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Insurance and Investment in one plan.

A plan that works like a term plan, and Earns like ULIP Plan

In ULIP, the investment risk in the investment portfolio is borne by the policyholder.The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender /withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year from inception.Read More

ULIP Plan - Unit Linked Insurance Plans

A Unit-Linked Insurance Plan (ULIP) merges wealth creation with life insurance cover in a single policy. Part of your premium secures protection while the remainder goes directly into market-linked funds chosen for your ambitions. You can target growth through equity or debt funds since a ULIP is a good investment for building your wealth.

3% Yearly Addition^V
Free fund switches/year²
Partial Withdrawal¹
Multiple Plan Options

Life Cover
Wealth Creation

Buy ULIP

T&C, KLI/25-26/E-WEB/2496

One smart move.

Wealth + protection for life.

₹46,800

Estimated yearly tax savings^*
100%

Premium allocation benefit

How much can you invest?

₹

/month

Talk to an Advisor

T&C, KLI/25-26/E-WEB/2496

Kotak Life – 25+ years of trust, 98.61% claim settlement

5 crore^∞

Happy Lives Secured

372^*

Branches as on of 31st March 2026

Zero

LTCG tax^α

ULIP Plans Designed for Different Life Goals

ULIP For
Wealth Creation
ULIP for
Child’s Future
ULIP for
Confident Retirement
ULIP for
Higher Protection

Young professionals & investors

Kotak e-Invest Plus - Maximiser

Put your money to work. Every rupee of your premium is invested from day one, growing across market-linked funds with life cover and your mortality charges added back at maturity.

Key Highlights:

Life Cover : Full protection for your family throughout the term
Mortality Charge Return : Up to 200% back Added to your fund on survival till maturity
Yearly Additions : 3% every year Of annual premium, added from end of year 6 onwards
Policy Term : 10 / 12 / 15 / 20 yrs Entry age 3–55 years

Secure This Plan

Features

Every rupee you pay works for you 100% premium allocation, zero waste

What Makes It Work For You

9 fund options from aggressive equity to secure money market match your risk appetite
Self-managed or age-based strategy let the plan rebalance itself as you age
Partial withdrawals from year 6 for planned or emergency expenses (first 4 free)
Settlement option at maturity choose lump sum or spread payouts over 5 years

Start Growing My Wealth

New parents & married couples

Kotak e-Invest Plus - Rising Star

Your child's goals don't wait and neither should their plan. Rising Star ensures the policy continues and the corpus keeps growing even if you're no longer around, with three layers of protection built in from day one

Key Highlights:

Lump Sum Payout : One-time money, instantly on parent's death.
Monthly Income : Regular income keeps coming to your child, uninterrupted.
Premium Waiver : Policy runs on its own, no more payments needed.

Secure This Plan

Features

Your child's future stays on track with Triple Protection Benefit

What Makes It Work For You

9 fund options : from aggressive equity to secure money market match your risk appetite
Self-managed or age-based strategy : let the plan rebalance itself as you age
Partial withdrawals from year 6 for planned or emergency expenses (first 4 free)
Auto capital protection : funds shift to Money Market in the final 12 months
Life Cover : Full protection for your family throughout the term
Yearly Additions : 3% every year Of annual premium, added from end of year 6 onwards

Secure My Child's Future

Ideal for those who are planning ahead for a secure retirement

Kotak e-Invest Plus - Retire Rich

Retirement isn't the end of your income, it's the beginning of a new kind. Retire Rich gives you market-linked growth during your working years and a flexible income stream after 60, with life cover that stays with you all the way to age 99.

Key Highlights:

Retirement income : 1%–12% of fund value/year
Income booster : +0.5% p.a. added every year
Cover till age 99 : Protection through retirement after age 60

Secure This Plan

Features

Earn up to 12% of your fund value annually steady Retirement Income, every single year

What Makes It Work For You

9 fund options : from aggressive equity to secure money market match your risk appetite
Self-managed or age-based strategy : let the plan rebalance itself as you age
Settlement option at maturity : choose lump sum or spread payouts over 5 years
Life Cover : Full protection for your family throughout the term
Yearly Additions : 3% every year Of annual premium, added from end of year 6 onwards

Plan My Retirement

Ideal for those who wants higher life cover and highest returns

Kotak T.U.L.I.P

Gives you Higher life cover minimum, higher returns, and even your premium allocation charges come back to you doubled. This isn't just a plan, it's a wealth machine with a safety net.

Key Highlights:

2X return of premium allocation charge : Your charges come back doubled
Up to 3x Return of Mortality Charges : Your life cover charges? Returned up to 3X
High Sum Assured multiple : Higher cover. Stronger protection for your family.

Secure This Plan

Features

Pay today. Get back double 2X Return of Premium Allocation Charges

What Makes It Work For You

Option to choose a High Sum Assured multiple to offer significant life cover.
2X Return of Premium Allocation Charges from end of 10 policy year onwards.
Up to 3X Return of Mortality Charges on survival starting from 11 policy year onwards.
Flexibility to pay premium for limited duration or throughout the policy term.

Get Cover + Growth

What is a ULIP?

ULIP stands for Unit Linked Insurance Plan. Most financial products make you choose between growing your money and protecting your family. A ULIP is designed to do both. Under a ULIP, your entire premium is allocated to funds of your choice equity, debt, or a balanced mix while a built‑in life cover provides financial protection at the same time. Over the years, this investment component helps your corpus grow, and at maturity, you receive the full fund value. In the event of the life insured’s death during the policy term, the nominee receives the highest of the Sum Assured, the Fund Value, or 105% of the total premiums paid, ensuring strong financial protection.

How Does a ULIP Work?

A ULIP (Unit Linked Insurance Plan) combines life insurance with market investment in a single contract. When you pay a premium, one fraction secures your life cover, while the remaining capital purchases units in equity, debt, or balanced funds based on your preference. Your fund manager guides these decisions, but the investment value grows directly with market performance. You retain the freedom to switch funds as your risk appetite shifts. Upon maturity or in the unfortunate event of death, you or your nominee receives the fund value or the sum assured, whichever is higher.

Premium Allocation: Insurance vs Investment

Your entire ULIP premium is not invested in the market. The insurer first deducts relevant charges, including the mortality charge for providing life insurance cover. The remaining amount gets allocated to your chosen funds.

The allocation may be understood in simple terms:

One part supports the cost of life insurance cover
One part covers policy administration and fund management charges
The rest buys units in the selected investment funds

The actual amount allocation varies by product, premium amount, age of the life assured, sum assured, and the insurer’s charge structure. For instance, a 30-year-old policyholder who chooses a moderate sum assured may have lower mortality charges than a 50-year-old policyholder choosing the same cover. The cost of insurance rises with age because the insurer takes on a higher mortality risk.

Fund Options

ULIPs usually offer multiple fund choices. This gives you control over how your investment is spread across market-linked assets.

Equity funds invest mainly in shares of listed companies. They can offer higher long-term growth potential, but their value can fluctuate significantly in the short term. These funds may suit investors with a long horizon and the ability to stay invested through market falls.
Debt funds invest in instruments such as government securities, corporate bonds, money-market instruments, and other fixed-income assets. They usually experience lower volatility than equity funds, though they are not entirely risk-free.
Hybrid or balanced funds invest in a mix of equity and debt. They may suit policyholders who want growth potential but do not want their entire corpus exposed to equity market volatility.

Understanding How ULIP Policy Works

Let us consider an example scenario of Sunita, a 30-year-old architect, investing in a ULIP Plan to align with her long-term goals. She commits to a policy term of 20 years with a dynamic fund strategy (Equity + Debt).

Policy Details

Initial Sum Assured:

₹60,00,000
(Life Cover selected by Sunita)
Annual Premium:

₹60,00,000
(Assuming 10x cover ratio)
Annual Charges
(Admin + Others):

₹12,000
Net Annual Investment

₹5,88,000
Initial NAV

₹10
Units Purchased Per Year

₹5,88,000 ÷ ₹10 = 58,800 units

Death Benefit(If Sunita passes away at 40)

Her nominee receives the higher of:
Sum Assured: ₹60,00,000
Fund Value = NAV at that time × Total Units

If NAV = ₹25
Fund Value = 25 × 5,88,000 = ₹1,47,00,000
Payout: ₹1,47,00,000

Example

Maturity Benefit(Sunita completes 20 years)

Sunita receives the full fund value at maturity to fund her retirement goals and her daughter's education.

If NAV at maturity = ₹50
Fund Value = 50 × Total Accumulated Units
Payout: Market Linked Fund Value

Example

Our Top Selling ULIP Plans from Kotak Life Insurance

Kotak Life offers several ULIP schemes that meet your requirements. You can understand the benefits, features, and investment strategies associated with these ULIP plans. The following are our top recommendations.

