, if you have purchased our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> (UIN: 128L096V01), you can enjoy easy access to your funds through partial withdrawals after the first five years.\u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">You also receive free fund switching, auto transfer, and premium redirection to maximise earnings. When you pay policy premiums, a portion goes towards providing life coverage, while the balance is invested in market securities for higher financial growth. Their\u003Cstrong> \u003C/strong>tax savings component also deserves special mention, so let’s explore it in the following section. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Tax Benefits of ULIP \u003C/span>\u003C/h2>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Section 80C\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Premiums paid on ULIPs can be deducted u/s 80C, providing immediate tax savings. However, policyholders can only deduct up to ₹ 1.5 lakh/annum. You can use our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/income-tax-calculator\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">income tax calculator\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> to gain clarity on your savings. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Section 10(10D)\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Section 10(10D) lists\u003Cstrong> \u003C/strong>tax exemption rules that determine whether maturity proceeds will be taxable. According to this section, maturity proceeds won’t be taxable on policies issued on or after 1st February 2021 if the premium paid doesn’t exceed ₹ 2.5 lakh or 10% of the policy value for any policy year. These tax implications can significantly increase your investment returns. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Section 45\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">One of the biggest ULIP tax benefits is that it doesn’t attract taxes on fund switching. Policyholders can use this clause to repeatedly rebalance their portfolios without triggering a taxable event, maximising ULIP returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Maximising Your ULIP Returns\u003C/span>\u003C/h2>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Strategies for Maximising Returns\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">While there are numerous ways to maximise ULIP returns, you should consider using its tax-free switching feature to move between equity, debt, or balanced funds based on market trends or your risk tolerance. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">For example, switching to equity in bullish markets and shifting to debt funds during volatile periods can help you earn stable returns without overexposing your investments to market risks.\u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">You can also plan your ULIP investments strategically to enjoy the maximum\u003Cstrong> \u003C/strong>tax savings. We have covered it in the previous section, so use it in your financial planning to gain a tax advantage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">We also encourage policyholders to track fund performance and make relevant adjustments for growth regularly. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Choosing the Right ULIP Plan\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Not all ULIPs are created equal, so choose a plan that aligns with your financial goals, budget, and risk profile. You may explore the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/growth-plus\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> (UIN: 128L066V03) if you prioritise wealth creation while financially securing your family for challenging times. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">In addition to life coverage and market-linked returns, it provides loyalty benefits, multiple fund classes and investment schemes to help policyholders earn more, free fund switching, etc. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">If you have a low-risk profile, consider adding one of our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Savings Plans\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> or \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Child Plans\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> to your portfolio to complement or balance ULIP investments. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Long-Term Investment Horizon\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">ULIPs are not designed for short-term gains. Most of these plans feature a lock-in period, generally five years, and the market-linked returns make them most effective over 10 or 15 years or higher to generate substantial returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Hence, anyone who plans on maximising ULIP returns should treat it as a long-term investment.\u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Case Study\u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Rohan, a 35-year salaried individual in the 30% tax bracket, invested in the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/golden-jubilee-plan\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Shriram Life Golden Jubilee Plan\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> (UIN 128L095V01). Since his priority was accumulating wealth for a secure retirement and he had a moderate to high-risk tolerance, he chose a 20-year policy tenure and paid ₹ 75,000 as a yearly premium. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">With additional investments including ₹10,000/year towards the Public Provident Fund (PPF), ₹ 25,000 for a National Savings Certificate, and ₹ 18,000 for Sukanya Samriddhi Yojana, he utilised full\u003Cstrong> \u003C/strong>tax benefits u/s 80C. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">It helped him save approximately ₹ 22,500 (75,000*30%) on ULIP premium payments alone, increasing his overall savings. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Common Mistakes to Avoid \u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Anyone purchasing ULIPs post 1st February 2021 should remember that tax exemptions u/s 10(10D) are only valid if the premium payments don’t exceed ₹2.5 lakh or 10% of the policy value in any year, so invest accordingly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">We encourage individuals to treat ULIPs as long-term investments and utilise the unlimited free fund-switching option and available tax implications for maximising ULIP returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Expert Recommendations\u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Whether you’re new to investing or a seasoned investor, we encourage everyone to keep their risk tolerance and financial goals at the centre of every investment decision. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">You should also focus on investing early and staying invested longer to enjoy greater returns through the power of compounding. Frequent reviews and rebalancing are recommended for achieving stable financial growth and substantial investment returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Conclusion\u003C/span>\u003C/h2>\u003Cp>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Unit Linked Insurance Plan\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> (ULIP) isn’t a regular financial product, but a strategic tool designed to provide multiple benefits in one product. Besides flexibility, life insurance coverage, and market-linked growth, it also provides substantial tax savings when utilised correctly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">You can use the information shared above to maximising ULIP returns and ULIP tax benefits. If you’re looking for good ULIPs, Shriram Life Insurance provides numerous ULIPs designed to achieve diverse financial goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"What are the Essential Tips to Secure Your Retirement?\",\"heading\":\"What are the Essential Tips to Secure Your Retirement?\",\"short_description\":\"\u003Cp>\u003Cspan>Living a comfortable, worry-free, and secure retirement life requires thoughtful planning and investments during active work years.\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/what-are-the-essential-tips-to-secure-your-retirement.webp?VersionId=RsWKbwlRgrhbiXDU_kjokuGNnRBQBt5P\",\"alt\":\"What are the Essential Tips to Secure Your Retirement?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-23T06:53:32\",\"updated_on\":\"2025-05-23T06:53:38\",\"read_more_title\":\"Know More\",\"slug\":\"/what-are-the-essential-tips-to-secure-your-retirement\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>, \u003Ca href=\\\"/blog/guides/retirement\\\" hreflang=\\\"en\\\">Retirement\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>Living a comfortable, worry-free, and secure retirement life requires thoughtful planning and investments during active work years. This blog covers practical retirement planning tips to help individuals secure their retirement with minimal risk. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Making safe investments is one of the best ways to secure one’s retirement, as it acts as a financial cushion during short and long-term economic uncertainties. While the Indian market provides numerous investment options to fulfil various retirement goals, insurance plans emerge as the most reliable tool for financial stability and security. \u003C/span>\u003C/p>\u003Ch2>Why Retirement Planning Should Be Your Top Priority?\u003C/h2>\u003Cp>\u003Cspan>While retirement marks the beginning of a new life chapter, it also marks the end of your fixed salary income. Anyone who wants to continue leading a financially secure life in their golden years must prioritise \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/retirement-plan\\\" target=\\\"_blank\\\">\u003Cspan>financial planning for retirement\u003C/span>\u003C/a>\u003Cspan> during their early work years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Early retirement planning and goal-aligned strategic investments can help you build multiple post-retirement income streams. Besides replacing your salary income, this predictable income will ensure you don’t outlive your savings. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The right investments will outgrow inflation and sustain unpredictable market conditions, securing your financial future. \u003C/span>\u003C/p>\u003Ch2>Set Clear and Achievable Retirement Goals\u003C/h2>\u003Cp>\u003Cspan>Everyone wants adequate funds to live a comfortable retirement life, but how much is ‘adequate’ for you? Since people have varying preferences, lifestyles, desires, and obligations, they should set clear and achievable retirement goals that support their dream retirement life.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you want to lead a luxurious retired life with the financial freedom to travel to dream destinations, pursue multiple hobbies, take care of all family responsibilities, etc., you must set goals that help fulfil these desires. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This approach brings clarity, helping you choose the right \u003Cstrong>i\u003C/strong>nvestment strategies for retirement. Setting clear goals sets a strong foundation for long-term financial stability and planning\u003C/span>\u003Cem>\u003Cspan>\u003Cstrong>,\u003C/strong>\u003C/span>\u003C/em>\u003Cspan> so don’t ignore this step.\u003C/span>\u003C/p>\u003Ch2>Boost Your Savings with Smart Strategies\u003C/h2>\u003Cp>\u003Cspan>Controlling your expenses and making higher contributions to relevant investment plans is a smart way to boost retirement savings. You can start investing early to let your capital grow with the compounding effect. Additional savings can be enjoyed by claiming tax benefits on relevant investments. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While there are numerous tax-saving options, such as the Public Provident Fund (PPF), Equity-Linked Saving Scheme (ELSS), National Pension System (NPS), etc., you can invest in \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan\\\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N053V05) as it combines standout features of Savings, Child, and Retirement Plans, besides providing tax benefits u/s 80C. \u003C/span>\u003C/p>\u003Ch2>Diversify Investments to Reduce Risks\u003C/h2>\u003Cp>\u003Cspan>Diversifying your investments is one of the most essential retirement tips you must follow. It will help you optimise your portfolio’s performance while reducing risks tied to market volatility. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>For instance, if you invest in market-linked mutual funds or equity markets to tap into higher return potential, you must offset the risk by including non-linked \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan>, such as the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/early-cash-plan\\\">\u003Cspan>Shriram Life Early Cash Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N093V03) in your portfolio.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Plans like these provide a capital guarantee while growing your retirement savings through the power of compounding. You can \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan-calculator\\\">\u003Cspan>calculate your Life Insurance premium returns\u003C/span>\u003C/a>\u003Cspan> for better planning. \u003C/span>\u003C/p>\u003Ch2>Avoid Common Retirement Planning Mistakes\u003C/h2>\u003Cp>\u003Cspan>Being aware of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/blog/advice/7-retirement-mistakes-experts-dont-want-you-to-know\\\" target=\\\"_blank\\\">\u003Cspan>retirement mistakes to avoid \u003C/span>\u003C/a>\u003Cspan>can help you with efficient financial planning for retirement. Many people make common mistakes, such as underestimating their future expenses, starting saving late, not reviewing their investments, etc. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>When you create a contingency fund to accommodate unexpected emergencies, start early retirement planning, and factor in expenses that may increase your cost of living, you’re more likely to build a large enough retirement fund for a comfortable and financially secure retirement life. \u003C/span>\u003C/p>\u003Ch2>Adapting Plans as Financial Needs Change\u003C/h2>\u003Cp>\u003Cspan>Financial needs keep evolving with time, so you should always review your retirement plans to realign them with your current financial goals and requirements. While reviewing your plans every six months is ideal, those busy with day-to-day life can review them annually. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>However, reviews must be non-negotiable during important life events, such as career transitions, additional responsibilities, shifts in health conditions, etc. We encourage adopting flexibility to achieve new retirement goals effortlessly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If your new conditions require additional income sources within the coming months, consider including \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\\\">\u003Cspan>Shriram Life Immediate Annuity Plus\u003C/span>\u003C/a>\u003Cspan> (UIN:128N063V07) in your portfolio. This plan provides immediate annuity plus insurance so you can support your daily lifestyle expenses while enjoying life coverage. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>Thoughtfully planned and goal-aligned investment choices can help everyone achieve a secure retirement. If you’re in the early planning stages, consider implementing the retirement planning tips discussed in this blog and use reliable retirement calculators to simplify the process. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You can invest in the various Retirement and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> provided by Shriram Life Insurance, as every plan is designed to fulfil diverse retirement goals. We also provide insurance plans with combined Retirement, Savings, and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> benefits to help people accomplish multiple financial goals simultaneously. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>So, explore our plans and include relevant ones in your portfolio to get closer to your retirement goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"Why ULIPs Might Be the Best for Your Financial Planning: A Complete Guide\",\"heading\":\"Why ULIPs Might Be the Best for Your Financial Planning: A Complete Guide\",\"short_description\":\"\u003Cp>\u003Cspan>People generally have different financial goals, but desires like wealth creation to support retirement years and securing family’s financial\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/why-ulips-might-be-the-best-for-your-financial-planning.webp?VersionId=9JBy.RERK8kG3x.JVceBJFRb_Nt387nk\",\"alt\":\"Why ULIPs Might Be the Best for Your Financial Planning\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-22T07:16:14\",\"updated_on\":\"2025-05-22T07:16:18\",\"read_more_title\":\"Know More\",\"slug\":\"/why-ulips-might-be-the-best-for-your-financial-planning-a-complete-guide\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>People generally have different financial goals, but desires like wealth creation to support retirement years and securing family’s financial future for unfortunate times remain common. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>ULIPs are gaining massive popularity in the Indian financial market as they provide dual benefits of protection and growth. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog will help you understand why ULIPs are the best for your financial planning so you can make informed investment decisions. \u003C/span>\u003C/p>\u003Ch2>What is ULIP (Unit Linked Insurance Plan)?\u003C/h2>\u003Cp>\u003Cspan>ULIP is a specialised financial product that combines the dual benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>Investment Plans\u003C/span>\u003C/a>\u003Cspan>. These plans are ideal for most individuals as they provide Life Insurance coverage and market-linked returns, supporting two financial goals simultaneously.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re looking for the best ULIP plans, consider exploring the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01). \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Besides life coverage and the potential for higher returns, it provides liquidity through partial withdrawals after the lock-in period, cost-free fund switching, customised life cover, and several benefits. \u003C/span>\u003C/p>\u003Ch2>How ULIP Works?