Which is the best ULIP Plan or Unit Linked Insurance Plan?

Consumer VOICE experts compared 9 different ULIP plans available in the market on the basis of 12 parameters that included entry and maturity age , premium, fund options, maximum sum assured along with other parameters to list the best ULIP Plan. Consumers can check Consumer VOICE recommendations before investing in ULIP insurance.


A Unit Linked Insurance Plan, or ULIP, is a market-linked insurance product that seeks to aggregate investment and insurance options optimally. This product is linked to the capital market and offers flexibility (such as providing risk cover for the policyholder) along with options to invest in any number of stocks, bonds or mutual funds (indicated in units), as per the risk-taking ability of the investor/insured. Thus, a young individual with high risk tolerance can opt for a high-risk, high-return strategy of investing primarily in equities. Alternately, one can opt for a combination of equity, debt and money market investments to get high returns with minimal risks. Overall, this product sure opens up interesting options for investors, though it goes without saying that they should also make it a point to be aware of the varying charges and cost structures involved.


  • HDFC Life Insurance
  • Bajaj Allianz Life Insurance
  • ICICI Prudential Life Insurance
  • Life insurance corporation of India (LIC)


  • SUD Life Insurance
  • SBI Life Insurance
  • Max Life Insurance
  • PNB Metlife Insurance
  • Aegon Life Insurance



  • Minimum and maximum Entry age
  • Minimum and maximum premium
  • Maximum sum assured
  • Maximum maturity age
  • Minimum and maximum policy term
  • No. of fund options



  • Premium allocation charge per annum
  • POlicy administration charge per month
  • Fund management charge
  • Rider benefit
  • Premium payment mode
  • Customer feedback


Consumer VOICE Recommendations




HDFC Life Insurance (ProGrowth Plus)

Bajaj Allianz Life Insurance (Future Gain)

ICICI Prudential Life Insurance (Life Time Classic)

Comparative Chart

a) Information given here has been sourced from the brands’ websites and brochures.
b) NS – not specified
c) * Premium allocation charge is taken as maximum amount charged for a slab of 1–5 policy years
d) We have taken up for study only those policies that have entry age up to 45 years
e) Y – yearly, HY – half-yearly, Q – quarterly, M – monthly, S – single