Kotak E-Invest Plus

Return of Mortality Charges
Enhanced Protection with riders
Multiple Plan Options
Zero Premium Allocation Charges
Tax Savings$

Check Returns

Best for Families

Kotak T.U.L.I.P

High Sum assured multiple for higher life cover
2X return of premium allocation charges
3X return of mortality charges
Loyalty additions
Flexibility to choose a short or long premium payment term
Multiple investment strategies

Invest in T.U.L.I.P

Trusted Plan

Offline Insurance Plans from Kotak Life Insurance

Kotak Invest Maxima
Kotak Single Invest Advance Plan
Kotak Platinum
Kotak Wealth Optima Plan

Kotak Invest Maxima

Zero premium allocation charges
Choice of portfolio strategies and fund types
A variety of policy terms and premium payment terms are available.
Partial withdrawals
Rewards on long-term investment

Know more

Kotak Single Invest Advance Plan

One-time investment
Choice of 3 investment strategies
Loyalty Additions to give a boost to your wealth

Know more

Kotak Platinum

Choice of three fund-management strategies
Survival units to enhance your fund value
Limited premium payment term

Know more

Kotak Wealth Optima Plan

Choice of two investment strategies
Options to be covered till 99 years
Enhances fund growth through Yearly Additions post Lock-in period
Boosts long term savings through Wealth Boosters

Know more

Offline Insurance Plans from Kotak Life Insurance

Kotak Invest Maxima

Zero premium allocation charges
Choice of portfolio strategies and fund types
A variety of policy terms and premium payment terms are available.
Partial withdrawals
Rewards on long-term investment

Know more

Kotak Single Invest Advantage Plan

One-time investment
Choice of 3 investment strategies
Loyalty Additions to give a boost to your wealth

Know more

Kotak Platinum

Choice of three fund-management strategies
Survival units to enhance your fund value
Limited premium payment term

Know more

Kotak Wealth Optima Plan

Choice of two investment strategies
Options to be covered till 99 years
Enhances fund growth through Yearly Additions post Lock-in period
Boosts long-term savings through Wealth Boosters

Know more

Kotak e-Invest Plus vs Kotak T.U.L.I.P

Parameter	Kotak e-Invest Plus	Kotak T.U.L.I.P
Who it suits	Someone who wants to grow money over 10 to 20 years, with an option to plan for a child or for retirement income	Someone who wants a large life cover plus long-term growth over 30 to 40 years
Plan options	Three: Maximizer, Rising Star, Retire Rich	One plan, with an option to choose a higher sum assured multiple
Entry age	Maximizer: 3 to 55 years Rising Star: 18 to 45 years Retire Rich: 3 to 50 years	18 to 60 years
Maturity age	Maximizer: 18 to 75 years Rising Star: 28 to 60 years Retire Rich: fixed at 99 years	48 to 100 years
Policy term	10, 12, 15 or 20 years. Retire Rich runs till age 99	30 to 40 years
Premium payment term	Regular pay, or limited pay of 5, 7 or 10 years. Premium payment term - Retire Rich: 10 to 60 minus Age at Entry of Life Insured	Regular pay, or limited pay of 6, 7, 8, 9, 10, 12 or 15 years
Minimum premium	₹9,000 a year, or ₹750 a month	₹1,00,000 a year on annual mode, ₹1,20,000 a year on other modes
Life cover	10 times the annual premium	Minimum 7 times the annual premium, with no upper limit subject to underwriting
Premium allocation charge	Nil. Your full premium is invested from day one	12% in year 1, 6% in year 2, 3% in years 3 and 4, nil from year 5. Twice this amount is added back to your fund from the end of year 10
Policy administration charge	₹400 a year	Nil for the first 4 years, then ₹500 a month
Extra additions to your fund	3% of annual premium added every year from the end of year 6. Plus 25% to 200% of life cover charges returned at maturity (not available under Rising Star)	Loyalty addition of 14% to 30% of your average fund value at maturity, based on your term. Plus 1X to 3X of life cover charges returned from year 11
Fund choices	8 funds, from equity to money market	9 funds, from equity to money market
Investment strategies	Self managed or age based	Self managed or age based
Fund switches	12 free switches a year, ₹250 after that	12 free switches a year, ₹250 after that
Partial withdrawal	Allowed after 5 years. Minimum ₹5,000. First 4 withdrawals a year are free	Allowed after 5 years. Minimum ₹10,000. First 12 withdrawals a year are free
Top-up premium	Not offered	Minimum ₹10,000. Not allowed in the last 5 years of the term
Riders	Not offered	Accidental Death Protection Rider and Critical Illness Benefit Rider covering 37 illnesses
Retirement income	Yes, under Retire Rich you can draw 1% to 12% of your fund value after age 60, with a 0.5% yearly income booster	Not offered
Lock-in	5 years	5 years

FAQs

ULIP Basics
Premium, Charges & Taxation
Investment & Returns
Withdrawal, Lock-in & Taxation

Which is the best ULIP?

The best ULIP is the one that fits your life. It must align with your personal goals, your tolerance for risk, and your budget. To find it, you need to look closer. Judge the fund's performance. Scrutinize the charges. Test the plan's flexibility. When you compare plans this way, the right choice becomes clear.

Are Unit Linked Insurance Plans a good investment?

A ULIP is a strong choice for those who want insurance and investment returns in a single package. You get the freedom to choose funds that match your risk appetite. This lets you build a portfolio for long-term wealth and protection.

Are ULIPs suitable for the long term?

ULIPs are designed for the long haul. They come with a mandatory 5-year lock-in period. The real power, however, comes from staying invested much longer. Compounding needs time to build momentum. A long investment horizon is what unleashes its full wealth-creating potential.

How is ULIP different from traditional plans?

There are several differences between ULIPs and traditional individual life insurance savings plan. Here’s how they differ:

Components of insurance and investment
Clearness and flexibility
Market-linked returns
Fees and charges The choice between them depends entirely on your own financial goals and preferences.

What is the advantage of ULIP?

ULIPs offer key advantages for anyone seeking both insurance and investment growth:

Dual Benefit
Flexibility
Tax benefits
Long-term creation of wealth
Partial withdrawals
Transparency

What is the difference between a ULIP & SIP?

A ULIP is a hybrid. It offers you both life insurance and an investment component in one plan. A SIP, however, is a pure investment tool for putting money into mutual funds. While a SIP is great for investing, it offers no life insurance. That is the key difference.

Can I switch between different funds in ULIPs?

Yes, ULIPs allow you to switch funds. You are free to diversify your money depending on the type of investment you want to make and how much risk you want to take. The insurance company provides most policyholders with the option to change their investments among the numerous funds it provides. Please check the terms and conditions in the product brochure thoroughly before buying as policy.

What happens if I stop paying my ULIP premium?

In case you withdraw your ULIP premium payment in the 5-year lock-in period, your policy will be transferred to a discontinued fund, where it will yield little returns until the time of withdrawal after the five years. At the end of the lock-in period, you can then give up or exchange it to become a paid-up policy of reduced benefits. Please check the terms and conditions in the product brochure thoroughly before buying as policy.

Does ULIP provide a death benefit?

Surely, ULIP can give you a death benefit, which would take care of your family in your demise. People can receive just the portion of the fund value or the sum assured in the event of the death of the life insured. Additional riders are also provided in some of the plans. Please check the terms and conditions in the product brochure thoroughly before buying as policy.

10.

Can I add riders to my ULIP plan?

Yes, under the ULIP Plans offered by Kotak Life, you can extend your coverage by including various riders like accidental death benefit, critical illness, or waiver of premium to provide an additional level of financial safety on top of the original plan itself. Please check the terms and conditions in the product brochure thoroughly before buying as policy.

11.

What happens if I surrender my ULIP before the lock-in period?

Surrendering a ULIP before the 5-year lock-in period leads to fund transfer into a discontinued policy fund, subject to charges. The amount is accessible only after the completion of five years. Post lock-in, surrendering gives you the fund value minus applicable charges. Please check the terms and conditions in the product brochure thoroughly before buying as policy.

12.

How do I choose the best ULIP plan for my needs?

To select the best ULIP plan, consider:

Investment Goals: Your goal might be wealth creation, retirement, or a child's education.
Risk Appetite: You must choose the right mix of equity, debt, or balanced funds.
Policy Term & Premium Payment: Pick a tenure and payment method that truly fits your financial plan.
Charges & Benefits: Compare all features, including zero allocation charges and tax benefits.

13.

Can I buy a ULIP plan online?

Yes, you can. It can be easily done online via Kotak Life's web portal. You will need to compare plans, calculate your premium, and enter your details. Then you can choose a fund strategy, do your KYC, and make the payment from home. Please check the term and conditions in the product brochure thoroughly before buying as policy.

14.

Is it safe to invest in ULIPs?

Yes, ULIPs come under the watch of IRDAI, hence transparency and protection of the investor are guaranteed. They provide you with a combination of market-linked returns and life insurance, and you can both grow wealth and ensure your financial future. There is also the flexibility of fund switching that assists in the management of risk.

What are the charges in ULIP?

ULIPs have various charges. The most common ones include:

Premium allocation charges
Policy administration charges
Mortality charges
Fund management charges
Partial withdrawal charges
Miscellaneous charges
Discontinuance charges

It is important to carefully review the policy brochure to understand the specific charges applicable to your ULIP plan, as they can vary between insurance providers and policies. Please check the terms and conditions in the product brochure thoroughly before buying as policy.

What is the minimum premium amount for ULIP?

The minimum premium of a ULIP varies with the insurance company and the product that one has. There will also be differences in the premium payments made in different ULIP plans. Please check the terms and conditions in the product brochure thoroughly before buying as policy.

Can I increase or decrease my premium in ULIP?