\u003C/h2>\u003Cp>\u003Cspan>While the previous section cleared \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/blog/advice/things-to-know-about-unit-linked-insurance-plan\\\" target=\\\"_blank\\\">\u003Cspan>what is ULIP\u003C/span>\u003C/a>\u003Cspan>, let’s now explore\u003Cstrong> \u003C/strong>how ULIP works. Your ULIP premium payments are divided into two parts. One portion is used to secure Life Insurance coverage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The balance is invested in market securities like equities, debts, or balanced funds of the policyholder’s choice to earn higher returns.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Upon maturity, the accumulated fund value is disbursed to the policyholder. If the policyholder dies before the policy maturity, the amount is given to the nominees. \u003C/span>\u003C/p>\u003Ch2>How to Maximise Returns from a ULIP?\u003C/h2>\u003Cp>\u003Cspan>There are numerous ways to maximise your ULIP returns, but you may consider exploring the following:\u003C/span>\u003C/p>\u003Cul>\u003Cli>\u003Cspan>Remain invested for a longer period to earn higher returns. The same technique can maximise returns from \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> or other investments.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Allocate funds based on your desired investment horizon, risk profile, and financial goals.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Invest in ULIPs like\u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/growth-plus\\\">\u003Cspan> Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L066V03) that provide cost-free fund switching.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Minimise your partial withdrawals so the amount remains invested for an extended period and earns higher returns. \u003C/span>\u003C/li>\u003C/ul>\u003Ch2>Who Should Buy a ULIP Plan?\u003C/h2>\u003Cp>\u003Cspan>If you’re wondering isULIP a good investment for you, we’d say it’s ideal for anyone who wants to obtain dual benefits of financial growth and protection from a single financial product. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You can also choose ULIPs to complement your traditional investments, such as \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/retirement-plan\\\" target=\\\"_blank\\\">\u003Cspan>insurance for retirement\u003C/span>\u003C/a>\u003Cspan>, \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan>, mutual funds, etc., to accomplish multiple financial goals. \u003C/span>\u003C/p>\u003Ch2>How is the ULIP Plan Structured?\u003C/h2>\u003Cp>\u003Cspan>ULIP plans act as an insurance and investment product through a well-defined, straightforward structure. A portion of the premium payment is used to provide Life Insurance coverage and the balance is invested in market-linked funds of your choice.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>The Life Insurance component accumulates over a period, whereas the chosen funds earn returns according to the market conditions. \u003C/span>\u003C/p>\u003Ch2>Types of ULIPs\u003C/h2>\u003Ch3>Equity-based ULIPs\u003C/h3>\u003Cp>\u003Cspan>These plans invest more in equity and equity-related securities, such as stocks. While they carry higher risk than debt and balanced funds, their potential to earn greater returns is also high. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>It is one of the best ULIP plans for people with high-risk profiles who prioritise wealth creation and life coverage. \u003C/span>\u003C/p>\u003Ch3>Debt-based ULIPs\u003C/h3>\u003Cp>\u003Cspan>Debt-based ULIPs are a more stable investment option for people with low risk tolerance. In such plans, fund allocation is primarily toward debt instruments such as corporate debt, government bonds, and other fixed-interest instruments. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you prefer capital preservation and stable growth, you may proceed with debt-based ULIPs. \u003C/span>\u003C/p>\u003Ch3>Balanced ULIPs\u003C/h3>\u003Cp>\u003Cspan>Also known as hybrid ULIPs, these plans generally invest in equity and debt instruments to balance risk and growth. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The equity-debt ratio can vary depending on the fund’s objective, providing a diversified investment approach. Investors with a moderate risk profile should explore balanced ULIPs.\u003C/span>\u003C/p>\u003Ch2>Benefits of ULIPs\u003C/h2>\u003Ch3>Dual Benefit of Insurance and Investment\u003C/h3>\u003Cp>\u003Cspan>One of the biggest benefits of ULIP is its dual benefits of wealth creation and Life Insurance coverage, making it a comprehensive investment tool. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You may invest in ULIPs like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/golden-jubilee-plan\\\">\u003Cspan>Shriram Life Golden Jubilee Plan\u003C/span>\u003C/a>\u003Cspan> (UIN 128L095V01) as it builds financial security for your family while letting you earn market-linked returns from equity, debt, and balance funds. \u003C/span>\u003C/p>\u003Ch3>Tax Benefits\u003C/h3>\u003Cp>\u003Cspan>Anyone wondering is ULIP tax-free should check ULIP tax implications regulated under sections 80C, 10(10D), and 45. You can deduct ULIP premium payments u/s 80C and enjoy tax exemption u/s 10(10D) and 45 if all relevant guidelines are met.\u003C/span>\u003C/p>\u003Ch3>Flexibility\u003C/h3>\u003Cp>\u003Cspan>\u003Cstrong>ULIP\u003C/strong> provides extreme flexibility in the form of partial withdrawal after the lock-in period, unlimited fund-switching throughout the policy period, top-up options, etc., to support your evolving financial needs and goals. \u003C/span>\u003C/p>\u003Ch2>What is the Lock-in Period of a ULIP?\u003C/h2>\u003Cp>\u003Cspan>There is a 5-year lock-in period for most ULIPs. However, it can be higher for some policies, so check it with the respective insurer. This lock-in period encourages disciplined investing and allows the fund value to grow steadily with the power of compounding. \u003C/span>\u003C/p>\u003Ch2>ULIP vs Other Investment Options\u003C/h2>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Basis of Differentiation\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>ULIP\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Term Insurance\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Mutual Funds\u003C/strong>\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Policy Purpose\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Investment and protection\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Pure Life Insurance\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Pure investment\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Returns\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Market-linked returns from chosen funds\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>No returns (only risk coverage)\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Market-linked returns\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Tax Benefits\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium deduction u/s 80C and tax exemption on maturity proceeds (if applicable) u/s 10(10D) and 45\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium deduction u/s 80C and tax-free death proceeds\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium deduction u/s 80C for only Equity-Linked Saving Scheme (ELSS)\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Lock-in Period\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>5 years\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>No lock-in period\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>3-year lock-in for ELSS, none for others\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Flexibility to switch funds\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Available\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Not Applicable\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Partial or full switching is available\u003C/span>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp> \u003C/p>\u003Ch2>Features of ULIP Plans\u003C/h2>\u003Ch3>Dual Benefit Structure\u003C/h3>\u003Cp>\u003Cspan>All the\u003Cstrong> \u003C/strong>best ULIP plans feature the dual benefits of Life Insurance coverage for financial security and the potential to earn higher market-linked returns for wealth creation. \u003C/span>\u003C/p>\u003Ch3>Tax Benefits\u003C/h3>\u003Cp>\u003Cspan>Tax deduction and tax exemption benefits are available under Sections 80C, 10(10D), and 45. While premium payments can be deducted to lower taxable liability, tax exemption (if available) can increase your overall ULIP returns.\u003C/span>\u003C/p>\u003Ch3>Choice of Funds\u003C/h3>\u003Cp>\u003Cspan>You can choose your desired funds while buying the policy or change it numerous times throughout the policy duration to meet your evolving financial needs and risk profile.\u003C/span>\u003C/p>\u003Ch3>Partial Withdrawal\u003C/h3>\u003Cp>\u003Cspan>Partial withdrawal is available after the initial lock-in period of 5 years. You can use this feature to cover any unexpected financial emergency. \u003C/span>\u003C/p>\u003Ch3>Transparency\u003C/h3>\u003Cp>\u003Cspan>The transparent policy structure and charges make ULIPs one of the most desired investment options for most investors. \u003C/span>\u003C/p>\u003Ch2>Fund Options Under ULIPs\u003C/h2>\u003Cp>\u003Cspan>ULIP features numerous fund options, such as equity, debt, balanced, and more. You must check the available fund options before investing, as not every ULIP has the same fund choices. \u003C/span>\u003C/p>\u003Ch2>What are ULIP Charges?\u003C/h2>\u003Cp>\u003Cspan>Since ULIP has an investment and insurance component, insurers levy various charges to cover the management expenses. While transparent, they may lower your ULIP returns slightly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Premium allocation charges, fund management charges, mortality charges, surrender charges, and policy administration charges are a few ULIP charges you may encounter. You must choose ULIPs with minimum charges to maximise returns. \u003C/span>\u003C/p>\u003Ch2>Practical Tips for ULIP Investors\u003C/h2>\u003Cp>\u003Cspan>If you’re new to ULIP investments, consider implementing the following tips for maximising returns:\u003C/span>\u003C/p>\u003Cul>\u003Cli>\u003Cspan>Stay invested for a longer duration to earn substantial returns\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Choose fund allocation based on your risk profile\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Utilise free fund switches strategically depending on the prevailing market conditions\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Avoid premature surrender or excessive partial withdrawals\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Monitor fund performance frequently and make relevant changes whenever needed\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Consult a certified financial expert for personalised guidance\u003C/span>\u003C/li>\u003C/ul>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>ULIP is a smart investment choice for modern investors as it fulfils two financial goals at once – securing the family’s financial future through Life Insurance coverage and wealth creation through market-linked returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re ready to strengthen your and your family’s financial future, you may consider adding the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>best ULIP plans\u003C/span>\u003C/a>\u003Cspan> to your portfolio. Start by exploring ULIPs at Shriram Life Insurance, as each plan is uniquely designed to fulfil diverse financial goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"Is Your ULIP Strategy Outdated? Discover the New Trends\",\"heading\":\"Is Your ULIP Strategy Outdated? Discover the New Trends\",\"short_description\":\"\u003Cp>\u003Cspan>ULIP plans are a smart choice for individuals looking to combine the dual benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insura</body></html>\\\">\u003C/a>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/is-your-ulip-strategy-outdated-discover-the-new-trends.webp?VersionId=3JcpUcbDrrj2BNlc7A84Wdz6T_iEGkl9\",\"alt\":\"Is Your ULIP Strategy Outdated? Discover the New Trends\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-22T06:33:03\",\"updated_on\":\"2025-05-22T06:32:05\",\"read_more_title\":\"Know More\",\"slug\":\"/is-your-ulip-strategy-outdated-discover-the-new-trends\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>ULIP plans are a smart choice for individuals looking to combine the dual benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> and Investment Plans in one financial product. While these plans feature numerous benefits, the changing regulations, tax implications, and market offering may make your traditional ULIP investment strategy obsolete.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog shares the latest ULIP trends and investment strategies so you don’t miss opportunities to maximise returns. \u003C/span>\u003C/p>\u003Ch2>Introduction to ULIPs \u003C/h2>\u003Cp>\u003Cspan>Unit Linked Insurance Plans (ULIPs) like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01) is a hybrid financial product that provides life coverage to policyholders and their family members while letting them enjoy market-linked returns for wealth creation. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>A portion of the premium paid on ULIP plans is used to secure Life Insurance coverage, while the balance is spent on market securities, such as debt funds, equities, balanced funds, etc., of the policyholder’s choice. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>When ULIP was first introduced in the Indian market, it received criticism because of the associated charges, unclear policy structure, and high commissions paid to distributors. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>However, after IRDA’s intervention and reforms in 2010, limits were imposed on charges and ULIPs were made more transparent for investor protection.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Since then, ULIPs have evolved into investor-friendly financial tools that facilitate wealth creation and financial safety for policyholders’ families. \u003C/span>\u003C/p>\u003Ch2>Latest Trends in ULIP Investment\u003C/h2>\u003Ch3>Return of Mortality Charges \u003C/h3>\u003Cp>\u003Cspan>Mortality charges refer to the fees deducted by insurers to cover the risk of providing death benefits (sum assured) to nominees if the policyholder dies during the policy term. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Traditionally, the mortality charges on most ULIP plans were non-refundable. However, many insurers now provide a return of mortality charges. They add the deducted charges to the fund value upon maturity, increasing the overall returns.\u003C/span>\u003C/p>\u003Ch3>Tax on Capital Gains\u003C/h3>\u003Cp>\u003Cspan>Previously, high-premium ULIPs enjoyed tax exemption u/s 10(10D) but the revised tax implications made maturity proceeds taxable if their premium payment exceeded ₹ 2.5 lakh in any year during the policy duration. This rule applies to ULIPs purchased after 1st February 2021.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>The 2025 budget also released a new rule wherein ULIPs whose annual premium exceeds 10% of the policy value will attract long-term capital gains (LTCG) tax on maturity. Hence, anyone planning to invest in any types of ULIP plans should consider choosing a lower premium amount for maximum tax benefits. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You can also complement your ULIP investments with our risk-free \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> or \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> to accomplish multiple financial goals faster. \u003C/span>\u003C/p>\u003Ch3>Preference for Life-Stage ULIPs\u003C/h3>\u003Cp>\u003Cspan>Of all the different types of ULIP plans, many investors now prefer life-stage ULIPs because of their dynamic asset allocation strategy. They adjust the investment mix between equity and debt based on the policyholder’s age and risk profile. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>For example, these plans may initially invest in a higher proportion of equity funds and fewer debt funds for young investors. As they age, life-stage ULIPs may gradually transfer a majority of investment to debt funds and fewer amount to equity funds to preserve your accumulated amount.\u003C/span>\u003C/p>\u003Ch3>Latest Strategies to Invest in ULIPs\u003Cspan> \u003C/span>\u003C/h3>\u003Cp>\u003Cspan>Anyone investing in ULIP plans should remain informed on the latest tax implications, policy structure, features, etc., to choose the right plan. Use the available top-up options to invest additional money to boost returns during progressive market conditions and transfer funds to debt instruments during volatile markets. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Everyone should continue monitoring and reviewing fund performance to make relevant fund switches. Consider consulting a certified financial expert for personalised guidance if you’re overwhelmed with the process and cannot make independent decisions. \u003C/span>\u003C/p>\u003Ch2>Types of ULIP Plans\u003C/h2>\u003Ch3>Single premium ULIPs\u003C/h3>\u003Cp>\u003Cspan>As the name suggests, these are ULIPs where policyholders must pay the entire premium upfront in a single payment. While they provide the same benefits as other traditional ULIPs, they stand out for eliminating the need to make future premium payments. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>It is beneficial for people who don’t have enough time and memory muscle to make multiple, timely payments. You may explore our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/fortune-builder\\\">\u003Cspan>Shriram Life Fortune Builder Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L038V03) as this single premium ULIP provides impressive flexibility, cost-free fund switches, tax benefits, and numerous other benefits. \u003C/span>\u003C/p>\u003Ch3>Regular premium ULIPs \u003C/h3>\u003Cp>\u003Cspan>They are traditional ULIPs where policyholders pay a predetermined premium at regular intervals, such as monthly, quarterly, or yearly. These plans are generally preferred by salaried employees who can pay small premium amounts consistently every month. