Exploration and Analysis of Structure and Growth Performance of Selected ULIPs

Insurance in India has been emerging as an important and profitable business. Every insurer wants to capture the maximum share in the market and is offering both Unit Linked Insurance Plans (ULIP) and traditional plans. ULIPs are the youngsters in the product portfolios of life insurance companies. They provide the buyer a life cover as well as investment avenue. Today, these are the stars, accounting for 80 percent of polices sold by life insurers and their rapid rise has been fueled to a large extent by the last bull runs in the stock market. There is an enormous choice of ULIP Plans available in the insurance market, but such a wide range of plans puzzle the buyer. The present study examines the Unit Linked Insurance Plans of selected private life insurers on the basis of policy features, charges and the performance registered by each investment. It is observed that as a whole Wealth Advantage plan of ICICI Pru is the best plan in terms of diverse ULIP features and charges. Birla Sun Life’s Individual Life Creator and Birla Sun Life’s Individual Life Magnifier has emerged as the top two ULIP funds.