Most ULIP plans allow you to increase your premium by making top-up investments. This helps improve your fund value and also offers tax benefits. But in most cases, a reduction in the premium is normally not possible because the policy must have a minimum fund value to remain operational. Please check the terms and conditions in the product brochure thoroughly before buying as policy.

What are the tax benefits of ULIP premiums?

The premiums paid towards ULIPs can be claimed against an individual under Section 123 read with Schedule XV of the Income Tax Act,2025 where a deduction limit is possible up to ₹1.5 lakhs every year. Also, the proceeds of maturity are tax-free under Section 11 read with Schedule II(2) of the Income Tax Act, 2025 under the rules of limitation of the premium-to-sum assured ratio.

Is interest in ULIP taxable?

ULIP returns are not classified as "interest" but rather market-linked gains. If the annual premium exceeds ₹2.5 lakh, gains from ULIPs are taxed as capital gains. However, if the premium is below this threshold, maturity benefits remain tax-free under Section 11 read with Schedule II(2) of the Income Tax Act, 2025.

What are the different types of charges in a ULIP?

ULIPs have various charges, including:

Premium Allocation Charge: A deduction taken from your premium upfront.
Fund Management Charge: The percentage fee for managing your investments.
Mortality Charge: The specific cost to cover your life insurance.
Policy Administration Charge: A fee that covers the insurer's administrative expenses.
Surrender/Discontinuance Charge: A penalty applied if you exit before the lock-in period ends.

Please check the term and conditions in the product brochure thoroughly before buying as policy.

Does ULIP have hidden charges?

No, ULIPs are transparent, and all charges are disclosed upfront in the policy document / brochure. However, investors should review the charge structure to understand deductions and fund value impact over time. Please check the term and conditions in the product brochure thoroughly before buying as policy.

Are there any additional fees for switching funds?

Most ULIPs allow a certain number of free switches per year. Beyond this limit, a nominal charge (typically ₹100-₹500 per switch) may apply. Under certain plans, Kotak Life’s ULIPs offer free fund switches up to 12 times per year to help manage investments efficiently. Please check the term and conditions in the product brochure thoroughly before buying as policy.

How does ULIP compare to mutual funds in terms of cost?

Though mutual funds are less expensive in terms of fund management charges, ULIP offers a two-fold advantage; that is, investment and life insurance. In addition to mortality and administration fees, ULIPs offer tax benefits, life cover, and long-term wealth creation, making them cost-effective for disciplined investors.

How is the fund value calculated in ULIP?

The NAV is prepared by determining the sum of net assets of the fund divided by the outstanding number of units. The fund value of your ULIP plan is determined by multiplying the number of units held in each fund by the respective NAV of those units.

What is the ULIP interest rate?

ULIP (Unit Linked Insurance Plan) combines life insurance with investment. The ULIPs do not guarantee a fixed rate of interest like that of fixed deposits or savings accounts. Rather than that, returns are subject to profits on selected investment funds, which are affected by the market conditions. The latter qualifies ULIP returns as market-linked and dynamic in nature.

How does market volatility impact ULIP returns?

As the ULIP plans are market-related, they deliver varying returns according to the market situation. The equity funds that are included in ULIPs are more volatile, but their debt funds are stable. Long-term investment in ULIPs, however, has the advantage of evening out market volatility and has the highest probability of growth.

Can I track my ULIP investments online?

Yes, Kotak Life offers an online portal and mobile application where you can track your fund performance, NAV (Net Asset Value), fund switch, and policy management in real time.

Does ULIP offer guaranteed returns?

No, ULIPs are not guaranteed to give returns, as it depend on the performance of the market. Nevertheless, the risk can be reduced by choosing balanced or debt funds and aiming at having a more stable growth for the investors.

What happens if my ULIP fund underperforms?

In case your selected ULIP fund does not perform, you can:

Change to funds that perform more favorably among those that are available.
Rebalance your portfolio based on market trends and risk appetite.
Ensure that you stay invested in it long-term because ULIPs are meant to create wealth in the long term.

Can I rebalance my portfolio in ULIP?

Yes, with ULIPs, you have the option of a fund switch where you can choose to invest in equity, debt and hybrid funds in accordance with the prevailing market conditions and your capability to take risks. Under certain plans, Kotak Life offers you up to 12 free switches in a year to help you optimize your portfolio. Please check the term and conditions in the product brochure thoroughly before buying as policy.

How can I maximize my ULIP returns?

In order to get the best out of ULIP:

Plan to invest long-term to take advantage of market cycles.
Opt for an aggressive fund allocation (equity) if you have a high-risk appetite.
Use fund switching wisely to capitalize on market trends.
Take advantage of top-up premiums to increase investments when markets are favorable.
Choose a ULIP with low charges to retain more of your investment.

Can I cancel/surrender my ULIP plan?

Yes, you can cancel or surrender a ULIP during the lock-in period. Surrendering a ULIP before the end of the lock-in period will attract charges along with penalties that will impact the surrender value very severely. You can surrender a ULIP after the completion of the lock-in period without paying any charges.

When can I withdraw ULIP?

ULIP plans allow taking back any amount from the plan after it has completed its lock-in period, which, in most cases, is for five years subsequent to the date of purchase. Once the lock-in period is over, you may partially withdraw or surrender the ULIP in full without any charges or penalties being levied on you.

What is the expiry date of the lock-in period?

Normally, ULIP plans come with a lock-in period of five years from the purchase date. Once the lock-in period expires, you are free to withdraw the amount partially or fully without any charges or penalty.

Can I take a loan against my ULIP policy?

Yes, a few ULIP plans allow the facility to take up a loan against the policy. However, such an option is subject to the discretion of the insurance companies and ULIP products. Normally, such loans can be available as a percentage of the ULIP fund value.

Is a ULIP taxable at maturity?

Proceeds received under the ULIP plan on maturity and accumulation of additional benefits are tax-free under Section 11 read with Schedule II(2) of the Income Tax Act, 2025, provided conditions under the Income Tax Act are satisfied. It is recommended that you get a tax consultant who will give you the details of taxation according to your case.

Are partial withdrawals allowed in ULIP?

Yes, there is a possibility of partial withdrawals following the lock-in period of 5 years. The majority of ULIPs offer withdrawal of up to a specified percentage of the policy value, which gives you liquidity without closing your policy.

What is the process to withdraw funds from a ULIP?

In case you want to take money out of your ULIP plan:

Check out the customer portal on the Kotak Life website or visit one of their branches.
Make a withdrawal request (online or offline).
Then, the amount requested shall be deposited into your bank account within a span of a few working days.

How does ULIP taxation work under the new tax regime?

In the new tax regime, premiums of more than ₹2.5 lakh paid to a ULIP in a year will attract capital gains tax on the money payable upon maturity. The lower premium policies, however, continue to be tax-free under Section 11 read with Schedule II(2) of the Income Tax Act, 2025. The death benefit, however, is not taxable, no matter how much the premium is.

Will I have to pay a penalty for early withdrawal?

The amount can only be accessed upon the end of your lock-in period, and they may also impose a partial withdrawal charge.

10.

Can I reinvest my ULIP maturity proceeds into another plan?

Yes, it is possible to reinvest your ULIP maturity value in a different ULIP or any other kind of investment plan so as to carry on with wealth creation and insurance benefits. Kotak Life has various options of ULIP that will help you in achieving various financial goals with the assurance that your money grows.

How to Manage/Switch ULIP Funds?

Your ULIP fund choice does not have to remain the same throughout the policy term. As your goal gets closer, or your financial situation changes, you can move your money between equity, debt, and hybrid funds through the fund-switching option.

For instance, equity funds may be suitable when retirement or a child’s education is still years away. But when the goal is only three to five years away, shifting a portion of the corpus to debt funds can help reduce the impact of sudden market swings. Many insurers allow policyholders to submit a switch request through their website, mobile app, customer portal, or branch.

You should avoid switching funds just because markets have had a rough week. Rather, you should review your ULIP once or twice a year and decide if the funds need to be switched. This is because a planned gradual shift usually works better in managing ULIPs.

Key Features of ULIP Plans

A ULIP is not like other insurance policies. A part of your premium is invested in market funds that you control. These are the plan's most important features:

Fund Switching

Markets are always changing. A ULIP gives you the power to adapt. If you feel the equity market is too risky, you can move your capital to the relative safety of debt funds. You can then switch back to capture growth when you see a better opportunity.

Premium Allocation

You have total control over your investment strategy. You can direct your money toward aggressive growth in equities. You can seek stability through debt funds. Or you can find a middle ground with balanced funds.

Premium Redirection

Premium redirection lets you redirect the current premiums towards the fund of your choice if you feel the current funds are not suitable for you. You can change the allocation of future premiums. It does not affect the units already invested in your current fund mix.

Say your current premium allocation is 70% equity fund and 30% debt fund. After a few years, you may decide that future premiums should go 50% into equity and 50% into debt. Premium redirection helps you make that change.

Partial Withdrawals

After the five-year lock-in, you can access your funds in an emergency. But be careful. Frequent withdrawals will damage your long-term growth. This option is a tool for true emergencies only.

Top-Up Premiums

A top-up premium lets you invest more in your existing unit linked health insurance plan. It is a simple and effective way to boost your capital without getting a new policy.

Tax Savings

The tax benefits are a major advantage. You get tax deductions on premiums under Section 123 read with Schedule XV of the Income Tax Act,2025. The final payout can also be completely tax-free under Section 11 read with Schedule II(2) of the Income Tax Act, 2025.