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re looking for a good regular premium ULIP, consider exploring the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/growth-plus\\\">\u003Cspan>Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L066V03). Besides providing secure life coverage to your loved ones and facilitating wealth creation, it provides flexibility, cost-free fund switching and redirection of premium, loyalty benefits, riders, and more. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>ULIP plans are excellent financial tools for achieving the dual goals of wealth creation and strengthening the family’s financial future when you’re not around. If you want to maximise your ULIP returns, ensure you keep adjusting your investment strategy according to the changing trends. You can find the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>best ULIP plans\u003C/span>\u003C/a>\u003Cspan> at Shriram Life Insurance, designed to fulfil diverse financial goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"How Can Retirement Plans Ensure Financial Stability in Your Golden Years?\",\"heading\":\"How Can Retirement Plans Ensure Financial Stability in Your Golden Years?\",\"short_description\":\"\u003Cp>\u003Cspan>Everyone wants a secure and pleasant retirement where they can pursue their hobbies, spend quality time with their loved ones, travel whereve\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/how-can-retirement-plans-ensure-financial-stability-in-your-golden-years.webp?VersionId=VpYvs4Y6ARyeYPfofP2MFbWPc3GEPkDc\",\"alt\":\"How Can Retirement Plans Ensure Financial Stability in Your Golden Years?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-20T10:24:11\",\"updated_on\":\"2025-05-20T10:24:16\",\"read_more_title\":\"Know More\",\"slug\":\"/how-can-retirement-plans-ensure-financial-stability-in-your-golden-years\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/retirement\\\" hreflang=\\\"en\\\">Retirement\u003C/a>, \u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>Everyone wants a secure and pleasant retirement where they can pursue their hobbies, spend quality time with their loved ones, travel wherever they desire, etc. However, few realise that these retirement goals can only be achieved through financial stability in their golden years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog discusses how people can achieve financial stability through Retirement Plans for an economically secure post-retirement life. While there is no ‘one’ way to build a financially secure future, a mix of disciplined savings, smart investing, and the right insurance choices can create a future where all your needs are met and your financial independence remains intact. \u003C/span>\u003C/p>\u003Ch2>Why is Financial Stability Crucial for Retirement?\u003C/h2>\u003Cp>\u003Cspan>Whether you want a simple and laid-back lifestyle in retirement or one filled with luxury, you will need strong financial stability to live the desired post-retirement life. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Investing in the right \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan>, market-linked plans, \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/retirement-plan\\\" target=\\\"_blank\\\">\u003Cspan>insurance for retirement\u003C/span>\u003C/a>\u003Cspan>, etc., can help you build multiple post-retirement income sources to support your preferred lifestyle. This income will strengthen your financial stability, ensuring you have substantial funds to tackle inflation, rising healthcare costs, etc. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>To establish lifetime financial security, consider including the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\\\">\u003Cspan>Shriram Life Immediate Annuity Plus\u003C/span>\u003C/a>\u003Cspan> (UIN:128N063V07) in your investment portfolio. It enables you to take an annuity for life, so you don’t have to worry about outliving your savings. \u003C/span>\u003C/p>\u003Ch2>The Role of a Structured Retirement Plan\u003C/h2>\u003Cp>\u003Cspan>A structured retirement plan is a thoughtfully designed financial tool that helps people accumulate funds and create post-retirement income for their golden years. It’s one of the best ways to build a financial safety net that always protects you against unexpected expenses, preserving your financial independence for a worry-free life. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While working employees can rely on employer-sponsored plans, such as the Employees’ Provident Fund (EPF), National Pension System (NPS), etc., self-employed individuals must explore personal pension plans, annuities, and other goal-aligned options to fulfil their retirement goals. You should select Retirement or\u003C/span>\u003Cem>\u003Cspan>\u003Cstrong> \u003C/strong>\u003C/span>\u003C/em>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>Investment Plans\u003C/span>\u003C/a>\u003Cspan> that match your goals and risk tolerance to maximise returns. \u003C/span>\u003C/p>\u003Ch2>How to Choose the Right Retirement Plan\u003C/h2>\u003Cp>\u003Cspan>Start by assessing your financial goals, risk tolerance, current savings, lifestyle expectations, and future needs. Then, select a plan that matches these aspects. If you’re looking to create a balanced investment portfolio to secure your retirement, invest in a mix of government-backed schemes for security and private insurance plans for steady growth and insurance coverage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Since life is unexpected, choose retirement plans that provide liquidity and flexibility to cover emergencies. Consider the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/pension-plus\\\">\u003Cspan>Shriram Life Pension Plus\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L065V03), which provides partial withdrawals after the first five years to cover financial needs. \u003C/span>\u003C/p>\u003Ch2>Invest Smartly for a Stable Future\u003C/h2>\u003Cp>\u003Cspan>Smart investing decisions can help you accomplish your\u003Cstrong> \u003C/strong>retirement goals faster. One of the best investment and savings strategies for retirement is starting early, as it provides more time for your investment to grow through compounding interest. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>People with low-risk tolerance should invest in non-linked insurance plans and government bonds for steady returns, while those with medium to high-risk profiles can explore market-linked options for greater return potential. You can also explore tax-saving options to lower taxable income and liability, boosting retirement savings.\u003C/span>\u003C/p>\u003Ch2>Avoid Pitfalls That Can Undermine Financial Stability \u003C/h2>\u003Cp>\u003Cspan>Some underestimate the time and discipline it takes to build a substantial retirement fund. Ensure you don’t make this mistake because the later you start your retirement planning, the more aggressive your savings must be. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You should also factor in inflation while deciding the retirement fund you want to build, as it will help you achieve inflation-beating returns for an economically secure future. Another common mistake is assuming their pension income alone can cover all their retirement expenses. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While pension can become a reliable post-retirement income source, it shouldn’t become the ‘only’ source. Consider including plans like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan\\\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N053V05) in your investment portfolio because it provides a regular income option to assist policyholders with their monthly expenses. \u003C/span>\u003C/p>\u003Ch2>Secure Your Retirement with Insurance\u003C/h2>\u003Cp>\u003Cspan>Anyone who wants a financially secure retirement should prioritise non-linked insurance products for their low-risk and steady growth benefits. Since their returns remain unaffected by market volatility or other external factors, they add financial predictability and stability to your golden years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While numerous insurance options exist, you may explore term plans to generate income-replacing returns. Health insurance plans should also be prioritised as they can tackle the rising healthcare costs. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Annuity plans must become a core part of your retirement\u003Cstrong> \u003C/strong>investment portfolio to build guaranteed, lifelong post-retirement income streams. If you’re overwhelmed by the options, take personalised guidance from a certified financial expert. \u003C/span>\u003C/p>\u003Ch2>Conclusion \u003C/h2>\u003Cp>\u003Cspan>Achieving financial stability during retirement requires careful retirement planning, disciplined savings, and smart investment choices. These steps collectively create a financial safety net that ensures peace of mind, independence, and the freedom to live retirement years on your own terms. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>At Shriram Life Insurance, we provide various retirement plans designed to fulfil diverse retirement goals. You can \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/reach-us\\\">\u003Cspan>contact the Shriram Life Insurance team\u003C/span>\u003C/a>\u003Cspan> for assistance in choosing the right plan. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"How Can You Maximize Your Retirement Income Effectively?\",\"heading\":\"How Can You Maximize Your Retirement Income Effectively?\",\"short_description\":\"\u003Cp>Retirement is a time to enjoy the rewards of your hard work, but achieving true financial stability in your golden years requires careful planning \u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/how-can-you-maximize-your-retirement-income-effectively.webp?VersionId=d1Ih8si0ZYVPzpqKijK9TEA7eO4HVm.p\",\"alt\":\"How Can You Maximise Your Retirement Income Effectively?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-20T06:28:15\",\"updated_on\":\"2025-05-20T06:28:20\",\"read_more_title\":\"Know More\",\"slug\":\"/how-can-you-maximise-your-retirement-income-effectively\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/retirement\\\" hreflang=\\\"en\\\">Retirement\u003C/a>, \u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>Retirement is a time to enjoy the rewards of your hard work, but achieving true financial stability in your golden years requires careful planning and smart strategies. Maximising retirement income is not just about saving more—it's about making your money work harder, ensuring guaranteed payouts, and building a resilient financial plan that can weather life's uncertainties. \u003C/p>\u003Cp>Here’s how you can secure a comfortable, worry-free retirement.\u003C/p>\u003Ch2>\u003Cstrong>The Importance of Proactive Retirement Income Planning\u003C/strong>\u003C/h2>\u003Cp>Effective retirement income planning is the foundation of financial stability for retirees. By starting early and making informed decisions, you can ensure your savings last throughout your retirement. Proactive planning helps you:\u003C/p>\u003Cul>\u003Cli>Take advantage of compounding growth\u003C/li>\u003Cli>Minimise financial stress\u003C/li>\u003Cli>Prepare for unexpected expenses\u003C/li>\u003Cli>Enjoy greater flexibility and peace of mind\u003C/li>\u003C/ul>\u003Cp>\u003Ca href=\\\"http://shriramlife.com\\\">\u003Cspan>Shriram Life Insurance\u003C/span>\u003C/a> plans provide various solutions designed to help you maximise your retirement income and achieve lasting financial security.\u003C/p>\u003Ch2>\u003Cstrong>Building a Strong Retirement Portfolio with Diversified Investments\u003C/strong>\u003C/h2>\u003Cp>One of the most effective ways to maximise your retirement income is through diversified investments. Spreading your savings across different asset classes—such as bonds, mutual funds, and insurance products—reduces risk and increases the potential for steady returns. Low-risk options like the \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/saral-pension\\\">\u003Cspan>Shriram Life Saral Pension Plan\u003C/span>\u003C/a> (UIN: 128N092V01)\u003Cspan>\u003Cstrong> \u003C/strong>\u003C/span>provide consistent, lifelong income and act as a stable anchor in your portfolio.\u003C/p>\u003Cp>Some of the key benefits of diversification include\u003C/p>\u003Cul>\u003Cli>Reduces exposure to market volatility\u003C/li>\u003Cli>Balances growth and security\u003C/li>\u003Cli>Ensures multiple income streams\u003C/li>\u003C/ul>\u003Ch2>\u003Cstrong>Leveraging the Power of Annuities for Stable Income\u003C/strong>\u003C/h2>\u003Cp>Annuities are powerful tools for creating guaranteed payouts in retirement. By converting your savings into a regular income stream, annuities ensure you never outlive your money. The \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\\\">\u003Cspan>Shriram Life Immediate Annuity Plus Plan\u003C/span>\u003C/a> (UIN: 128N063V07\u003Cspan>)\u003C/span> is an excellent example, providing multiple payout options and the flexibility to choose how and when you receive your income.\u003C/p>\u003Cp>But, here is the question: Why should you consider annuities? \u003C/p>\u003Cp>Annuities \u003C/p>\u003Cul>\u003Cli>Provide predictable, lifelong income\u003C/li>\u003Cli>Protect against longevity risk\u003C/li>\u003Cli>Provide peace of mind with guaranteed payments\u003C/li>\u003C/ul>\u003Ch2>\u003Cstrong>Planning Early to Benefit from Compounding Growth\u003C/strong>\u003C/h2>\u003Cp>The earlier you start planning, the more you benefit from the power of compounding. Early planning benefits include higher returns, lower required monthly savings, and a larger retirement corpus. The \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan\\\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a> (UIN: 128N053V05)\u003Cspan> \u003C/span>encourages disciplined savings and provides guaranteed benefits, making it easier to build wealth over time. With flexible policy terms of 8, 10, 12, or 15 years and premium payment options ranging from monthly to annual, you can tailor this plan to your financial goals.\u003C/p>\u003Cp>Compounding interest means your returns generate their own returns, accelerating your savings growth year after year.\u003C/p>\u003Ch2>\u003Cstrong>Managing Expenses and Avoiding Financial Pitfalls\u003C/strong>\u003C/h2>\u003Cp>Smart retirement planning isn’t just about growing your income—it’s also about managing retirement expenses and avoiding common financial pitfalls. Create a realistic budget, avoid high-interest debt, and account for inflation to protect your nest egg. \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/early-cash-plan\\\">\u003Cspan>The Shriram Life Early Cash Plan\u003C/span>\u003C/a> (UIN: 128N093V03) provides liquidity, allowing you to access funds for emergencies or unexpected costs without derailing your long-term goals.\u003C/p>\u003Cp>Here are some additional tips for managing expenses:\u003C/p>\u003Cul>\u003Cli>Start by creating a monthly budget based on your expected income after retirement. For instance, if you expect to spend around ₹40,000 per month, be sure to factor in rising costs due to inflation, about 5% annually.\u003C/li>\u003Cli>Pay off any high-interest debt before retiring, like credit card balances or personal loans. This reduces financial stress and frees up more of your income for essential needs.\u003C/li>\u003Cli>Keep an emergency fund with at least six months' worth of expenses in a savings account. This gives you a cushion for unexpected costs like medical bills or urgent home repairs.\u003C/li>\u003Cli>Plan ahead for healthcare. Consider increasing your insurance coverage or setting aside funds specifically for medical needs.\u003C/li>\u003C/ul>\u003Cp>To add flexibility, consider a policy like the \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/early-cash-plan\\\" target=\\\"_blank\\\">Shriram Life Early Cash Plan\u003C/a> (UIN: 128N093V02). It provides periodic payouts, giving you access to funds when needed, without dipping into your long-term savings or disrupting your financial plan.\u003C/p>\u003Ch2>\u003Cstrong>Taking Advantage of Tax-Saving Opportunities\u003C/strong>\u003C/h2>\u003Cp>Tax-saving retirement strategies can significantly enhance your retirement income by reducing the taxes you pay on savings and withdrawals. The \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/pension-plus\\\">\u003Cspan>Shriram Life Pension Plus Plan\u003C/span>\u003C/a> (UIN: 128L065V03) provides tax benefits under current laws and allows you to customise your investment strategy for maximum efficiency.\u003C/p>\u003Cp>Here is how tax planning helps you. It\u003C/p>\u003Cul>\u003Cli>Increases your net retirement income\u003C/li>\u003Cli>Allows more of your money to grow\u003C/li>\u003Cli>Provides flexibility in withdrawals and payouts\u003C/li>\u003C/ul>\u003Ch2>\u003Cstrong>Achieving Financial Security in Retirement\u003C/strong>\u003C/h2>\u003Cp>Maximising your retirement income is more than just saving—it involves making strategic choices that ensure financial security in retirement. By focusing on diversified investments, starting early, leveraging annuities, managing expenses, and using tax-saving strategies, you can build a robust plan for your future.\u003C/p>\u003Cp>Shriram Life Insurance’s retirement products provide comprehensive solutions tailored to your needs, helping you enjoy a stable, worry-free retirement.\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"How Do You Choose the Right Retirement Plan for Your Needs?\",\"heading\":\"How Do You Choose the Right Retirement Plan for Your Needs?\",\"short_description\":\"\u003Cp>\u003Cspan>The Indian market provides numerous Retirement Plans to help people achieve financial independence\u003Cstrong> \u003C/strong>for their golden years, b\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/how-do-you-choose-the-right-retirement-plan-for-your-needs.webp?VersionId=2CnZZm6jsH7ReYNt4hIRzBhv7VPONIzl\",\"alt\":\"How Do You Choose the Right Retirement Plan for Your Needs?