Diversify your investment portfolio with Kotak e-invest plus.
investment portfolio with
Kotak e-Invest Plus.

Get Started with ULIPs

Benefits of ULIP Plans

Securing your future requires a strong financial corpus. The benefits of ULIP plans are designed to help you build that foundation. These unit linked investment plans offer a structured path toward your financial goals.

Flexibility to Choose a Cover Amount

Unit Linked Insurance Policies give you the power to pick life insurance that fits your needs, often between 7 to 20 times your annual premium.

A yearly ₹1 lakh investment might open up a life cover between ₹7 lakh and ₹20 lakh. Selecting a ₹15 lakh cover ensures that your family receives that amount during a crisis. It is direct financial protection.

Flexibility to Choose the Type of Investment

A ULIP's best feature is your power to direct its investments. You get the control to shape the plan and align it with your personal financial strategy.

Wealth Boosters

The ULIP journey includes certain rewards called wealth boosters. The plan adds these extra units to your policy when you reach key milestones, such as staying invested for five years or more.

Maturity Benefit

Once your policy term concludes, you receive the accumulated fund value from your paid premiums and market-linked returns.

Tax Advantages

ULIPs provide valuable tax benefits at both the entry and exit stages of the investment.

Entry Advantage: Your premium payments can be claimed as a tax deduction under Section 123 read with Schedule XV of the Income Tax Act,2025.
Exit Advantage: The plan's maturity benefits may also be tax-exempt under Section 11 read with Schedule II(2) of the Income Tax Act, 2025, subject to conditions.

Such benefits are subject to market risks and changing tax laws. It is also advisable to consult a financial advisor to be on the safe side.

Loyalty Additions

Your policy gets extra units at set intervals through loyalty additions. Think of them as a direct reward for your long-term commitment. These additions boost your investment's growth potential.

Goal-Based Planning

ULIPs excel at goal-based investing. Use them for increasing personal wealth or for planning for your retirement. A ULIP for child education is also a powerful tool for funding future ambitions.

Dynamic Fund Allocation

You get the freedom to switch between an insurer's fund options. Moving your money between equity, debt, or balanced funds is simple. This process puts you in charge of managing market risks and returns.

Death Benefit

The plan includes a comprehensive death benefit for your family's security. Should an untimely event occur, your nominees get the proceeds based on the policy's terms.

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Advantages of ULIPs

Market-linked Wealth Creation: ULIPs allow you to invest in equity, debt, or hybrid funds through an insurance policy. Equity exposure can support long-term wealth creation, although it comes with market risk.
Life Insurance Cover: The policy includes a death benefit, offering a financial safety net for the nominee if the life assured dies during the policy term.
Fund-switching Flexibility: You can usually move between available funds without exiting the policy. This can help you adjust your portfolio as your goal gets closer or your risk appetite changes.
Disciplined Investing: Because ULIPs involve regular premium commitments and a 5-year lock-in, they can discourage impulsive withdrawals. For some investors, that structure is genuinely helpful.
Tax Efficiency: Premiums may qualify for deductions under Section 123 (previously known as Section 80C), subject to the prevailing tax regime, limits, and conditions. Maturity proceeds may also qualify for tax exemption under Schedule II(2) (previously known as Section 10(10D)), subject to eligibility rules.
Partial Liquidity After Lock-in: After completing the lock-in period, many ULIPs allow partial withdrawals. This can provide limited flexibility during the policy term.

Why do you Need ULIP Plans?

You need unit linked insurance plans if your goal involves securing family protection while leveraging market funds for wealth creation. If you aim to expand your portfolio, you must understand why the best ULIP plan in India stands out from the rest.

Dual Benefit of Life Insurance and Investment

A unit linked investment plan offers a unique advantage by allocating premiums towards life cover and market-linked funds simultaneously, ensuring your family stays protected while your wealth grows efficiently.

Flexibility in Investment Options

These plans allow you to switch between equity and debt funds based on your risk appetite, giving you the freedom to align your investment strategy with changing market conditions.

Transparency and Control

Investors enjoy complete visibility over their portfolio performance and charges, which empowers you to track your funds regularly and make informed decisions to keep your financial goals on track.

Tax Benefits

You can save tax on premiums up to ₹1.5 lakh under Section 123 read with Schedule XV of the Income Tax Act,2025. Favorable ULIP taxation ensures tax-free maturity, effectively boosting your ULIP returns in 10 years.

Long-term Wealth Creation

Staying invested allows the power of compounding to work effectively. This disciplined approach helps build a substantial corpus and improves your potential ULIP returns in 15 years for major goals.

Cost-effective Investment Option

Modern online plans have low fund management charges and zero allocation fees, making them an affordable choice that ensures more of your premium is invested directly for future growth.

Who Should Invest in a ULIP Plan?

A unit linked insurance plan is an incredibly versatile financial tool. It is powerful for many different investors with a wide range of goals.

Parents Saving for Their Child’s Future

A ULIP is a powerful way to fund a child’s future education. It provides a disciplined saving method combined with the security of life insurance.

Young Professionals Building Wealth

It is an ideal starting point for young professionals. You get market-linked growth potential and essential life insurance coverage in a single, manageable plan.

Retirees Seeking Stable Investments

For retirees, a ULIP can create a more stable income stream. Plans focused on debt funds provide an extra layer of stability after your working years are over.

High-Income Earners Saving on Taxes

A ULIP is a highly effective tool for high-income earners. It helps you save on taxes under Sections 123 read with Schedule XV of the Income Tax Act,2025 and Section 11 read with Schedule II(2) of the Income Tax Act, 2025 while building wealth.

Women Investors Seeking Growth

ULIPs are an empowering financial tool for women. You get security, tax savings, and real growth potential all in one package.

First-Time Investors Exploring ULIPs

For a first-time investor, this is a great way to enter the market. You get to learn about investing with the built-in safety of a life insurance backup.

Types of ULIP Plans in India

Not all ULIPs are built the same. Insurers designed them differently based on what the end user actually wants to achieve. Here are the various types of ULIPs available in India:

Wealth Creation ULIPs

Wealth creation ULIPs are designed for long-term investors who want to build a corpus for future goals. They may offer a broad range of equity, debt, and hybrid fund options.

These plans can suit someone saving for:

Long-term financial independence .
A second home after 121 to 15 years
A future business fund
A large family goal
Wealth transfer or legacy planning, where appropriate

Child Education ULIPs

Child ULIPs are built around education planning for your child. They commonly insure the parent or guardian while creating a corpus for the child. The standout feature in many child plans is a premium waiver benefit. If the insured parent passes away during the policy term, the insurer may waive future premiums and continue the policy for the child’s benefit, subject to the plan’s rules.

However, you should not assume every child ULIP has the same feature. Check whether the waiver is built into the plan or available through a rider. You should also verify how the death benefit is paid and whether the fund continues to participate in market movements.

Retirement ULIPs

Retirement ULIPs aim to help policyholders accumulate funds for their post-work years. They have a vesting age, retirement-oriented fund choices, or options to receive proceeds as a lump sum, regular income, or annuity, depending on the policy.

Retirement planning is a long game. A policy selected at age 35 may run for 25 years or more. That gives equity investments time to work, but it also means you should choose an insurer and product you are comfortable staying with for the long haul.

Capital Protection/Single Premium ULIPs

Capital-protection ULIPs aim to reduce downside risk, often through a specified investment strategy or portfolio structure. It is important to note that capital protection does not always mean that every rupee is guaranteed under every market condition and at every exit point.

Single-premium ULIPs allow you to invest a lump sum instead of paying regular premiums. They may suit investors who have received a large amount, such as a bonus, inheritance, sale proceeds, or retirement benefit, and want life insurance linked with market investment.

Best ULIP Plans in India 2026

The best ULIP plan is the one that matches your financial goal, investment horizon, risk appetite, premium-paying capacity, and life insurance requirement. A good ULIP should offer a suitable mix of equity, debt, and balanced funds, along with reasonable charges and flexible switching options. For a child’s education goal, a plan with premium-waiver support may be worth considering. For retirement or wealth creation, the best plan should focus on fund quality, policy term, and the ability to gradually lower risk as the goal gets closer.

How to Choose the Best ULIP Plans in India?

Finding the right ULIP plans in India 2026 involves a close look at your own financial needs, your tolerance for risk, and your long-term goals. A clear review of the ULIP advantages and disadvantages is what helps you find a plan that works for you.

Align with Long-Term Goals:
First, identify your long-term financial goals. A plan for retirement is very different from one for your child's education. The best ULIP plan in India for you will be one that matches your specific time horizon and purpose.
Evaluate Policy Charges:
There are ULIP charges levied like premium allocation, mortality, fund management, switching and administration fees. Seek out the plans that will guarantee you the best fee structures to increase your net returns.
Check Past Fund Performance:
Examine the performance history of the ULIP funds over the last three to five years. A consistent track record is a good sign of dependable fund management.
Assess Flexibility:
To buy the best ULIP, select policies that have flexible policy tenures, top-up features, and partial withdrawal options. These characteristics allow you to modify the plan as your financial situation changes.
Consider the Insurer's Credibility
An insurer's reputation is non-negotiable. You must find a company with a high solvency ratio, preferably 1.5 or more, and a strong history of settling claims.

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Riders Available with ULIP Plans

You may add optional riders to the base policy when buying a ULIP. These riders provide you with additional financial protection in relation to certain unplanned circumstances at a nominal extra premium, making your ULIP a much safer and tailored financial instrument. The following are some of the most standard riders available:

Accidental Death Cover Rider

This rider provides an additional lump sum to your nominee if death results from an accident. It adds an extra layer of financial protection beyond the base life cover.

Critical Illness Rider

If you are diagnosed with a serious illness, this rider pays a lump sum. You can use this fund for treatment or income replacement, allowing you to focus entirely on recovery.

Waiver of Premium Rider

If you suffer a disability or critical illness, this rider waives future premiums. Your policy stays active and your investment grows, ensuring your long-term financial goals remain secure.

Accidental Disability Rider

If an accident causes disability, this rider provides a payout to replace lost income. It helps cover living expenses, ensuring your lifestyle remains stable despite the physical setback.

Hospital Cash Rider

This rider provides a fixed daily cash allowance during hospitalization. It covers incidental expenses like travel or food, helping you manage out-of-pocket costs not covered by standard health insurance.

ULIP vs Other Investment Options

ULIPs have features that overlap with mutual funds, PPF, NPS, and fixed deposits. Yet each option serves a different purpose. Comparing them on only one factor, such as tax savings or returns, can lead to a poor decision. Let us compare ULIP against various other investment options:

ULIP vs Mutual Funds

Both ULIPs and mutual funds offer market-linked investing. Both may provide equity, debt, and hybrid fund choices. But their structures differ.

Feature	ULIP	Mutual Fund
Primary nature	Life insurance plus investment	Investment product
Life cover	Included	Not included
Lock-in	Generally 55 years	Depends on the scheme; most open-ended funds have no lock-in
Fund switching	Available within the policy, subject to plan terms	Requires redemption and fresh investment into another scheme
Tax benefit on premium	May qualify under Section 123 (previously known as Section 80C), subject to conditions	ELSS may qualify under Section 123 (previously known as Section 80C), subject to prevailing rules
Liquidity	Partial withdrawals generally after 55years	Usually high for open-ended funds, subject to exit load and settlement
Charges	Policy and fund-related charges may apply	Expense ratio, exit load where applicable
Best suited for	Long-term goal planning with life cover	Pure investment and portfolio building

ULIP vs PPF

The Public Provident Fund, or PPF, is a government-backed small-savings scheme with a long tenure and a fixed interest rate declared periodically. It is not market-linked.

Feature	ULIP	PPF
Return type	Market-linked, not guaranteed	Government-declared interest rate
Risk level	Depends on the chosen funds	Very low credit risk, subject to scheme rules
Life insurance	Included	Not included
Lock-in/tenure	5-year lock-in, policy term varies	15-year initial tenure, with extension options
Liquidity	Partial withdrawal after lock-in, as per plan	Partial withdrawal and loans subject to PPF rules
Tax treatment	Subject to ULIP tax conditions	Traditionally falls under EEE treatment, subject to prevailing tax law
Inflation-beating potential	Higher with equity exposure, but uncertain	May not always outpace inflation over long periods

ULIP vs NPS

The National Pension System, or NPS, is a retirement-focused investment product regulated by the Pension Fund Regulatory and Development Authority. It offers market-linked exposure to equity, corporate debt, and government securities, with specific withdrawal and annuity rules.

Feature	ULIP	NPS
Main purpose	Insurance plus long-term investment	Retirement corpus creation
Life cover	Included	Not generally included as a standard investment feature
Fund choices	Insurer-specific equity, debt, and hybrid funds	Equity, corporate debt, government securities, and alternative assets within the NPS rules
Liquidity	Partial withdrawals after 55 years, subject to policy terms	Restricted withdrawals, with retirement-focused rules
Tax deduction	May qualify under Section 123, subject to conditions	Tax benefits may be available under Section 124 and other provisions, subject to prevailing rules
Withdrawal structure	Maturity fund value paid as per plan	Withdrawal and annuity rules apply at exit
Suitable for	Long-term goals with life cover	Retirement-focused investors

ULIP vs Fixed Deposits

A fixed deposit offers a predetermined interest rate for a chosen tenure. It is simple, familiar, and relatively stable, but it may not provide the same long-term growth potential as equity-linked investments.

Feature	ULIP	Fixed Deposit
Returns	Market-linked and variable	Fixed at the time of booking
Capital volatility	Possible, especially with equity funds	Generally low if held with a sound bank or an eligible institution
Life cover	Included	Not included
Lock-in	5 years	Premature withdrawal usually possible with a penalty
Inflation protection	Potentially better with equity exposure	May struggle to beat inflation after tax
Taxation	Subject to ULIP tax rules	Interest is generally taxable as per the investor’s tax slab
Suitable for	Long-term goals and market participation	Short- to medium-term stability and predictable income

ULIPs vs Mutual Funds vs SIPs

ULIPs, mutual funds, and SIPs can all support long-term financial goals, but they differ in terms of life cover, liquidity, investment flexibility, and how you invest.

Feature	ULIP	Mutual Fund	SIP
Nature	Insurance and investment product	Standalone investment product	Regular investment method
Life insurance cover	Included	Not included	Not included
Investment options	Equity, debt, and hybrid funds offered by the insurer	Equity, debt, hybrid, index, and other scheme categories	Can be used to invest in eligible mutual fund schemes
Lock-in	Mandatory 5-year lock-in	Usually no lock-in; ELSS has a 3-year lock-in	Depends on the underlying mutual fund scheme
Investment Mode	Regular premium or single premium	Lump sum or regular investment	Fixed amount invested at regular intervals
Liquidity	Partial withdrawals generally allowed after 5 years, subject to policy terms	Redemption usually possible anytime in open-ended schemes, subject to exit load	Depends on the underlying scheme
Fund switching	Available within the ULIP, subject to policy terms	Requires redemption from one scheme and investment in another	SIP amount can be stopped, increased, reduced, or redirected
Charges	Mortality, fund management, administration, and other applicable charges	Expense ratio and, where applicable, exit load	No separate SIP charge; underlying fund costs apply
Tax treatment	Subject to Section 123 and Schedule II(2) conditions	Depends on fund type and prevailing tax rules	Tax treatment depends on the mutual fund scheme
Suitable for	Long-term investors who want life cover and investment in one plan	Investors seeking flexible, standalone market-linked investing	Investors who want to invest regularly without a large lump sum

How to Maximize ULIP Returns?

It is difficult to find a strategy that can guarantee ULIP returns because markets move unpredictably. Still, a few practical decisions can improve your chances of building a meaningful long-term corpus:

Start with a Long Horizon: ULIPs are not designed for quick gains. The longer you remain invested, the more time your money gets to recover from market corrections and benefit from compounding.
Choose the Fund Mix Based on the Goal: A 15-year retirement goal may support higher equity exposure than a goal due in 4 years. Your allocation should reflect both the timeline and your comfort with volatility.
Avoid Panic Switches: When equity markets fall, switching everything to debt may feel safe. But it can turn temporary paper losses into permanent losses.
Review the Portfolio Annually: A yearly review is usually enough for most policyholders. Check whether your equity-debt mix still fits the remaining term. Review more often only if your financial situation has changed significantly.
Pay Premiums on Time: Missing premiums can affect policy benefits, trigger policy lapse, or reduce the time your investment spends in the market. Set up an auto-debit mandate if that suits you.
Use Top-ups Carefully: A top-up can increase your corpus, but do not invest a large amount just because markets have risen or fallen. Align the decision with your asset allocation and goal requirements.
Keep Your Policy Active: Surrendering early can disrupt the investment plan and may leave you with a lower-than-expected value. Buy a ULIP only if you can realistically commit to the premium-paying term.

ULIP Charges Explained

A ULIP is both insurance and an investment. As with any financial product, certain charges apply that can impact your returns. Knowing these charges is a vital step for every investor.

Policy Administration Charges

Your insurer deducts standard fees to manage the policy. This covers paperwork, record-keeping, and service.

Fund Management Charges (FMC)

A small percentage of your fund value is charged for its professional management, whether in equity, debt, or balanced funds.

Premium Allocation Charges

A portion of your initial premiums covers costs like agent commissions and underwriting. The remainder of your money is invested.

Mortality Charges

This charge pays for the life insurance part of your policy. The cost depends on your age, health, and the cover you chose.

Switching Charges

You can move your investment between funds. You receive some free switches each year. A small fee applies if you exceed this limit.

Surrender Charges

Closing a ULIP within the five-year lock-in period results in a surrender charge penalty.

Partial Withdrawal Charges

You can withdraw money after five years. Some withdrawals are free, but charges may apply if you exceed the set limits.

Are ULIP Plans Taxable?

Unit-Linked Insurance Plans (ULIPs) were previously tax-free under the EEE (Exempt-Exempt-Exempt) status, meaning that the growth, investment, and maturity proceeds were not subject to tax. However, the 2021 Union Budget introduced a change: if the annual premium exceeds ₹2.5 lakh, the maturity proceeds are no longer automatically tax-free. This brings ULIPs in line with other market investments, such as equity-oriented mutual funds.