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-19T05:52:08\",\"updated_on\":\"2025-05-19T05:52:13\",\"read_more_title\":\"Know More\",\"slug\":\"/how-do-you-choose-the-right-retirement-plan-for-your-needs\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>, \u003Ca href=\\\"/blog/guides/retirement\\\" hreflang=\\\"en\\\">Retirement\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>The Indian market provides numerous Retirement Plans to help people achieve financial independence\u003Cstrong> \u003C/strong>for their golden years, but not every product is a right match for your portfolio. Some plans are designed to provide a steady income post-retirement, while others are exclusively for wealth accumulation for golden years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You should always choose investment options that help you achieve your desired lifestyle and goals for a secure, worry-free, and comfortable retirement. You may explore Shriram Life Insurance’s retirement solutions if your primary goals revolve around financial security and stability. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog discusses more about \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/retirement-plan\\\" target=\\\"_blank\\\">\u003Cspan>choosing retirement plans\u003C/span>\u003C/a>\u003Cspan> aligned with your needs so you accomplish all your retirement goals. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Define Your Aspirations for Financial Independence\u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Identifying clear aspirations should be your starting step during the retirement planning phase because it will help you choose the right investment plans. Decide whether you want a modest, need-based retirement or one filled with travel and leisure. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Additionally, factor in crucial aspects, such as medical costs, living expenses, inflation-adjusted expenses, emergency funds, etc., to determine the amount you’ll need to live your dream retirement life. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re looking for post-retirement income options to create a stable income flow during retirement, consider investing in \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan\\\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N053V05). It provides regular income options and combines the best features of Retirement, Child, and Savings Plans. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Assess Risk Preferences for Smarter Savings \u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Everyone should evaluate their risk tolerance before choosing retirement plans. Those with high-risk tolerance may invest in market-based plans like equities or mutual funds to earn higher returns over time. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>However, people with a low-risk profile desiring financial stability and predictability in retirement should opt for safer options, such as non-linked Life Insurance-backed plans. This approach will help you prevent financial distress during economic downturns, depleting your retirement savings. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/early-cash-plan\\\">\u003Cspan>Shriram Life Early Cash Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N093V02) is one of the best low-risk plans that preserve your capital investment and provide steady growth through the power of compounding and cash bonus guarantee, so consider exploring it for a secure retirement. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Maximise Benefits with Tax-Saving Retirement Plans\u003C/strong> \u003C/h2>\u003Cp>\u003Cspan>One of the smartest ways to maximise your savings is investing in plans that qualify for tax benefits u/s 80C, 80CCC, 10 (10A), etc.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>For instance, if you include the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/pension-plus\\\">\u003Cspan>Shriram Life Pension Plus\u003C/span>\u003C/a>\u003Cspan> plan (UIN: 128L065V03) in your retirement portfolio, you can claim the premium payments as standard deductions u/s 80C while filing Income Tax Returns (ITR) to lower your taxable income and tax liability. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Maturity proceeds can be partially or fully tax-exempt u/s 10(10A), subject to certain conditions. We recommend evaluating the tax benefits of pension plans and other options to make strategic choices. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Embrace Flexibility to Meet Changing Needs\u003C/strong> \u003C/h2>\u003Cp>\u003Cspan>Retirement may not always go as planned; hence, always choose investments with flexible features. Rigid policies may cover today’s goals but may not accommodate evolving family needs, healthcare emergencies, or desires to pursue a hobby or travel the world. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re exploring flexible options, you may check the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/saral-pension\\\">\u003Cspan>Shriram Life Saral Pension Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N092V01). Besides providing two annuity options, lifelong annuity payment, inbuilt critical cover, it lets policyholders take policy loans to cover unexpected financial needs. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Secure Instant Income After Retirement \u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Since retirement marks the end of a predictable, stable salary income, you must invest in plans that generate substantial income to maintain your lifestyle during the golden years. Look for post-retirement income options, such as annuity plans, that provide immediate financial support. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The\u003Cstrong> \u003C/strong>\u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\\\">\u003Cspan>Shriram Life Immediate Annuity Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN:128N063V07) is one of the best annuity plans for retirement as it provides immediate annuity plus insurance. You can use it to enjoy regular savings and tax benefits while receiving a steady flow of income for post-retirement stability. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Conclusion\u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Investing in any financial product isn’t enough to achieve financial independence\u003Cstrong> \u003C/strong>and stability during retirement. You must invest in plans that match your risk profile and help you achieve the desired economic goals in a realistic time frame. If you’re overwhelmed with the available options, consider evaluating them using the discussed tips. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>It will help you find the right retirement plan. At Shriram Life Insurance, we provide various plans, including \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan>, Retirement Plans, \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> to help people achieve diverse financial goals. You can \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/reach-us\\\">\u003Cspan>contact the Shriram Life Insurance team\u003C/span>\u003C/a>\u003Cspan> to get assistance with choosing the right plan for your needs. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"}],\"blog_count\":[{\"count\":176,\"counts\":176}],\"nothing\":\"all\",\"nothing_1\":317}]","http://127.0.0.1:4000/api/v1/tagged-blogs/317/all":"[{\"category\":[{\"id\":1781,\"name\":\"Super Income Plan\"},{\"id\":1782,\"name\":\"Advice\"},{\"id\":1930,\"name\":\"Child Plan\"},{\"id\":1979,\"name\":\"Early Cash Plan\"},{\"id\":1982,\"name\":\"Assured Income Plan\"},{\"id\":1984,\"name\":\"Golden Premier Saver Plan\"},{\"id\":1985,\"name\":\"Premier Assured Benefit\"},{\"id\":1986,\"name\":\"Cash Back Term Plan\"}],\"blogs\":[{\"title\":\"A Step-by-Step Guide to Choose the Best ULIP Plan in India\",\"heading\":\"A Step-by-Step Guide to Choose the Best ULIP Plan in India\",\"short_description\":\"\u003Cp>\u003Cspan>\u003Cstrong>ULIP\u003C/strong> is among the few financial products designed to give you the dual benefits of protection and growth.\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/a-step-by-step-guide-to-choose-the-best-ulip-plan-in-india.webp?VersionId=XGA2MdRwMrPgHIjf1mp84ZflVN0gc0nR\",\"alt\":\"A Step-by-Step Guide to Choose the Best ULIP Plan in India\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-28T09:46:16\",\"updated_on\":\"2025-05-28T09:46:19\",\"read_more_title\":\"Know More\",\"slug\":\"/a-step-by-step-guide-to-choose-the-best-ulip-plan-in-india\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>\u003Cstrong>ULIP\u003C/strong> is among the few financial products designed to give you the dual benefits of protection and growth. Since not all ULIPs are the same, this blog shares a comprehensive step-wise list to help individuals choose the best ULIP plan for themselves. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Start by understanding \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/blog/advice/things-to-know-about-unit-linked-insurance-plan\\\" target=\\\"_blank\\\">\u003Cspan>what is ULIP\u003C/span>\u003C/a>\u003Cspan>, gradually exploring the steps to choose the right ULIP that matches your financial goals and risk tolerance. \u003C/span>\u003C/p>\u003Ch2>What are ULIPs?\u003C/h2>\u003Cp>\u003Cspan>Unit Linked Insurance Plans (ULIPs) is a hybrid financial tool designed to give you the combined benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>Investment Plans\u003C/span>\u003C/a>\u003Cspan>. They have become an attractive investment option for many because they provide Life Insurance coverage while letting policyholders earn market-linked returns.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Most ULIPs are flexible and allow policyholders to enjoy partial withdrawal after the initial lock-in period. Now that you’ve understood what is ULIP, you may explore the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01). \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Besides providing dual benefits of protection and growth, this ULIP features a customised life cover, multiple fund options, cost-free fund switching, and liquidity benefits to help you achieve your financial goals. \u003C/span>\u003C/p>\u003Ch2>How do ULIPs Work?\u003C/h2>\u003Cp>\u003Cspan>People new to ULIP are generally unsure of how ULIP works, so let us clear it. When you purchase a ULIP and make premium payments, a portion of your premiums is used to provide life coverage while the balance is invested in market securities, such as equity, debt, balanced funds, etc., to earn market-linked returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This investment grows over a period (subject to market performance), and policyholders receive the accumulated fund value on maturity. In case of the policyholder’s untimely death, the insurer pays the amount to the nominees. \u003C/span>\u003C/p>\u003Ch2>Steps to Select the Best ULIP Plan in India\u003C/h2>\u003Ch3>Step 1: Understand ULIPS\u003C/h3>\u003Cp>\u003Cspan>You should never invest in any product you don’t clearly understand, so start by understanding what is ULIP, how ULIP works, and the different types of ULIPs. While there are numerous benefits of ULIP plans, the associated ULIP risks should also be considered before choosing any plan.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>This step is time-consuming, but it can help you understand the ins and outs of ULIPs so you choose the right goal-aligned plan.\u003C/span>\u003C/p>\u003Ch3>Step 2: Assess Your Financial Goals\u003C/h3>\u003Cp>\u003Cspan>Choosing the right ULIP plan depends significantly on what you’re investing for. So, pause and ask yourself whether you’re investing to build a substantial retirement fund, cover your child’s higher education expenses, wealth creation, or another goal. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Then, \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>explore ULIP plans\u003C/span>\u003C/a>\u003Cspan> that help you achieve them. For instance, you may search for ULIPs with primarily equity funds for wealth creation and plans with debt funds to earn stable returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You may consider the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/growth-plus\\\">\u003Cspan>Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L066V03) as it provides multiple fund classes and investment schemes to suit diverse financial goals.\u003C/span>\u003C/p>\u003Ch3>Step 3: Determine Your Risk Profile\u003C/h3>\u003Cp>\u003Cspan>Let your comfort with market volatility guide your ULIP choice. If you prioritise wealth creation and can handle moderate to high market risk, then you may invest mostly in equity funds. Individuals with low-risk tolerance should prefer ULIPs with more debt and balanced funds. \u003C/span>\u003C/p>\u003Ch3>Step 4: Compare Policies\u003C/h3>\u003Cp>\u003Cspan>Not every policy is created equally, so you should evaluate shortlisted options by analysing their distinct \u003Cstrong>ULIP risks\u003C/strong>, features, and benefits.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Compare each option based on fund performance over the last five to ten years, flexibility to switch funds, partial withdrawals, taxability of ULIP, premiums, minimum lock-in period, available fund options, and other factors that matter the most to you. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The best ULIP will always be transparent and align with your financial desires, risk tolerance, and expectations. \u003C/span>\u003C/p>\u003Ch3>Step 5: Check Associated Charges\u003C/h3>\u003Cp>\u003Cspan>ULIPs generally have numerous charges for premium allocation, mortality, fund management, etc. You should choose plans with minimum to no associated charges to maximise your returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>We provide ULIPs like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/fortune-builder\\\">\u003Cspan>Shriram Life Fortune Builder Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L038V03) that provide cost-free, unlimited fund switching to benefit policyholders. You can explore our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01) if you’re looking for plans with zero charges on fund switching, premium redirection, and auto transfer options. \u003C/span>\u003C/p>\u003Ch3>Step 6: Evaluate Tax Benefits\u003C/h3>\u003Cp>\u003Cspan>The best ULIP provide more than protection and growth benefits; they help policyholders enjoy immediate savings through tax benefits. Sections 80C, 10(10D), and 45 determine the taxability of ULIP. Section 80C allows policyholders to deduct premium payments to lower their taxable liability up to ₹1.5 lakh/annum. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Section 10(10D) makes maturity proceeds tax-exempt if applicable rules are met. Your fund transfers within ULIP remain tax-free under section 45. Plan your investments strategically to avail maximum tax benefits of ULIP.\u003C/span>\u003C/p>\u003Ch3>Step 7: Finalise and Purchase\u003C/h3>\u003Cp>\u003Cspan>Once you’ve evaluated the shortlisted ULIPs against all the above factors, finalise the one that aligns with your goals, risk profile, budget, and expectations. \u003C/span>\u003C/p>\u003Ch2>Steps to Buy a ULIP Policy Online\u003C/h2>\u003Cp>\u003Cspan>If you’re ready to buy Shriram Life Insurance \u003Cstrong>ULIP\u003C/strong> plans online, start by visiting the shortlisted policy page and follow the steps below:\u003C/span>\u003C/p>\u003Cul>\u003Cli>\u003Cspan>Fill in the details at the top and click ‘Apply Online.’\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Verify your contact number via OTP to proceed.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Customise the policy by choosing policy value, premium amount, premium frequency, fund choice, etc. \u003C/span>\u003C/li>\u003Cli>\u003Cspan>Review the policy terms and confirm the details.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Make the payment and receive policy confirmation details on your registered contact details.\u003C/span>\u003C/li>\u003C/ul>\u003Ch2>Factors to Evaluate Before Investing in ULIP Policies\u003C/h2>\u003Cp>\u003Cspan>When choosing ULIP policies, always evaluate them based on factors like their flexibility, features, lock-in period, fund options, past performance, premium, associated charges, taxability of ULIP, and other aspects relevant to you. You can consult a certified financial expert for personalised guidance if you’re overwhelmed with the options and cannot make independent decisions. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>Choosing the right ULIP can help you build a financially secure future through market-linked returns while protecting your family members under reliable Life Insurance coverage. If you’re unable to choose the right plan, following the steps discussed above can help. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>At Shriram Life Insurance, you can explore various ULIPs designed to fulfil diverse financial goals. We also provide \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> that complement ULIPs for maximum economic benefit.\u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"ULIP vs Term Insurance: Which Option is Right for You?\",\"heading\":\"ULIP vs Term Insurance: Which Option is Right for You?\",\"short_description\":\"\u003Cp>\u003Cspan>ULIPS and Term Life Insurance\u003Cstrong> \u003C/strong>plans have become popular\u003Cstrong> \u003C/strong>investment options in the Indian market, each desig\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/ulip-vs-term-insurance-which-option-is-right-for-you_0.webp?VersionId=QDgexLgja6WeCU4LqvpR13x55tqR_tM3\",\"alt\":\"ULIP vs Term Insurance: Which Option is Right for You?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-27T10:12:08\",\"updated_on\":\"2025-05-27T10:13:11\",\"read_more_title\":\"Know More\",\"slug\":\"/ulip-vs-term-insurance-which-option-is-right-for-you\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>ULIPS and Term Life Insurance\u003Cstrong> \u003C/strong>plans have become popular\u003Cstrong> \u003C/strong>investment options in the Indian market, each designed to fulfil different financial goals. ULIPs are dual-benefit products that combine investment benefits with life insurance coverage, whereas Term Life Insurance provides pure life cover with no investment component. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>To achieve specific financial goals, you must be clear about ULIPS vs. Term Insurance\u003Cstrong> \u003C/strong>Plans. This blog covers fundamental knowledge about ULIPs and Term Insurance Plans, their differences, and other related topics so you can choose the option that best suits your financial goals and risk tolerance.\u003C/span>\u003C/p>\u003Ch2>Understanding ULIP\u003C/h2>\u003Cp>\u003Cspan>Unit Linked Insurance Plan (ULIP) combines dual benefits of market-linked investments and life insurance into one product. It’s designed for individuals who want to secure their family’s future while growing their wealth over time. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Besides\u003Cstrong> \u003C/strong>investment benefits, their flexibility, partial withdrawals, fund options, tax benefits, etc., are additional standout features that make it an attractive investment to most. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Anyone who wants to enjoy market-linked growth, secure insurance coverage, and flexibility should consider including a Unit Linked Insurance Plan (ULIP), like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan>\u003Cstrong> \u003C/strong>(UIN: 128L096V01) in their portfolio.\u003C/span>\u003Cem>\u003Cspan>\u003Cstrong> \u003C/strong>\u003C/span>\u003C/em>\u003Cspan>Investment Plans like these are ideal for wealth creation and financial security. \u003C/span>\u003C/p>\u003Ch2>Understanding Term Insurance\u003C/h2>\u003Cp>\u003Cspan>Term Life Insurance provides financial protection to your family members in case of an unfortunate event like your untimely death. Unlike ULIPs, Term Insurance Plans don’t provide survival or maturity benefits.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>It is the best insurance plan for anyone whose sole objective is to ensure the family’s financial security even when they’re not around. The most notable features of Term Plans are their comparatively low premiums and high coverage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You may explore our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/smart-protection-plan\\\">\u003Cspan>Shriram Life Smart Protection Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N069V05), to secure your family’s financial future for challenging times. If you conduct a\u003Cstrong> \u003C/strong>premium comparison in the ULIP vs Term Insurance analysis, our Term Insurance will stand out for its incredibly lower premiums and long-term coverage. \u003C/span>\u003C/p>\u003Ch2>ULIP Vs Term Insurance: A Detailed Comparison\u003C/h2>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Point of Differentiation\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Unit Linked Insurance Plan (ULIP)\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Term Life Insurance\u003C/strong>\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Premium Costs\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Higher than Term Insurance because of the investment component\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Lower than ULIPs\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Investment Returns\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Potentially higher returns because of market-linked earnings\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Only death benefits are provided, making the returns less attractive than ULIPs\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Risk Coverage\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Risk coverage is typically lower than Term Insurance\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Higher and fixed risk coverage\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Flexibility \u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Highly flexible, especially regarding partial withdrawals after a pre-determined period\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Limited to no flexibility\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Customisation \u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Option to customise life cover based on requirements\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Basic customisation through optional riders, such as critical illness, accidental death benefit, etc.\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Tax Implications\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium payments can be deducted u/s 80C and maturity proceeds can be tax-exempt if all the rules u/s 10(10D) are fulfilled during the maturity period \u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premiums paid can be deducted u/s 80C and death benefits are tax-free u/s 10(10D)\u003C/span>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp> \u003C/p>\u003Ch2>Factors to Consider While Choosing Between ULIP and Term Insurance\u003C/h2>\u003Ch3>Financial Goals\u003C/h3>\u003Cp>\u003Cspan>Individuals willing to build wealth while staying insured under life coverage should choose a goal-aligned \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>Unit Linked Insurance Plan\u003C/span>\u003C/a>\u003Cspan> (ULIP). However, if your primary objective is to secure your family’s financial future even when you're not around, then Term Life Insurance is a better choice. \u003C/span>\u003C/p>\u003Ch3>Risk Appetite\u003C/h3>\u003Cp>\u003Cspan>ULIPs are market-linked, so their returns fluctuate due to external conditions. Hence, invest in ULIPs if you’re comfortable with market volatility and can bear medium to high risk. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Those desiring risk-free protection should choose Term Life Insurance as the returns remain fixed, unaffected by external factors. You can additionally invest in our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> that complement the Term Insurance for optimal returns. \u003C/span>\u003C/p>\u003Ch3>Investment Horizon\u003C/h3>\u003Cp>\u003Cspan>Since ULIPs are market-linked, you generally have to remain invested longer to earn substantial returns. Many ULIPs feature a specific lock-in period, making it a long-term commitment.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Conversely, Term Insurance can have a comparatively lower investment horizon as the return remains fixed throughout the policy period. \u003C/span>\u003C/p>\u003Ch3>Budget Constraints\u003C/h3>\u003Cp>\u003Cspan>People with lower budgets can choose Term Insurance Plans because they provide high coverage at a fraction of the amount typically required in ULIP plans. ULIPs demand higher budgets as a portion of the premium payment gets invested in market-linked instruments, such as bonds, equities, mutual funds, etc. \u003C/span>\u003C/p>\u003Ch3>Future Financial Needs\u003C/h3>\u003Cp>\u003Cspan>Your financial responsibilities may evolve with time, so always factor in potential expenses that may arise in the future, such as unavoidable property repairs, medical expenses, etc., while choosing between ULIP or Term Insurance. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>ULIPs partial withdrawal and market-linked returns may ease your financial burden, whereas Term Insurance will safeguard your family’s lifestyle against loss of income after your untimely death. \u003C/span>\u003C/p>\u003Ch2>Expert Advice\u003C/h2>\u003Cp>\u003Cspan>The entire ULIP vs Term Insurance debate can be confusing, so consult a certified financial expert for personalised guidance. Most experts recommend not mixing investment and protection unless you understand how each may influence your financial goal status. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Never mistake ULIPs as ‘guaranteed income’ products or ignore their lock-in periods when investing. We encourage individuals to invest early as it may help get slightly lower premiums.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Rohan, a 30-year, salaried individual with a dependent spouse and two children, wanted to secure his family’s financial future with maximum life coverage. Hence, he opted for the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/smart-protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Shriram Life Smart Protection Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N069V05) for security. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>He additionally invested small amounts in our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/golden-jubilee-plan\\\">\u003Cspan>Shriram Life Golden Jubilee Plan\u003C/span>\u003C/a>\u003Cspan> (UIN 128L095V01) to support his wealth creation goals. Such balanced investment helped him achieve multiple goals without overexposing his investments to market volatility and preventing excessive premium burden. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>The whole ‘ULIP vs Term Insurance’ analysis isn’t about which is better but which is right for you. Term Insurance is ideal for creating a financial security net for your family so they can continue living a good life even when you’re not around. ULIPs, on the other hand, are great for providing life coverage while enjoying wealth creation. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>We recommend assessing your needs to make the right choice. At Shriram Life Insurance, we provide both Term Insurance and ULIPs, so you may explore our plans to fulfil your financial goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"Maximising Your ULIP Returns: Tax Benefits Explained\",\"heading\":\"Maximising Your ULIP Returns: Tax Benefits Explained\",\"short_description\":\"\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">A Unit Linked Insurance Plan (ULIP) has become an attractive investment option for many Indians because it prov\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/maximizing-your-ulip-returns-tax-benefits-explained.webp?VersionId=XS0w_GpZZbq4SBzoiQo_As_tCV8BsGIm\",\"alt\":\"Maximising Your ULIP Returns: Tax Benefits Explained\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-26T07:22:36\",\"updated_on\":\"2025-05-26T07:22:41\",\"read_more_title\":\"Know More\",\"slug\":\"/maximising-your-ulip-returns-tax-benefits-explained\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">A Unit Linked Insurance Plan (ULIP) has become an attractive investment option for many Indians because it provides more than life insurance coverage and market-linked returns. We’re talking about the savings earned through\u003Cstrong> \u003C/strong>tax exemptions and deductions. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">This blog details the different tax implications of ULIPs and practical ways to maximise ULIP returns. You can use this information to plan your investments strategically for maximum savings and returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Understanding ULIP\u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Unit Linked Insurance Plan (ULIP) is a hybrid financial product that combines the benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Investment Plans\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Protection Plans\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">. It is designed to provide market-linked returns to policyholders while securing them and their family members under life insurance coverage.\u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Besides providing dual benefits of higher earning potential and stable life coverage, it stands out for its flexibility. For instance, if you have purchased our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> (UIN: 128L096V01), you can enjoy easy access to your funds through partial withdrawals after the first five years.\u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">You also receive free fund switching, auto transfer, and premium redirection to maximise earnings. When you pay policy premiums, a portion goes towards providing life coverage, while the balance is invested in market securities for higher financial growth. Their\u003Cstrong> \u003C/strong>tax savings component also deserves special mention, so let’s explore it in the following section. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Tax Benefits of ULIP \u003C/span>\u003C/h2>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Section 80C\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Premiums paid on ULIPs can be deducted u/s 80C, providing immediate tax savings. However, policyholders can only deduct up to ₹ 1.5 lakh/annum. You can use our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/income-tax-calculator\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">income tax calculator\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> to gain clarity on your savings. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Section 10(10D)\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Section 10(10D) lists\u003Cstrong> \u003C/strong>tax exemption rules that determine whether maturity proceeds will be taxable. According to this section, maturity proceeds won’t be taxable on policies issued on or after 1st February 2021 if the premium paid doesn’t exceed ₹ 2.5 lakh or 10% of the policy value for any policy year. These tax implications can significantly increase your investment returns. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Section 45\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">One of the biggest ULIP tax benefits is that it doesn’t attract taxes on fund switching. Policyholders can use this clause to repeatedly rebalance their portfolios without triggering a taxable event, maximising ULIP returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Maximising Your ULIP Returns\u003C/span>\u003C/h2>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Strategies for Maximising Returns\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">While there are numerous ways to maximise ULIP returns, you should consider using its tax-free switching feature to move between equity, debt, or balanced funds based on market trends or your risk tolerance. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">For example, switching to equity in bullish markets and shifting to debt funds during volatile periods can help you earn stable returns without overexposing your investments to market risks.\u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">You can also plan your ULIP investments strategically to enjoy the maximum\u003Cstrong> \u003C/strong>tax savings. We have covered it in the previous section, so use it in your financial planning to gain a tax advantage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">We also encourage policyholders to track fund performance and make relevant adjustments for growth regularly. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Choosing the Right ULIP Plan\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Not all ULIPs are created equal, so choose a plan that aligns with your financial goals, budget, and risk profile. You may explore the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/growth-plus\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> (UIN: 128L066V03) if you prioritise wealth creation while financially securing your family for challenging times. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">In addition to life coverage and market-linked returns, it provides loyalty benefits, multiple fund classes and investment schemes to help policyholders earn more, free fund switching, etc. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">If you have a low-risk profile, consider adding one of our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Savings Plans\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> or \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Child Plans\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> to your portfolio to complement or balance ULIP investments. \u003C/span>\u003C/p>\u003Ch3>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Long-Term Investment Horizon\u003C/span>\u003C/h3>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">ULIPs are not designed for short-term gains. Most of these plans feature a lock-in period, generally five years, and the market-linked returns make them most effective over 10 or 15 years or higher to generate substantial returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Hence, anyone who plans on maximising ULIP returns should treat it as a long-term investment.\u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Case Study\u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Rohan, a 35-year salaried individual in the 30% tax bracket, invested in the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/golden-jubilee-plan\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Shriram Life Golden Jubilee Plan\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> (UIN 128L095V01). Since his priority was accumulating wealth for a secure retirement and he had a moderate to high-risk tolerance, he chose a 20-year policy tenure and paid ₹ 75,000 as a yearly premium. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">With additional investments including ₹10,000/year towards the Public Provident Fund (PPF), ₹ 25,000 for a National Savings Certificate, and ₹ 18,000 for Sukanya Samriddhi Yojana, he utilised full\u003Cstrong> \u003C/strong>tax benefits u/s 80C. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">It helped him save approximately ₹ 22,500 (75,000*30%) on ULIP premium payments alone, increasing his overall savings. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Common Mistakes to Avoid \u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Anyone purchasing ULIPs post 1st February 2021 should remember that tax exemptions u/s 10(10D) are only valid if the premium payments don’t exceed ₹2.5 lakh or 10% of the policy value in any year, so invest accordingly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">We encourage individuals to treat ULIPs as long-term investments and utilise the unlimited free fund-switching option and available tax implications for maximising ULIP returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Expert Recommendations\u003C/span>\u003C/h2>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Whether you’re new to investing or a seasoned investor, we encourage everyone to keep their risk tolerance and financial goals at the centre of every investment decision. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">You should also focus on investing early and staying invested longer to enjoy greater returns through the power of compounding. Frequent reviews and rebalancing are recommended for achieving stable financial growth and substantial investment returns. \u003C/span>\u003C/p>\u003Ch2>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Conclusion\u003C/span>\u003C/h2>\u003Cp>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">Unit Linked Insurance Plan\u003C/span>\u003C/a>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\"> (ULIP) isn’t a regular financial product, but a strategic tool designed to provide multiple benefits in one product. Besides flexibility, life insurance coverage, and market-linked growth, it also provides substantial tax savings when utilised correctly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan lang=\\\"EN-US\\\" lang=\\\"EN-US\\\">You can use the information shared above to maximising ULIP returns and ULIP tax benefits. If you’re looking for good ULIPs, Shriram Life Insurance provides numerous ULIPs designed to achieve diverse financial goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"What are the Essential Tips to Secure Your Retirement?