Despite this change, the death benefit of a ULIP remains completely tax-free, regardless of the premium amount. For maturity proceeds, amounts exceeding ₹2.5 lakh are now subject to tax and treated as capital gains.

Type of Gain	Holding Period	Applicable Tax Rate
Long-Term Capital Gains (LTCG)	More than 12 months	10% on gains exceeding ₹1 lakh

Type of Gain	Holding Period	Applicable Tax Rate
Long Term Capital Gains (LTCG)	More than 12 months	12.5% of gains exceeding ₹1.25Lakhs

Now, we will examine the real life operation of these tax rules.

Investor	Annual Premium Paid	Maturity Proceeds (After 10 Years)	Taxability	Taxable Gain
Mr. Aaksh	₹1,50,000	₹30,00,000	The premium is below ₹2.5 lakh, so all of his maturity proceeds are tax-free.	₹0 (No tax)
Mr. Vinod	₹3,00,000	₹48,00,000	The premium exceeds ₹2.5 lakh, so his maturity proceeds are subject to tax.	₹48,00,000 (Maturity Proceeds) - ₹30,00,000 (Total Premium Paid) = ₹18,00,000

How to Claim Tax Benefits on ULIP plans?

With ULIP unit linked insurance plans, you get an opportunity to increase your wealth as well as have cover against financial shocks. Naturally, the tax advantages are one of the greatest motivators to enter any ULIP plan.

Deduction Under Section 123 read with Schedule XV of the Income Tax Act,2025

Premiums paid towards ULIP plans qualify for tax deductions under Section 123 read with Schedule XV of the Income Tax Act,2025. As per current tax laws, you can claim up to ₹1.5 lakh in a financial year. It should be noted that only the premium faces this deduction, and not the total amount invested in the ULIP.

Tax-Exempt Maturity

Most significantly, proceeds in case of a maturity and investment income are tax-free under Section 11 read with Schedule II(2) of the Income Tax Act, 2025, but this is dependent on terms and conditions under the Income Tax Act. To avail this benefit, the annual premium should not exceed 10% of the sum assured, and the annual aggregate premium should be up to ₹2.50 lakhs.

Switching of Funds

This switching flexibility in ULIPs also allows an investor to switch between two or more funds depending on the market situations or investment preferences. The best part, of course, is that such switches are tax-exempt. You can optimize your investment by taking benefit of market movements without incurring any tax consequences.

Partial Withdrawals

The policyholder, under the ULIP policy, is permitted to withdraw a part of the investment under specific terms and conditions. Although ULIPs allow partial withdrawal, the amount withdrawn is tax-exempt under Section 11 read with Schedule II(2) of the Income Tax Act, 2025, subject to conditions specified under the Income Tax Act.

Continuity of Tax Benefits

It is very important to maintain the policy for a minimum period to avail of the tax benefits. Tax benefits availed during the policy period will be added back to taxable income if the policy is discontinued within five years from the date of commencement.

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ULIP vs Other 123 read with Schedule XV of the Income Tax Act,2025 Tax-Saving Options

Section 123 read with Schedule XV of the Income Tax Act,2025 offers multiple avenues to save tax, yet each yields different results. Comparing Unit Linked Insurance Plans against ELSS or PPF clarifies which instrument fits your rhythm. This understanding helps you build a portfolio effectively tailored to your specific goals.

Here is an analysis of distinct investment types to guide your decision:

Feature	ULIP	ELSS	PPF	NSC
Purpose	Combines life protection with wealth creation	Pure equity investment for capital growth	Government-backed retirement savings	Secure fixed-income instrument
Lock-in Period	Five years	Three years	15 years	Five years
Risk level	Moderate to High (Choice dependent)	High (Market volatility)	Low (Sovereign guarantee)	Low (Fixed return)
Returns	Market-linked potential	Market-linked growth	Fixed rate set quarterly	Fixed rate locked at purchase
Tax Benefits (123 read with Schedule XV of the Income Tax Act,2025)	Up to ₹1.5 lakh deduction	Up to ₹1.5 lakh deduction	Up to ₹1.5 lakh deduction	Up to ₹1.5 lakh deduction
Tax on returns	Tax-free maturity if premium is low	LTCG tax applies above ₹1.25 lakh	Completely tax-free returns	Interest is fully taxable
Liquidity	Partial withdrawals after lock-in	Full withdrawal after three years	Limited withdrawals allowed	Locked until maturity
Ideal for	Goals requiring cover and growth	Aggressive wealth builders	Risk-free retirement planning	Conservative guaranteed income

Every investment vehicle plays a specific role in your financial journey:

ULIPs merge family protection with market growth in one cohesive plan.
ELSS fits those willing to ride market highs for potentially better returns.
PPF offers absolute safety for steady, long-term retirement building.
NSC provides predictable income for conservative savers.

Selecting the correct mix depends entirely on your financial timeline and risk tolerance. Pairing a ULIP with a stable option like PPF creates a secure portfolio while optimizing your Section 123 read with Schedule XV of the Income Tax Act,2025 tax benefits.

Eligibility & Documents to Buy a ULIP Plan

Eligibility requirements vary by insurer and product. Most ULIPs are available to resident Indian individuals within the insurer’s prescribed entry and maturity age limits. The usual eligibility parameters include:

Minimum entry age, often starting from a few years for child-linked policies or 18 years for self-purchased plans
Maximum entry age, which varies across insurers and plan types
Minimum and maximum maturity age
Minimum premium requirement
Minimum and maximum sum assured
Policy term and premium-paying term options
Medical underwriting requirements, depending on age, cover amount, health profile, and insurer guidelines

You may need the following documents:

PAN card
Aadhaar card or another valid identity proof
Address proof
Date-of-birth proof
Passport-size photograph, if required
Income proof for higher sum assured amounts, such as salary slips, Form 16, income-tax returns, or bank statements
Medical reports, if requested by the insurer
Canceled cheque or bank account proof for payout-related details
Proposal form and health declaration
Nominee details, including name, relationship, date of birth, and contact information

For a minor child, the proposer or parent usually buys the policy, and the child may be named as the beneficiary or life insured depending on the product design.

How to Buy ULIP Plan Online?

Buying a ULIP online is now easier than ever. You can get a policy directly from an insurer's website or through a trusted online insurance marketplace. With Kotak Life, securing your ULIP policy online is straightforward and only takes a few steps.

All you have to do is follow through with the following steps in order to get started with the unit linked insurance policy of your choice:

Step 1: Explore ULIP Plans
Open the Kotak Life website and go to the ULIP Plans section. You will see plans like Kotak Life E-Invest Plus and TULIP, which offer insurance cover and market-linked investment opportunities.
Step 2: Enter Your Details
Enter your name, mobile number, and a few basic details to get a customized quote as per your investment goals.
Step 3: Compare Plan Features
Compare different ULIPs on the basis of fund selection, the duration of the policy, and the returns. Your final selection should fulfill your financial goals and risk profile.
Step 4: Customize Your Plan
Decide how much you wish to invest, how often you wish to pay premiums (monthly or yearly), and what kind of investment strategy you would prefer. You can also choose your investment timeline as per your financial objective, whether you are targeting ULIP returns in 25 years, ULIP returns in 30 years, or ULIP returns in 35 years. This will enable you to make your policy flexible in order to meet both the short and long-term goals.
Step 5: Complete the Application
Provide your personal data and verify it with your income details and KYC record. Give your health records as well.
Step 6: Make the Payment and Receive Your Policy
Pay securely after choosing your payment method. As soon as it is confirmed, your ULIP policy document will be sent to you through email, and that is the start of your financial journey with Kotak Life.

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What is a ULIP Calculator?

Insurance companies offer a ULIP calculator as a free online tool. It projects potential returns and premiums for you. With so many features available in the best ULIPs, choosing one gets tough. The calculator simplifies everything. It brings you clarity, even showing you how is CAGR calculated in ULIP.

Regular Investment One-time Investment

Investment Amount(Monthly)

₹

₹ 1 k

₹ 1 Cr

Investment Tenure(Years)

Years

1 Year

30 Years

Expected Rate of return(in %)

1 %

15 %

Sensex has given 10% return from 2010 - 2020

Existing Investment(optional)

₹

₹ 0

₹ 1 Cr

Periodic Investment(optional)

₹

₹ 0

₹ 1 Cr

You may get
₹

If you invest ₹

for Years at % p.a.

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Kotak Life's Performing Funds^!

Frontline Equity Fund

ULIF-034-17/12/09-FRLEQUFND-107

Investment Group: Equity & Debt

Date of inception - 17^th Dec 2009

NAV as on Mar-31-2026

₹66.8773

Risk Profile - Very High

Fund 5 year Returns

26.5%

Bench Mark 5 year returns

23.2%

Investment objective

Aims for a high level of capital growth for you, by holding a significant portion in large sized company equities.

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Classic Opportunities Fund

ULIF-033-16/12/09-CLAOPPFND-107

Investment Group: Equity & Debt

Date of inception - 16^th Dec 2009

NAV as on Mar-31-2026

₹66.5634

Risk Profile - Very High

Fund 5 year Returns

23.8%

Bench Mark 5 year returns

24%

Investment objective

Aims to maximize opportunity for you through long term capital growth, by holding a significant portion in a diversified and flexible mix of large / medium sized company equities.

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Kotak Mid Cap Advantage Fund

(ULIF054150923MIDCAPFUND107)

Investment Group: Equity & Debt

Date of inception - 30^th Sept 2023

NAV as on Mar-31-2026

₹16.2750

Risk Profile - Very High

Fund 1 year Returns

19.5%

Bench Mark 1 year returns

7.5%

Investment objective

Aims to maximize opportunity for long-term capital growth, by holding a significant portion in a diversified and flexible mix of medium and small sized company equities.

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Fund returns are as on 31st-Mar-2026 Click here to view past performance of the funds

Features of Kotak e-Invest Plus

100% Premium Allocation
every rupee you pay goes straight into investment, zero deducted at entry
3% Yearly Additions from year 6
your corpus gets a top-up automatically every year
Free Fund Switches
move your money between funds as your goals evolve
Flexible Investment Strategies
choose age-based auto-rebalancing or self-managed, whichever suits you
Partial Withdrawals
access your money from year 6, with the first 4 withdrawals free
Diversified 9 Fund Options
large cap, mid cap and small cap funds to match your risk appetite
Save Tax up to ₹46,800 u/s 80C^¥
invest smart and reduce your tax outgo every year
Up to 200% Return of Mortality Charges
get back what you paid for life cover on survival
10× Life Cover with Market-Linked Returns
stay protected while your money grows
Multiple Plan Options
Maximizer, Rising Star, Retire Rich — one product, three life goals

Invest in your dreams with Kotak Life Insurance ULIP plans.

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Can I Cancel/Surrender my ULIP Plan?

Yes, surrendering or canceling your unit-linked insurance plan is possible. The timing of this choice is everything. Your options lie in the mandatory 5-year lock-in period that governs all ULIPs. If you surrender early, you will face discontinuance charges and give up potential investment returns. This is a decision that requires serious thought.

Your process and the final outcome change based on when you decide to act:

During the Free-Look Period: You get a 15-30 day window right after you receive the policy document. Use this time to cancel and receive a full premium refund, though minor costs like medical tests might be deducted.
Within the 5-Year Lock-in Period: If you surrender during this time, your funds are not immediately available. The fund value, minus discontinuance charges, shifts into a Discontinued Policy (DP) Fund. This fund grows at a minimum guaranteed interest rate, and you receive the full amount only when the original 5-year lock-in term finishes.
After the 5-Year Lock-in Period: At this point, you have the freedom to surrender the policy whenever you want and collect the full current fund value.

What are the Different Types of ULIP Available in India?

ULIP plans open up various investment choices. You can tailor them to fit certain financial goals and achieve a specific blend of wealth creation and financial safety.

Classification by Fund Options

Types of Fund Options	Details
Equity Based ULIP Funds	These funds channel your premium into the stock market. This means a higher risk profile for a higher potential reward.
Hybrid or Balanced Funds	A mix of equity and debt investments. They provide a medium-risk approach with steadier return forecasts.
Debt Based ULIP Funds	These funds prioritize government securities and corporate bonds. The risk is lower, and returns are stable but more modest.
Cash Funds	Think of these as the safety-net option. Funds are placed in bank deposits and short-term instruments. They are the most secure ULIP fund available.

Classification by Death Benefit

Parameter	Type 1 ULIP Plans (Focus on Life Cover)	Type 2 ULIP Plans (Focus on Investment Returns)
Lock-in Period	5 years	5 years
Investment Options	Equity, debt, or a mix of both	Equity, debt, or a mix of both
Returns	Market-linked returns	Market-linked returns
Death Benefit	The nominee gets the higher amount between the sum assured or the current fund value. (Example: If the fund is ₹50L and the sum assured is ₹40L, the payout is ₹50L).	The nominee gets both the sum assured and the fund value combined. (Example: If the fund is ₹50L and the sum assured is ₹40L, the payout is ₹90L).
Objective	Ensures a guaranteed payout to the nominee	Aims to maximize the final payout and the investment growth.
Suitable for	Anyone who wants life insurance first, with steady market-linked growth as a bonus.	An individual willing to invest more with higher premiums to get larger potential benefits.
Sum at Risk	Reduces over time as fund value increases	Reduces over time as fund value increases

Classification by Purpose

Purpose-Driven ULIP Solutions	Details
ULIP for Wealth Creation	This plan is for the long haul. It presents an opportunity to build a significant corpus through market-linked growth
ULIP Plans for Child Education	Use this plan to construct a dedicated education fund. It also ensures family financial stability if you are no longer around.
ULIP for Health Benefits	Certain ULIPs allow access to funds during a medical emergency. You can often attach specific health riders.
ULIP Plans for Retirement	These plans are designed to help you build a large retirement corpus over your working years, delivering returns after you retire.

Testimonials

When I was planning for my child's future, my friends recommended me about investing in ULIP. The benefits that ULIP offer were very well aligned with my requirements. This is why I started researching and came to know about the Kotak e-invest plus plan. I went through their online portal and got to know the premiums, returns and everything. I realized that Kotak ULIP plans was the best plan for me, and I bought it.

- Mr. Ambadas Sulakhe

ULIP insurance plans are new-age investment instruments that offer tax benefits and market-linked returns. I read about it online and started to think about my investments. I thought this could be a good addition to my financial portfolio. They offer market-linked returns with no Capital gain taxes. And I could easily optimize my returns by choosing the funds wisely. So, I decided to start my Kotak ULIP plan.

- Mr. Darpan V Mehta

Investments have always helped me achieve my difficult life goals. So, I make sure that every month I invest in the right instruments. Just when I was looking for a new investment option, I came across Kotak ULIP plan. They have various plan options; premium payment mode is flexible which is perfect for me. The plan aligned with my requirements and offered excellent returns which makes this one a best ULIP plan for me.

- Ms Munera Janvekar

Kotak ULIP plan is one of the best investment instruments I decided to invest my hard-earned money in. It gives me various fund options that help me manage my portfolio and make sure that my investment is optimized all the time. This way, I can gain returns when the market is high and go for debt funds when the markets go down. A win-win. If you are looking for such a plan, I recommend you to invest in Kotak ULIP plan.

- Mr Sujitbhai Ashokbhai Kanjariya

I was looking for investing a sum of amount that can give me good returns over the long term. I came across Kotak ULIP plan and decided to give it a try. I logged in to understand the plan and their call center executive helped me understand everything about the plan. I went ahead with the plan and the plan is giving me good returns and I can monitor them year on year. If you are looking for a long term investment with solid returns, I recommend you to invest in Kotak ULIP plan.

- Ms Neeti Garg

My friends recommended me to invest in an ULIP plan when they came to know that I am planning to buy a house in the future. I went online, spoke to my friends and came across Kotak ULIP plan. I registered on their portal where they showed me all plans, premiums and returns upfront. I completed the application process upload documents and made my payment. I was happy to make this decision as I can now monitor my returns and make a fund switching decision when required.

- Mr Santosh Kumar

Myths About Investing in ULIPs

The existence of the ULIPs has been a subject of debate amongst investors for years now. While there are people who regard them as a smart, one-stop-shop investment option, there are others who approach them with caution due to various misconceptions. Here’s a look at a few of the most common myths and the truth behind them:

Myth 1: ULIP Plans are Expensive

One common myth about ULIP plans is that they are too expensive to be worth it. While it is true that they come with certain charges, these costs are generally reasonable, especially when you compare them to other investment options like mutual funds or portfolio management services, which also have their own fees. The key is to understand what you're paying for and how the plan's benefits can outweigh these charges in the long run.

Myth 2: ULIP Plans have Poor Returns

Another widely held misconception is that ULIPs deliver poor returns compared to options like mutual funds or direct equity. In reality, ULIP performance depends on factors such as your investment duration, the type of funds you choose, and the track record of the insurance provider. With the right choices and a long-term view, returns can be competitive.

Myth 3: ULIP Plans Lack Transparency

Some people also believe that ULIPs lack transparency. However, these plans are regulated by the IRDAI, which requires insurance companies to disclose all important details about the scheme clearly. This ensures investors have access to the information they need to make smart choices.

Myth 4: ULIP Plans have a Long Lock-in Period

Although the minimum lock-in period for ULIP plans under IRDAI regulations is five years, it also gives investors an opportunity to receive compounding powers that work long-term.

Myth 5: ULIP Plans are Only for Life Insurance

ULIP plans indeed provide life insurance, but they are also an investment product. They provide a dual advantage of insurance protection and potential wealth creation through market-linked returns.

Myth 6: ULIP Plans are Risky

It is true that ULIPs are linked to the market, but the level of risk is in your hands. If you opt for equity funds, your returns might fluctuate in the short term, but can grow significantly over time. If you prefer a steadier approach, debt funds focus more on stability and capital protection. By going for the right mix of funds and staying invested for a long time, you can balance risk and reward effectively.

Term Related to Unit Linked Insurance Plans

The mechanics of ULIPs should be fully understood to maximize the benefits of ULIPs. The following is a basic list of terms related to ULIP plans you will come across:

Fund Value

This is the real-time cash value of your investment. It is the number of units you own in a fund, multiplied by that fund's current price (Net Asset Value).

Contract

Your ULIP "Contract" is the official policy document. This is the legally binding agreement between you and the insurance company that details every single rule.

Contract Surrender

This is when you cancel your ULIP policy before its official end date. If you surrender within the 5-year lock-in period, your money goes into a discontinuance fund and sits there. If you surrender after the lock-in, you get the entire fund value right away.