\",\"heading\":\"What are the Essential Tips to Secure Your Retirement?\",\"short_description\":\"\u003Cp>\u003Cspan>Living a comfortable, worry-free, and secure retirement life requires thoughtful planning and investments during active work years.\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/what-are-the-essential-tips-to-secure-your-retirement.webp?VersionId=RsWKbwlRgrhbiXDU_kjokuGNnRBQBt5P\",\"alt\":\"What are the Essential Tips to Secure Your Retirement?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-23T06:53:32\",\"updated_on\":\"2025-05-23T06:53:38\",\"read_more_title\":\"Know More\",\"slug\":\"/what-are-the-essential-tips-to-secure-your-retirement\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>, \u003Ca href=\\\"/blog/guides/retirement\\\" hreflang=\\\"en\\\">Retirement\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>Living a comfortable, worry-free, and secure retirement life requires thoughtful planning and investments during active work years. This blog covers practical retirement planning tips to help individuals secure their retirement with minimal risk. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Making safe investments is one of the best ways to secure one’s retirement, as it acts as a financial cushion during short and long-term economic uncertainties. While the Indian market provides numerous investment options to fulfil various retirement goals, insurance plans emerge as the most reliable tool for financial stability and security. \u003C/span>\u003C/p>\u003Ch2>Why Retirement Planning Should Be Your Top Priority?\u003C/h2>\u003Cp>\u003Cspan>While retirement marks the beginning of a new life chapter, it also marks the end of your fixed salary income. Anyone who wants to continue leading a financially secure life in their golden years must prioritise \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/retirement-plan\\\" target=\\\"_blank\\\">\u003Cspan>financial planning for retirement\u003C/span>\u003C/a>\u003Cspan> during their early work years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Early retirement planning and goal-aligned strategic investments can help you build multiple post-retirement income streams. Besides replacing your salary income, this predictable income will ensure you don’t outlive your savings. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The right investments will outgrow inflation and sustain unpredictable market conditions, securing your financial future. \u003C/span>\u003C/p>\u003Ch2>Set Clear and Achievable Retirement Goals\u003C/h2>\u003Cp>\u003Cspan>Everyone wants adequate funds to live a comfortable retirement life, but how much is ‘adequate’ for you? Since people have varying preferences, lifestyles, desires, and obligations, they should set clear and achievable retirement goals that support their dream retirement life.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you want to lead a luxurious retired life with the financial freedom to travel to dream destinations, pursue multiple hobbies, take care of all family responsibilities, etc., you must set goals that help fulfil these desires. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This approach brings clarity, helping you choose the right \u003Cstrong>i\u003C/strong>nvestment strategies for retirement. Setting clear goals sets a strong foundation for long-term financial stability and planning\u003C/span>\u003Cem>\u003Cspan>\u003Cstrong>,\u003C/strong>\u003C/span>\u003C/em>\u003Cspan> so don’t ignore this step.\u003C/span>\u003C/p>\u003Ch2>Boost Your Savings with Smart Strategies\u003C/h2>\u003Cp>\u003Cspan>Controlling your expenses and making higher contributions to relevant investment plans is a smart way to boost retirement savings. You can start investing early to let your capital grow with the compounding effect. Additional savings can be enjoyed by claiming tax benefits on relevant investments. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While there are numerous tax-saving options, such as the Public Provident Fund (PPF), Equity-Linked Saving Scheme (ELSS), National Pension System (NPS), etc., you can invest in \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan\\\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N053V05) as it combines standout features of Savings, Child, and Retirement Plans, besides providing tax benefits u/s 80C. \u003C/span>\u003C/p>\u003Ch2>Diversify Investments to Reduce Risks\u003C/h2>\u003Cp>\u003Cspan>Diversifying your investments is one of the most essential retirement tips you must follow. It will help you optimise your portfolio’s performance while reducing risks tied to market volatility. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>For instance, if you invest in market-linked mutual funds or equity markets to tap into higher return potential, you must offset the risk by including non-linked \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan>, such as the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/early-cash-plan\\\">\u003Cspan>Shriram Life Early Cash Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N093V03) in your portfolio.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Plans like these provide a capital guarantee while growing your retirement savings through the power of compounding. You can \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan-calculator\\\">\u003Cspan>calculate your Life Insurance premium returns\u003C/span>\u003C/a>\u003Cspan> for better planning. \u003C/span>\u003C/p>\u003Ch2>Avoid Common Retirement Planning Mistakes\u003C/h2>\u003Cp>\u003Cspan>Being aware of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/blog/advice/7-retirement-mistakes-experts-dont-want-you-to-know\\\" target=\\\"_blank\\\">\u003Cspan>retirement mistakes to avoid \u003C/span>\u003C/a>\u003Cspan>can help you with efficient financial planning for retirement. Many people make common mistakes, such as underestimating their future expenses, starting saving late, not reviewing their investments, etc. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>When you create a contingency fund to accommodate unexpected emergencies, start early retirement planning, and factor in expenses that may increase your cost of living, you’re more likely to build a large enough retirement fund for a comfortable and financially secure retirement life. \u003C/span>\u003C/p>\u003Ch2>Adapting Plans as Financial Needs Change\u003C/h2>\u003Cp>\u003Cspan>Financial needs keep evolving with time, so you should always review your retirement plans to realign them with your current financial goals and requirements. While reviewing your plans every six months is ideal, those busy with day-to-day life can review them annually. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>However, reviews must be non-negotiable during important life events, such as career transitions, additional responsibilities, shifts in health conditions, etc. We encourage adopting flexibility to achieve new retirement goals effortlessly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If your new conditions require additional income sources within the coming months, consider including \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\\\">\u003Cspan>Shriram Life Immediate Annuity Plus\u003C/span>\u003C/a>\u003Cspan> (UIN:128N063V07) in your portfolio. This plan provides immediate annuity plus insurance so you can support your daily lifestyle expenses while enjoying life coverage. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>Thoughtfully planned and goal-aligned investment choices can help everyone achieve a secure retirement. If you’re in the early planning stages, consider implementing the retirement planning tips discussed in this blog and use reliable retirement calculators to simplify the process. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You can invest in the various Retirement and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> provided by Shriram Life Insurance, as every plan is designed to fulfil diverse retirement goals. We also provide insurance plans with combined Retirement, Savings, and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> benefits to help people accomplish multiple financial goals simultaneously. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>So, explore our plans and include relevant ones in your portfolio to get closer to your retirement goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"Why ULIPs Might Be the Best for Your Financial Planning: A Complete Guide\",\"heading\":\"Why ULIPs Might Be the Best for Your Financial Planning: A Complete Guide\",\"short_description\":\"\u003Cp>\u003Cspan>People generally have different financial goals, but desires like wealth creation to support retirement years and securing family’s financial\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/why-ulips-might-be-the-best-for-your-financial-planning.webp?VersionId=9JBy.RERK8kG3x.JVceBJFRb_Nt387nk\",\"alt\":\"Why ULIPs Might Be the Best for Your Financial Planning\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-22T07:16:14\",\"updated_on\":\"2025-05-22T07:16:18\",\"read_more_title\":\"Know More\",\"slug\":\"/why-ulips-might-be-the-best-for-your-financial-planning-a-complete-guide\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>People generally have different financial goals, but desires like wealth creation to support retirement years and securing family’s financial future for unfortunate times remain common. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>ULIPs are gaining massive popularity in the Indian financial market as they provide dual benefits of protection and growth. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog will help you understand why ULIPs are the best for your financial planning so you can make informed investment decisions. \u003C/span>\u003C/p>\u003Ch2>What is ULIP (Unit Linked Insurance Plan)?\u003C/h2>\u003Cp>\u003Cspan>ULIP is a specialised financial product that combines the dual benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> and \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>Investment Plans\u003C/span>\u003C/a>\u003Cspan>. These plans are ideal for most individuals as they provide Life Insurance coverage and market-linked returns, supporting two financial goals simultaneously.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re looking for the best ULIP plans, consider exploring the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01). \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Besides life coverage and the potential for higher returns, it provides liquidity through partial withdrawals after the lock-in period, cost-free fund switching, customised life cover, and several benefits. \u003C/span>\u003C/p>\u003Ch2>How ULIP Works?\u003C/h2>\u003Cp>\u003Cspan>While the previous section cleared \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/blog/advice/things-to-know-about-unit-linked-insurance-plan\\\" target=\\\"_blank\\\">\u003Cspan>what is ULIP\u003C/span>\u003C/a>\u003Cspan>, let’s now explore\u003Cstrong> \u003C/strong>how ULIP works. Your ULIP premium payments are divided into two parts. One portion is used to secure Life Insurance coverage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The balance is invested in market securities like equities, debts, or balanced funds of the policyholder’s choice to earn higher returns.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Upon maturity, the accumulated fund value is disbursed to the policyholder. If the policyholder dies before the policy maturity, the amount is given to the nominees. \u003C/span>\u003C/p>\u003Ch2>How to Maximise Returns from a ULIP?\u003C/h2>\u003Cp>\u003Cspan>There are numerous ways to maximise your ULIP returns, but you may consider exploring the following:\u003C/span>\u003C/p>\u003Cul>\u003Cli>\u003Cspan>Remain invested for a longer period to earn higher returns. The same technique can maximise returns from \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> or other investments.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Allocate funds based on your desired investment horizon, risk profile, and financial goals.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Invest in ULIPs like\u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/growth-plus\\\">\u003Cspan> Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L066V03) that provide cost-free fund switching.\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Minimise your partial withdrawals so the amount remains invested for an extended period and earns higher returns. \u003C/span>\u003C/li>\u003C/ul>\u003Ch2>Who Should Buy a ULIP Plan?\u003C/h2>\u003Cp>\u003Cspan>If you’re wondering isULIP a good investment for you, we’d say it’s ideal for anyone who wants to obtain dual benefits of financial growth and protection from a single financial product. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You can also choose ULIPs to complement your traditional investments, such as \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/retirement-plan\\\" target=\\\"_blank\\\">\u003Cspan>insurance for retirement\u003C/span>\u003C/a>\u003Cspan>, \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan>, mutual funds, etc., to accomplish multiple financial goals. \u003C/span>\u003C/p>\u003Ch2>How is the ULIP Plan Structured?\u003C/h2>\u003Cp>\u003Cspan>ULIP plans act as an insurance and investment product through a well-defined, straightforward structure. A portion of the premium payment is used to provide Life Insurance coverage and the balance is invested in market-linked funds of your choice.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>The Life Insurance component accumulates over a period, whereas the chosen funds earn returns according to the market conditions. \u003C/span>\u003C/p>\u003Ch2>Types of ULIPs\u003C/h2>\u003Ch3>Equity-based ULIPs\u003C/h3>\u003Cp>\u003Cspan>These plans invest more in equity and equity-related securities, such as stocks. While they carry higher risk than debt and balanced funds, their potential to earn greater returns is also high. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>It is one of the best ULIP plans for people with high-risk profiles who prioritise wealth creation and life coverage. \u003C/span>\u003C/p>\u003Ch3>Debt-based ULIPs\u003C/h3>\u003Cp>\u003Cspan>Debt-based ULIPs are a more stable investment option for people with low risk tolerance. In such plans, fund allocation is primarily toward debt instruments such as corporate debt, government bonds, and other fixed-interest instruments. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you prefer capital preservation and stable growth, you may proceed with debt-based ULIPs. \u003C/span>\u003C/p>\u003Ch3>Balanced ULIPs\u003C/h3>\u003Cp>\u003Cspan>Also known as hybrid ULIPs, these plans generally invest in equity and debt instruments to balance risk and growth. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The equity-debt ratio can vary depending on the fund’s objective, providing a diversified investment approach. Investors with a moderate risk profile should explore balanced ULIPs.\u003C/span>\u003C/p>\u003Ch2>Benefits of ULIPs\u003C/h2>\u003Ch3>Dual Benefit of Insurance and Investment\u003C/h3>\u003Cp>\u003Cspan>One of the biggest benefits of ULIP is its dual benefits of wealth creation and Life Insurance coverage, making it a comprehensive investment tool. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You may invest in ULIPs like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/golden-jubilee-plan\\\">\u003Cspan>Shriram Life Golden Jubilee Plan\u003C/span>\u003C/a>\u003Cspan> (UIN 128L095V01) as it builds financial security for your family while letting you earn market-linked returns from equity, debt, and balance funds. \u003C/span>\u003C/p>\u003Ch3>Tax Benefits\u003C/h3>\u003Cp>\u003Cspan>Anyone wondering is ULIP tax-free should check ULIP tax implications regulated under sections 80C, 10(10D), and 45. You can deduct ULIP premium payments u/s 80C and enjoy tax exemption u/s 10(10D) and 45 if all relevant guidelines are met.\u003C/span>\u003C/p>\u003Ch3>Flexibility\u003C/h3>\u003Cp>\u003Cspan>\u003Cstrong>ULIP\u003C/strong> provides extreme flexibility in the form of partial withdrawal after the lock-in period, unlimited fund-switching throughout the policy period, top-up options, etc., to support your evolving financial needs and goals. \u003C/span>\u003C/p>\u003Ch2>What is the Lock-in Period of a ULIP?\u003C/h2>\u003Cp>\u003Cspan>There is a 5-year lock-in period for most ULIPs. However, it can be higher for some policies, so check it with the respective insurer. This lock-in period encourages disciplined investing and allows the fund value to grow steadily with the power of compounding. \u003C/span>\u003C/p>\u003Ch2>ULIP vs Other Investment Options\u003C/h2>\u003Ctable>\u003Ctbody>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Basis of Differentiation\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>ULIP\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Term Insurance\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>\u003Cstrong>Mutual Funds\u003C/strong>\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Policy Purpose\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Investment and protection\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Pure Life Insurance\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Pure investment\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Returns\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Market-linked returns from chosen funds\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>No returns (only risk coverage)\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Market-linked returns\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Tax Benefits\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium deduction u/s 80C and tax exemption on maturity proceeds (if applicable) u/s 10(10D) and 45\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium deduction u/s 80C and tax-free death proceeds\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Premium deduction u/s 80C for only Equity-Linked Saving Scheme (ELSS)\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Lock-in Period\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>5 years\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>No lock-in period\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>3-year lock-in for ELSS, none for others\u003C/span>\u003C/td>\u003C/tr>\u003Ctr>\u003Ctd>\u003Cspan>\u003Cstrong>Flexibility to switch funds\u003C/strong>\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Available\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Not Applicable\u003C/span>\u003C/td>\u003Ctd>\u003Cspan>Partial or full switching is available\u003C/span>\u003C/td>\u003C/tr>\u003C/tbody>\u003C/table>\u003Cp> \u003C/p>\u003Ch2>Features of ULIP Plans\u003C/h2>\u003Ch3>Dual Benefit Structure\u003C/h3>\u003Cp>\u003Cspan>All the\u003Cstrong> \u003C/strong>best ULIP plans feature the dual benefits of Life Insurance coverage for financial security and the potential to earn higher market-linked returns for wealth creation. \u003C/span>\u003C/p>\u003Ch3>Tax Benefits\u003C/h3>\u003Cp>\u003Cspan>Tax deduction and tax exemption benefits are available under Sections 80C, 10(10D), and 45. While premium payments can be deducted to lower taxable liability, tax exemption (if available) can increase your overall ULIP returns.