Death Benefit

This is what the insurance company will give to your nominee in the unfortunate event of your demise during the policy period. The higher between the sum assured and the fund value (in a Type 1 ULIP) or the sum reassured along with the fund value (in a Type 2 ULIP) is the usual amount.

Fund Switch

A fund switch is a tool. It lets you move your money from one investment fund to another inside your ULIP, like from stocks to bonds. You use this to manage your investments based on market performance and your own comfort with risk.

Maturity Benefit

This is the final payout you get when the ULIP's term is complete. Your maturity benefit is the total fund value on the policy's end date.

Regular-Premium Contract

This is a standard ULIP contract where you must pay your premiums on a strict schedule, such as monthly or yearly, for the entire payment term.

Single-Premium Contract

This ULIP type requires just one massive, lump-sum premium payment at the very beginning. After that, you are done paying for the entire policy term.

Sum Assured

The sum assured is the guaranteed minimum death benefit payout. It is the core life insurance component inside your ULIP.

Surrender Value

This is the amount of cash you walk away with if you cancel the contract before its maturity date. After the 5-year lock-in period is done, the surrender value is simply the full fund value at that moment.

Survival Benefit

In a ULIP, a survival benefit is a loyalty bonus. The insurer rewards you with extra units in your fund at set times for staying invested with them long-term.

Top-Up Premium

A Top-Up is an extra, one-off investment you make into your ULIP. It sits on top of your normal premiums. This is how you invest extra cash to grow your fund value faster.

ULIP Charges

These are the fees the insurer deducts from your money to manage the policy. Expect to see charges like the Premium Allocation Charge, Policy Administration Charge, Fund Management Charge (FMC), and the Mortality Charge.

Withdrawal (Partial)

This feature lets you pull out a portion of your cash from the fund value for an emergency. You are only allowed to make partial withdrawals after the 5-year lock-in period is over.

Reviewed By :

Prasad Pimple

Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors

^*Goods and Services Tax and Cess The premium figures are net of Goods and Services Tax and Cess, as applicable. Goods and Services Tax and Cess rates are subject to change from time to time as per the prevailing tax laws and/or any other laws.

^∞ Figures arrived are basis the data published on Kotak Mahindra Life Insurance Company Limited website page https://www.kotak.com/content/dam/Kotak/investor-relation/Financial- Result/QuarterlyReport/FY-2024/q1/Investor-Presentation/Q1FY2024-Investor-Presentation.pdf for secured lives nationwide as on 31st March 24

^αLong-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.

^$Tax Benefit Tax benefits are subject to conditions specified under Section 11 read with Schedule II(2) of the Income Tax Act, 2025 and Section 123 read with Schedule XV of the Income Tax Act,2025. Tax benefits are subject to conditions specified under the Income-tax Act, 2025. Tax laws are subject to amendments from time to time. Customer is advised to take an independent view from tax consultant.

^γUnit Linked Insurance are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Kotak Mahindra Life Insurance Company Ltd is only the name of the Life Insurance Company and Kotak e-Invest/ Kotak T.U.L.I.P/ Kotak Invest Maxima/ Kotak Single Invest Advantage / Kotak Platinum/ Kotak Wealth Optima Plan/ Kotak e-Invest Plus/ Kotak Confident Retirement Builder is only the name of the linked insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. Please know the associated risks and the applicable charges, from your insurance agent or intermediary or policy document issued by the insurance company.

Past performance is not indicative of future performance.

This website content is not a brochure and only gives the salient features of the plans. For more details on risk factors, terms and conditions please read the individual products sales brochure carefully before concluding a sale.

Kotak e-Invest UIN: 107L121V02. This is a non-participating unit-linked life insurance individual savings product.

Kotak T.U.L.I.P UIN: 107L131V03. This is a non-participating unit-linked life insurance individual savings product.

Kotak Invest Maxima UIN: 107L073V05. This is a non-participating unit-linked life insurance individual savings product.

Kotak Single Invest Advantage UIN: 107L065V05. This is a non-participating unit-linked life insurance individual savings product.

Kotak Platinum UIN: 107L067V07. This is a non-participating unit-linked life insurance individual savings product.

Kotak Wealth Optima Plan UIN: 107L118V03 This is a non-participating unit-linked life insurance individual savings product.

Kotak e-Invest Plus UIN: 107L137V02. This is a non-participating unit-linked life insurance individual savings product.

Kotak Confident Retirement Builder UIN: 107L136V02 This is a non-participating unit-linked pension individual savings product. This product is available for sale through online mode.

Kotak Confident Retirement Savings Plan UIN: 107N162V01 This is a participating non-linked pension individual savings plan. This product is available for sale through online mode. The risk factors of the bonuses projected under the product are not guaranteed. Past performance doesn’t construe any indication of future bonuses. The products are subject to the overall performance of the insurer in terms of investments, management of expenses, mortality, and lapses. @The assumed non-guaranteed rates of return chosen in the illustration are 4% p.a. and 8% p.a. These assumed rates of return are not guaranteed and they are not the upper or lower limits of what you might get back as the value of your policy is dependent on a number of factors including future investment performance. The actual experience may be different from the illustrated. Please note that Bonuses are NOT guaranteed and may be as declared by the Company from time to time. Benefits under this plan are dependent upon the performance of the participating funds.

Section 41- Extract of Section 41 of the Insurance Act, 1938 as amended from time to time states: (1) No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take or renew or continue an insurance in respect of any kind of risk relating to lives or property in India, any rebate of the whole or part of the commission payable or any rebate of the premium shown on the policy, nor shall any person taking out or renewing or continuing a policy accept any rebate, except such rebate as may be allowed in accordance with the published prospectuses or tables of the insurer. (2) Any person making default in complying with the provisions of this section shall be liable for a penalty which may extend to ten lakhs rupees.

Section 45- Fraud Misstatement would be dealt with in accordance with provisions of Section 45 of the Insurance Act, 1938 as amended from time to time. Please visit our website for more details: Read more about section38_39_45_of_insurance_act_1938

Kotak Mahindra Life Insurance Company Limited. Reg No. 107; CIN: U66030MH2000PLC128503; Regd. Office: 8th Floor, Plot # C- 12, G- Block, BKC, Bandra (E), Mumbai – 400051 | Website: https://www.kotaklife.com | WhatsApp: 9321003007 | Toll Free: 1800 209 8800 | ARN No. KLI/26-27/E-WEB/1350

Trade Logo displayed above belongs to Kotak Mahindra Bank Limited and is used by Kotak Mahindra Life Insurance Company Limited under license.

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ULIP Plan - Unit Linked Insurance Plans

ULIP Plans Designed for Different Life Goals

ULIP For Wealth Creation

ULIP for Child’s Future

ULIP for Confident Retirement

ULIP for Higher Protection

Features

Features

Features

Features

What is a ULIP?

How Does a ULIP Work?

Premium Allocation: Insurance vs Investment

The allocation may be understood in simple terms:

Fund Options

Understanding How ULIP Policy Works

Policy Details

Initial Sum Assured:

₹60,00,000

Annual Premium:

₹60,00,000

Annual Charges (Admin + Others):

₹12,000

Net Annual Investment

₹5,88,000

Initial NAV

₹10

Units Purchased Per Year

₹5,88,000 ÷ ₹10 = 58,800 units

Death Benefit(If Sunita passes away at 40)

Maturity Benefit(Sunita completes 20 years)

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Kotak e-Invest Plus vs Kotak T.U.L.I.P

FAQs

Which is the best ULIP?

Are Unit Linked Insurance Plans a good investment?

Are ULIPs suitable for the long term?

How is ULIP different from traditional plans?

What is the advantage of ULIP?

What is the difference between a ULIP & SIP?

Can I switch between different funds in ULIPs?

What happens if I stop paying my ULIP premium?

Does ULIP provide a death benefit?

Can I add riders to my ULIP plan?

What happens if I surrender my ULIP before the lock-in period?

How do I choose the best ULIP plan for my needs?

Can I buy a ULIP plan online?

Is it safe to invest in ULIPs?

What are the charges in ULIP?

What is the minimum premium amount for ULIP?

Can I increase or decrease my premium in ULIP?

What are the tax benefits of ULIP premiums?

Is interest in ULIP taxable?

What are the different types of charges in a ULIP?

Does ULIP have hidden charges?

Are there any additional fees for switching funds?

How does ULIP compare to mutual funds in terms of cost?

How is the fund value calculated in ULIP?

What is the ULIP interest rate?

How does market volatility impact ULIP returns?

Can I track my ULIP investments online?

Does ULIP offer guaranteed returns?

What happens if my ULIP fund underperforms?

Can I rebalance my portfolio in ULIP?

How can I maximize my ULIP returns?

Can I cancel/surrender my ULIP plan?

When can I withdraw ULIP?

What is the expiry date of the lock-in period?

Can I take a loan against my ULIP policy?

Is a ULIP taxable at maturity?

Are partial withdrawals allowed in ULIP?

What is the process to withdraw funds from a ULIP?

ULIP For
Wealth Creation

ULIP for
Child’s Future

ULIP for
Confident Retirement

ULIP for
Higher Protection

Annual Charges
(Admin + Others):

How to Manage/Switch ULIP Funds?

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ULIP vs Other Investment Options