\u003C/span>\u003C/p>\u003Ch3>Choice of Funds\u003C/h3>\u003Cp>\u003Cspan>You can choose your desired funds while buying the policy or change it numerous times throughout the policy duration to meet your evolving financial needs and risk profile.\u003C/span>\u003C/p>\u003Ch3>Partial Withdrawal\u003C/h3>\u003Cp>\u003Cspan>Partial withdrawal is available after the initial lock-in period of 5 years. You can use this feature to cover any unexpected financial emergency. \u003C/span>\u003C/p>\u003Ch3>Transparency\u003C/h3>\u003Cp>\u003Cspan>The transparent policy structure and charges make ULIPs one of the most desired investment options for most investors. \u003C/span>\u003C/p>\u003Ch2>Fund Options Under ULIPs\u003C/h2>\u003Cp>\u003Cspan>ULIP features numerous fund options, such as equity, debt, balanced, and more. You must check the available fund options before investing, as not every ULIP has the same fund choices. \u003C/span>\u003C/p>\u003Ch2>What are ULIP Charges?\u003C/h2>\u003Cp>\u003Cspan>Since ULIP has an investment and insurance component, insurers levy various charges to cover the management expenses. While transparent, they may lower your ULIP returns slightly. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Premium allocation charges, fund management charges, mortality charges, surrender charges, and policy administration charges are a few ULIP charges you may encounter. You must choose ULIPs with minimum charges to maximise returns. \u003C/span>\u003C/p>\u003Ch2>Practical Tips for ULIP Investors\u003C/h2>\u003Cp>\u003Cspan>If you’re new to ULIP investments, consider implementing the following tips for maximising returns:\u003C/span>\u003C/p>\u003Cul>\u003Cli>\u003Cspan>Stay invested for a longer duration to earn substantial returns\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Choose fund allocation based on your risk profile\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Utilise free fund switches strategically depending on the prevailing market conditions\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Avoid premature surrender or excessive partial withdrawals\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Monitor fund performance frequently and make relevant changes whenever needed\u003C/span>\u003C/li>\u003Cli>\u003Cspan>Consult a certified financial expert for personalised guidance\u003C/span>\u003C/li>\u003C/ul>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>ULIP is a smart investment choice for modern investors as it fulfils two financial goals at once – securing the family’s financial future through Life Insurance coverage and wealth creation through market-linked returns. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re ready to strengthen your and your family’s financial future, you may consider adding the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>best ULIP plans\u003C/span>\u003C/a>\u003Cspan> to your portfolio. Start by exploring ULIPs at Shriram Life Insurance, as each plan is uniquely designed to fulfil diverse financial goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"Is Your ULIP Strategy Outdated? Discover the New Trends\",\"heading\":\"Is Your ULIP Strategy Outdated? Discover the New Trends\",\"short_description\":\"\u003Cp>\u003Cspan>ULIP plans are a smart choice for individuals looking to combine the dual benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insura</body></html>\\\">\u003C/a>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/is-your-ulip-strategy-outdated-discover-the-new-trends.webp?VersionId=3JcpUcbDrrj2BNlc7A84Wdz6T_iEGkl9\",\"alt\":\"Is Your ULIP Strategy Outdated? Discover the New Trends\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-22T06:33:03\",\"updated_on\":\"2025-05-22T06:32:05\",\"read_more_title\":\"Know More\",\"slug\":\"/is-your-ulip-strategy-outdated-discover-the-new-trends\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>ULIP plans are a smart choice for individuals looking to combine the dual benefits of \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> and Investment Plans in one financial product. While these plans feature numerous benefits, the changing regulations, tax implications, and market offering may make your traditional ULIP investment strategy obsolete.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog shares the latest ULIP trends and investment strategies so you don’t miss opportunities to maximise returns. \u003C/span>\u003C/p>\u003Ch2>Introduction to ULIPs \u003C/h2>\u003Cp>\u003Cspan>Unit Linked Insurance Plans (ULIPs) like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/wealth-pro\\\">\u003Cspan>Shriram Life Wealth Pro Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L096V01) is a hybrid financial product that provides life coverage to policyholders and their family members while letting them enjoy market-linked returns for wealth creation. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>A portion of the premium paid on ULIP plans is used to secure Life Insurance coverage, while the balance is spent on market securities, such as debt funds, equities, balanced funds, etc., of the policyholder’s choice. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>When ULIP was first introduced in the Indian market, it received criticism because of the associated charges, unclear policy structure, and high commissions paid to distributors. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>However, after IRDA’s intervention and reforms in 2010, limits were imposed on charges and ULIPs were made more transparent for investor protection.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>Since then, ULIPs have evolved into investor-friendly financial tools that facilitate wealth creation and financial safety for policyholders’ families. \u003C/span>\u003C/p>\u003Ch2>Latest Trends in ULIP Investment\u003C/h2>\u003Ch3>Return of Mortality Charges \u003C/h3>\u003Cp>\u003Cspan>Mortality charges refer to the fees deducted by insurers to cover the risk of providing death benefits (sum assured) to nominees if the policyholder dies during the policy term. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Traditionally, the mortality charges on most ULIP plans were non-refundable. However, many insurers now provide a return of mortality charges. They add the deducted charges to the fund value upon maturity, increasing the overall returns.\u003C/span>\u003C/p>\u003Ch3>Tax on Capital Gains\u003C/h3>\u003Cp>\u003Cspan>Previously, high-premium ULIPs enjoyed tax exemption u/s 10(10D) but the revised tax implications made maturity proceeds taxable if their premium payment exceeded ₹ 2.5 lakh in any year during the policy duration. This rule applies to ULIPs purchased after 1st February 2021.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>The 2025 budget also released a new rule wherein ULIPs whose annual premium exceeds 10% of the policy value will attract long-term capital gains (LTCG) tax on maturity. Hence, anyone planning to invest in any types of ULIP plans should consider choosing a lower premium amount for maximum tax benefits. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You can also complement your ULIP investments with our risk-free \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan> or \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan> to accomplish multiple financial goals faster. \u003C/span>\u003C/p>\u003Ch3>Preference for Life-Stage ULIPs\u003C/h3>\u003Cp>\u003Cspan>Of all the different types of ULIP plans, many investors now prefer life-stage ULIPs because of their dynamic asset allocation strategy. They adjust the investment mix between equity and debt based on the policyholder’s age and risk profile. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>For example, these plans may initially invest in a higher proportion of equity funds and fewer debt funds for young investors. As they age, life-stage ULIPs may gradually transfer a majority of investment to debt funds and fewer amount to equity funds to preserve your accumulated amount.\u003C/span>\u003C/p>\u003Ch3>Latest Strategies to Invest in ULIPs\u003Cspan> \u003C/span>\u003C/h3>\u003Cp>\u003Cspan>Anyone investing in ULIP plans should remain informed on the latest tax implications, policy structure, features, etc., to choose the right plan. Use the available top-up options to invest additional money to boost returns during progressive market conditions and transfer funds to debt instruments during volatile markets. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Everyone should continue monitoring and reviewing fund performance to make relevant fund switches. Consider consulting a certified financial expert for personalised guidance if you’re overwhelmed with the process and cannot make independent decisions. \u003C/span>\u003C/p>\u003Ch2>Types of ULIP Plans\u003C/h2>\u003Ch3>Single premium ULIPs\u003C/h3>\u003Cp>\u003Cspan>As the name suggests, these are ULIPs where policyholders must pay the entire premium upfront in a single payment. While they provide the same benefits as other traditional ULIPs, they stand out for eliminating the need to make future premium payments. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>It is beneficial for people who don’t have enough time and memory muscle to make multiple, timely payments. You may explore our \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/fortune-builder\\\">\u003Cspan>Shriram Life Fortune Builder Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L038V03) as this single premium ULIP provides impressive flexibility, cost-free fund switches, tax benefits, and numerous other benefits. \u003C/span>\u003C/p>\u003Ch3>Regular premium ULIPs \u003C/h3>\u003Cp>\u003Cspan>They are traditional ULIPs where policyholders pay a predetermined premium at regular intervals, such as monthly, quarterly, or yearly. These plans are generally preferred by salaried employees who can pay small premium amounts consistently every month. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re looking for a good regular premium ULIP, consider exploring the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/growth-plus\\\">\u003Cspan>Shriram Life Growth Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L066V03). Besides providing secure life coverage to your loved ones and facilitating wealth creation, it provides flexibility, cost-free fund switching and redirection of premium, loyalty benefits, riders, and more. \u003C/span>\u003C/p>\u003Ch2>Conclusion\u003C/h2>\u003Cp>\u003Cspan>ULIP plans are excellent financial tools for achieving the dual goals of wealth creation and strengthening the family’s financial future when you’re not around. If you want to maximise your ULIP returns, ensure you keep adjusting your investment strategy according to the changing trends. You can find the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>best ULIP plans\u003C/span>\u003C/a>\u003Cspan> at Shriram Life Insurance, designed to fulfil diverse financial goals. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"How Can Retirement Plans Ensure Financial Stability in Your Golden Years?\",\"heading\":\"How Can Retirement Plans Ensure Financial Stability in Your Golden Years?\",\"short_description\":\"\u003Cp>\u003Cspan>Everyone wants a secure and pleasant retirement where they can pursue their hobbies, spend quality time with their loved ones, travel whereve\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/how-can-retirement-plans-ensure-financial-stability-in-your-golden-years.webp?VersionId=VpYvs4Y6ARyeYPfofP2MFbWPc3GEPkDc\",\"alt\":\"How Can Retirement Plans Ensure Financial Stability in Your Golden Years?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-20T10:24:11\",\"updated_on\":\"2025-05-20T10:24:16\",\"read_more_title\":\"Know More\",\"slug\":\"/how-can-retirement-plans-ensure-financial-stability-in-your-golden-years\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/retirement\\\" hreflang=\\\"en\\\">Retirement\u003C/a>, \u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>Everyone wants a secure and pleasant retirement where they can pursue their hobbies, spend quality time with their loved ones, travel wherever they desire, etc. However, few realise that these retirement goals can only be achieved through financial stability in their golden years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog discusses how people can achieve financial stability through Retirement Plans for an economically secure post-retirement life. While there is no ‘one’ way to build a financially secure future, a mix of disciplined savings, smart investing, and the right insurance choices can create a future where all your needs are met and your financial independence remains intact. \u003C/span>\u003C/p>\u003Ch2>Why is Financial Stability Crucial for Retirement?\u003C/h2>\u003Cp>\u003Cspan>Whether you want a simple and laid-back lifestyle in retirement or one filled with luxury, you will need strong financial stability to live the desired post-retirement life. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Investing in the right \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/savings-plan\\\" target=\\\"_blank\\\">\u003Cspan>Savings Plans\u003C/span>\u003C/a>\u003Cspan>, market-linked plans, \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/retirement-plan\\\" target=\\\"_blank\\\">\u003Cspan>insurance for retirement\u003C/span>\u003C/a>\u003Cspan>, etc., can help you build multiple post-retirement income sources to support your preferred lifestyle. This income will strengthen your financial stability, ensuring you have substantial funds to tackle inflation, rising healthcare costs, etc. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>To establish lifetime financial security, consider including the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\\\">\u003Cspan>Shriram Life Immediate Annuity Plus\u003C/span>\u003C/a>\u003Cspan> (UIN:128N063V07) in your investment portfolio. It enables you to take an annuity for life, so you don’t have to worry about outliving your savings. \u003C/span>\u003C/p>\u003Ch2>The Role of a Structured Retirement Plan\u003C/h2>\u003Cp>\u003Cspan>A structured retirement plan is a thoughtfully designed financial tool that helps people accumulate funds and create post-retirement income for their golden years. It’s one of the best ways to build a financial safety net that always protects you against unexpected expenses, preserving your financial independence for a worry-free life. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While working employees can rely on employer-sponsored plans, such as the Employees’ Provident Fund (EPF), National Pension System (NPS), etc., self-employed individuals must explore personal pension plans, annuities, and other goal-aligned options to fulfil their retirement goals. You should select Retirement or\u003C/span>\u003Cem>\u003Cspan>\u003Cstrong> \u003C/strong>\u003C/span>\u003C/em>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/investment-plan\\\" target=\\\"_blank\\\">\u003Cspan>Investment Plans\u003C/span>\u003C/a>\u003Cspan> that match your goals and risk tolerance to maximise returns. \u003C/span>\u003C/p>\u003Ch2>How to Choose the Right Retirement Plan\u003C/h2>\u003Cp>\u003Cspan>Start by assessing your financial goals, risk tolerance, current savings, lifestyle expectations, and future needs. Then, select a plan that matches these aspects. If you’re looking to create a balanced investment portfolio to secure your retirement, invest in a mix of government-backed schemes for security and private insurance plans for steady growth and insurance coverage. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Since life is unexpected, choose retirement plans that provide liquidity and flexibility to cover emergencies. Consider the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/pension-plus\\\">\u003Cspan>Shriram Life Pension Plus\u003C/span>\u003C/a>\u003Cspan> (UIN: 128L065V03), which provides partial withdrawals after the first five years to cover financial needs. \u003C/span>\u003C/p>\u003Ch2>Invest Smartly for a Stable Future\u003C/h2>\u003Cp>\u003Cspan>Smart investing decisions can help you accomplish your\u003Cstrong> \u003C/strong>retirement goals faster. One of the best investment and savings strategies for retirement is starting early, as it provides more time for your investment to grow through compounding interest. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>People with low-risk tolerance should invest in non-linked insurance plans and government bonds for steady returns, while those with medium to high-risk profiles can explore market-linked options for greater return potential. You can also explore tax-saving options to lower taxable income and liability, boosting retirement savings.\u003C/span>\u003C/p>\u003Ch2>Avoid Pitfalls That Can Undermine Financial Stability \u003C/h2>\u003Cp>\u003Cspan>Some underestimate the time and discipline it takes to build a substantial retirement fund. Ensure you don’t make this mistake because the later you start your retirement planning, the more aggressive your savings must be. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You should also factor in inflation while deciding the retirement fund you want to build, as it will help you achieve inflation-beating returns for an economically secure future. Another common mistake is assuming their pension income alone can cover all their retirement expenses. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While pension can become a reliable post-retirement income source, it shouldn’t become the ‘only’ source. Consider including plans like the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan\\\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N053V05) in your investment portfolio because it provides a regular income option to assist policyholders with their monthly expenses. \u003C/span>\u003C/p>\u003Ch2>Secure Your Retirement with Insurance\u003C/h2>\u003Cp>\u003Cspan>Anyone who wants a financially secure retirement should prioritise non-linked insurance products for their low-risk and steady growth benefits. Since their returns remain unaffected by market volatility or other external factors, they add financial predictability and stability to your golden years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>While numerous insurance options exist, you may explore term plans to generate income-replacing returns. Health insurance plans should also be prioritised as they can tackle the rising healthcare costs. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Annuity plans must become a core part of your retirement\u003Cstrong> \u003C/strong>investment portfolio to build guaranteed, lifelong post-retirement income streams. If you’re overwhelmed by the options, take personalised guidance from a certified financial expert. \u003C/span>\u003C/p>\u003Ch2>Conclusion \u003C/h2>\u003Cp>\u003Cspan>Achieving financial stability during retirement requires careful retirement planning, disciplined savings, and smart investment choices. These steps collectively create a financial safety net that ensures peace of mind, independence, and the freedom to live retirement years on your own terms. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>At Shriram Life Insurance, we provide various retirement plans designed to fulfil diverse retirement goals. You can \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/reach-us\\\">\u003Cspan>contact the Shriram Life Insurance team\u003C/span>\u003C/a>\u003Cspan> for assistance in choosing the right plan. \u003C/span>\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"How Can You Maximize Your Retirement Income Effectively?\",\"heading\":\"How Can You Maximize Your Retirement Income Effectively?\",\"short_description\":\"\u003Cp>Retirement is a time to enjoy the rewards of your hard work, but achieving true financial stability in your golden years requires careful planning \u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/how-can-you-maximize-your-retirement-income-effectively.webp?VersionId=d1Ih8si0ZYVPzpqKijK9TEA7eO4HVm.p\",\"alt\":\"How Can You Maximise Your Retirement Income Effectively?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-20T06:28:15\",\"updated_on\":\"2025-05-20T06:28:20\",\"read_more_title\":\"Know More\",\"slug\":\"/how-can-you-maximise-your-retirement-income-effectively\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/retirement\\\" hreflang=\\\"en\\\">Retirement\u003C/a>, \u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>\",\"description\":\"\u003Cp>Retirement is a time to enjoy the rewards of your hard work, but achieving true financial stability in your golden years requires careful planning and smart strategies. Maximising retirement income is not just about saving more—it's about making your money work harder, ensuring guaranteed payouts, and building a resilient financial plan that can weather life's uncertainties. \u003C/p>\u003Cp>Here’s how you can secure a comfortable, worry-free retirement.\u003C/p>\u003Ch2>\u003Cstrong>The Importance of Proactive Retirement Income Planning\u003C/strong>\u003C/h2>\u003Cp>Effective retirement income planning is the foundation of financial stability for retirees. By starting early and making informed decisions, you can ensure your savings last throughout your retirement. Proactive planning helps you:\u003C/p>\u003Cul>\u003Cli>Take advantage of compounding growth\u003C/li>\u003Cli>Minimise financial stress\u003C/li>\u003Cli>Prepare for unexpected expenses\u003C/li>\u003Cli>Enjoy greater flexibility and peace of mind\u003C/li>\u003C/ul>\u003Cp>\u003Ca href=\\\"http://shriramlife.com\\\">\u003Cspan>Shriram Life Insurance\u003C/span>\u003C/a> plans provide various solutions designed to help you maximise your retirement income and achieve lasting financial security.\u003C/p>\u003Ch2>\u003Cstrong>Building a Strong Retirement Portfolio with Diversified Investments\u003C/strong>\u003C/h2>\u003Cp>One of the most effective ways to maximise your retirement income is through diversified investments. Spreading your savings across different asset classes—such as bonds, mutual funds, and insurance products—reduces risk and increases the potential for steady returns. Low-risk options like the \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/saral-pension\\\">\u003Cspan>Shriram Life Saral Pension Plan\u003C/span>\u003C/a> (UIN: 128N092V01)\u003Cspan>\u003Cstrong> \u003C/strong>\u003C/span>provide consistent, lifelong income and act as a stable anchor in your portfolio.\u003C/p>\u003Cp>Some of the key benefits of diversification include\u003C/p>\u003Cul>\u003Cli>Reduces exposure to market volatility\u003C/li>\u003Cli>Balances growth and security\u003C/li>\u003Cli>Ensures multiple income streams\u003C/li>\u003C/ul>\u003Ch2>\u003Cstrong>Leveraging the Power of Annuities for Stable Income\u003C/strong>\u003C/h2>\u003Cp>Annuities are powerful tools for creating guaranteed payouts in retirement. By converting your savings into a regular income stream, annuities ensure you never outlive your money. The \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\\\">\u003Cspan>Shriram Life Immediate Annuity Plus Plan\u003C/span>\u003C/a> (UIN: 128N063V07\u003Cspan>)\u003C/span> is an excellent example, providing multiple payout options and the flexibility to choose how and when you receive your income.\u003C/p>\u003Cp>But, here is the question: Why should you consider annuities? \u003C/p>\u003Cp>Annuities \u003C/p>\u003Cul>\u003Cli>Provide predictable, lifelong income\u003C/li>\u003Cli>Protect against longevity risk\u003C/li>\u003Cli>Provide peace of mind with guaranteed payments\u003C/li>\u003C/ul>\u003Ch2>\u003Cstrong>Planning Early to Benefit from Compounding Growth\u003C/strong>\u003C/h2>\u003Cp>The earlier you start planning, the more you benefit from the power of compounding. Early planning benefits include higher returns, lower required monthly savings, and a larger retirement corpus. The \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan\\\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a> (UIN: 128N053V05)\u003Cspan> \u003C/span>encourages disciplined savings and provides guaranteed benefits, making it easier to build wealth over time. With flexible policy terms of 8, 10, 12, or 15 years and premium payment options ranging from monthly to annual, you can tailor this plan to your financial goals.\u003C/p>\u003Cp>Compounding interest means your returns generate their own returns, accelerating your savings growth year after year.\u003C/p>\u003Ch2>\u003Cstrong>Managing Expenses and Avoiding Financial Pitfalls\u003C/strong>\u003C/h2>\u003Cp>Smart retirement planning isn’t just about growing your income—it’s also about managing retirement expenses and avoiding common financial pitfalls. Create a realistic budget, avoid high-interest debt, and account for inflation to protect your nest egg. \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/early-cash-plan\\\">\u003Cspan>The Shriram Life Early Cash Plan\u003C/span>\u003C/a> (UIN: 128N093V03) provides liquidity, allowing you to access funds for emergencies or unexpected costs without derailing your long-term goals.\u003C/p>\u003Cp>Here are some additional tips for managing expenses:\u003C/p>\u003Cul>\u003Cli>Start by creating a monthly budget based on your expected income after retirement. For instance, if you expect to spend around ₹40,000 per month, be sure to factor in rising costs due to inflation, about 5% annually.\u003C/li>\u003Cli>Pay off any high-interest debt before retiring, like credit card balances or personal loans. This reduces financial stress and frees up more of your income for essential needs.\u003C/li>\u003Cli>Keep an emergency fund with at least six months' worth of expenses in a savings account. This gives you a cushion for unexpected costs like medical bills or urgent home repairs.\u003C/li>\u003Cli>Plan ahead for healthcare. Consider increasing your insurance coverage or setting aside funds specifically for medical needs.\u003C/li>\u003C/ul>\u003Cp>To add flexibility, consider a policy like the \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/early-cash-plan\\\" target=\\\"_blank\\\">Shriram Life Early Cash Plan\u003C/a> (UIN: 128N093V02). It provides periodic payouts, giving you access to funds when needed, without dipping into your long-term savings or disrupting your financial plan.\u003C/p>\u003Ch2>\u003Cstrong>Taking Advantage of Tax-Saving Opportunities\u003C/strong>\u003C/h2>\u003Cp>Tax-saving retirement strategies can significantly enhance your retirement income by reducing the taxes you pay on savings and withdrawals. The \u003Ca href=\\\"https://www.shriramlife.com/life-insurance/pension-plus\\\">\u003Cspan>Shriram Life Pension Plus Plan\u003C/span>\u003C/a> (UIN: 128L065V03) provides tax benefits under current laws and allows you to customise your investment strategy for maximum efficiency.\u003C/p>\u003Cp>Here is how tax planning helps you. It\u003C/p>\u003Cul>\u003Cli>Increases your net retirement income\u003C/li>\u003Cli>Allows more of your money to grow\u003C/li>\u003Cli>Provides flexibility in withdrawals and payouts\u003C/li>\u003C/ul>\u003Ch2>\u003Cstrong>Achieving Financial Security in Retirement\u003C/strong>\u003C/h2>\u003Cp>Maximising your retirement income is more than just saving—it involves making strategic choices that ensure financial security in retirement. By focusing on diversified investments, starting early, leveraging annuities, managing expenses, and using tax-saving strategies, you can build a robust plan for your future.\u003C/p>\u003Cp>Shriram Life Insurance’s retirement products provide comprehensive solutions tailored to your needs, helping you enjoy a stable, worry-free retirement.\u003C/p>\",\"category\":\"/blog/advice\"},{\"title\":\"How Do You Choose the Right Retirement Plan for Your Needs?\",\"heading\":\"How Do You Choose the Right Retirement Plan for Your Needs?\",\"short_description\":\"\u003Cp>\u003Cspan>The Indian market provides numerous Retirement Plans to help people achieve financial independence\u003Cstrong> \u003C/strong>for their golden years, b\u003C/span>\u003C/p>\",\"tile_image\":[{\"media_img\":{\"url\":\"https://cdn.shriramlife.com/slic-kalam/files/2025-05/how-do-you-choose-the-right-retirement-plan-for-your-needs.webp?VersionId=2CnZZm6jsH7ReYNt4hIRzBhv7VPONIzl\",\"alt\":\"How Do You Choose the Right Retirement Plan for Your Needs?\"},\"media_svg\":null,\"media_svg_alt\":\"\",\"media_document\":null}],\"posted_on\":\"2025-05-19T05:52:08\",\"updated_on\":\"2025-05-19T05:52:13\",\"read_more_title\":\"Know More\",\"slug\":\"/how-do-you-choose-the-right-retirement-plan-for-your-needs\",\"field_bl_tag\":\"\u003Ca href=\\\"/blog/guides/recent\\\" hreflang=\\\"en\\\">Recent\u003C/a>, \u003Ca href=\\\"/blog/guides/retirement\\\" hreflang=\\\"en\\\">Retirement\u003C/a>\",\"description\":\"\u003Cp>\u003Cspan>The Indian market provides numerous Retirement Plans to help people achieve financial independence\u003Cstrong> \u003C/strong>for their golden years, but not every product is a right match for your portfolio. Some plans are designed to provide a steady income post-retirement, while others are exclusively for wealth accumulation for golden years. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>You should always choose investment options that help you achieve your desired lifestyle and goals for a secure, worry-free, and comfortable retirement. You may explore Shriram Life Insurance’s retirement solutions if your primary goals revolve around financial security and stability. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>This blog discusses more about \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/retirement-plan\\\" target=\\\"_blank\\\">\u003Cspan>choosing retirement plans\u003C/span>\u003C/a>\u003Cspan> aligned with your needs so you accomplish all your retirement goals. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Define Your Aspirations for Financial Independence\u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Identifying clear aspirations should be your starting step during the retirement planning phase because it will help you choose the right investment plans. Decide whether you want a modest, need-based retirement or one filled with travel and leisure. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Additionally, factor in crucial aspects, such as medical costs, living expenses, inflation-adjusted expenses, emergency funds, etc., to determine the amount you’ll need to live your dream retirement life. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re looking for post-retirement income options to create a stable income flow during retirement, consider investing in \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/assured-income-plan\\\">\u003Cspan>Shriram Life Assured Income Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N053V05). It provides regular income options and combines the best features of Retirement, Child, and Savings Plans. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Assess Risk Preferences for Smarter Savings \u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Everyone should evaluate their risk tolerance before choosing retirement plans. Those with high-risk tolerance may invest in market-based plans like equities or mutual funds to earn higher returns over time. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>However, people with a low-risk profile desiring financial stability and predictability in retirement should opt for safer options, such as non-linked Life Insurance-backed plans. This approach will help you prevent financial distress during economic downturns, depleting your retirement savings. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/early-cash-plan\\\">\u003Cspan>Shriram Life Early Cash Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N093V02) is one of the best low-risk plans that preserve your capital investment and provide steady growth through the power of compounding and cash bonus guarantee, so consider exploring it for a secure retirement. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Maximise Benefits with Tax-Saving Retirement Plans\u003C/strong> \u003C/h2>\u003Cp>\u003Cspan>One of the smartest ways to maximise your savings is investing in plans that qualify for tax benefits u/s 80C, 80CCC, 10 (10A), etc.\u003C/span>\u003C/p>\u003Cp>\u003Cspan>For instance, if you include the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/pension-plus\\\">\u003Cspan>Shriram Life Pension Plus\u003C/span>\u003C/a>\u003Cspan> plan (UIN: 128L065V03) in your retirement portfolio, you can claim the premium payments as standard deductions u/s 80C while filing Income Tax Returns (ITR) to lower your taxable income and tax liability. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>Maturity proceeds can be partially or fully tax-exempt u/s 10(10A), subject to certain conditions. We recommend evaluating the tax benefits of pension plans and other options to make strategic choices. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Embrace Flexibility to Meet Changing Needs\u003C/strong> \u003C/h2>\u003Cp>\u003Cspan>Retirement may not always go as planned; hence, always choose investments with flexible features. Rigid policies may cover today’s goals but may not accommodate evolving family needs, healthcare emergencies, or desires to pursue a hobby or travel the world. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>If you’re exploring flexible options, you may check the \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/saral-pension\\\">\u003Cspan>Shriram Life Saral Pension Plan\u003C/span>\u003C/a>\u003Cspan> (UIN: 128N092V01). Besides providing two annuity options, lifelong annuity payment, inbuilt critical cover, it lets policyholders take policy loans to cover unexpected financial needs. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Secure Instant Income After Retirement \u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Since retirement marks the end of a predictable, stable salary income, you must invest in plans that generate substantial income to maintain your lifestyle during the golden years. Look for post-retirement income options, such as annuity plans, that provide immediate financial support. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>The\u003Cstrong> \u003C/strong>\u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/immediate-annuity-plus\\\">\u003Cspan>Shriram Life Immediate Annuity Plus Plan\u003C/span>\u003C/a>\u003Cspan> (UIN:128N063V07) is one of the best annuity plans for retirement as it provides immediate annuity plus insurance. You can use it to enjoy regular savings and tax benefits while receiving a steady flow of income for post-retirement stability. \u003C/span>\u003C/p>\u003Ch2>\u003Cstrong>Conclusion\u003C/strong>\u003C/h2>\u003Cp>\u003Cspan>Investing in any financial product isn’t enough to achieve financial independence\u003Cstrong> \u003C/strong>and stability during retirement. You must invest in plans that match your risk profile and help you achieve the desired economic goals in a realistic time frame. If you’re overwhelmed with the available options, consider evaluating them using the discussed tips. \u003C/span>\u003C/p>\u003Cp>\u003Cspan>It will help you find the right retirement plan. At Shriram Life Insurance, we provide various plans, including \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/child-plan\\\" target=\\\"_blank\\\">\u003Cspan>Child Plans\u003C/span>\u003C/a>\u003Cspan>, Retirement Plans, \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/life-insurance/protection-plan\\\" target=\\\"_blank\\\">\u003Cspan>Protection Plans\u003C/span>\u003C/a>\u003Cspan> to help people achieve diverse financial goals. You can \u003C/span>\u003Ca href=\\\"https://www.shriramlife.com/reach-us\\\">\u003Cspan>contact the Shriram Life Insurance team\u003C/span>\u003C/a>\u003Cspan> to get assistance with choosing the right plan for your needs. 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