ULIPs let you build wealth through market-linked funds while keeping a life insurance cover in place, all within one policy. Fynmate helps you understand how these plans work and whether one fits your financial goals.
✅ Why Choose This Option
- Life cover plus wealth creation in one plan
- Choice of equity, debt, or balanced fund options
- Flexibility to switch between funds
- Tax benefits as per applicable laws
⚠️ Full Disclosure Protects Your Claim
Always disclose all pre-existing medical conditions, health history, lifestyle habits (such as smoking or alcohol use), occupation, and any other material facts accurately and completely at the time of buying your policy. Under the principle of "utmost good faith," non-disclosure or misrepresentation — even unintentional — can lead to a claim being rejected or the policy being cancelled later. When in doubt, disclose it.
Tax Benefits on ULIP Plans
- Section 80C: Premium paid qualifies for deduction, within the overall combined ₹1.5 lakh limit under Section 80C
- Section 10(10D): Maturity proceeds are generally tax-free, provided the total annual premium across all your ULIPs does not exceed ₹2.5 lakh (for policies issued on or after 1 February 2021) and premium-to-sum-assured ratio conditions are met
- If your annual ULIP premium exceeds ₹2.5 lakh, maturity gains may instead be taxed as capital gains rather than being fully exempt — this is a meaningful distinction to check before investing a large amount into a single ULIP
Tax benefits are subject to conditions under the Income Tax Act, 1961, and can change with each Union Budget. This is general information, not personalised tax advice — please confirm applicability with a tax advisor for your specific case. Deductions mentioned below are generally available only under the old tax regime.
⚠️ Important Regulatory Notice
This Website is not an Insurance Self-Network Website (ISNP) and does not facilitate the online purchase, issuance, renewal, comparison, or payment of insurance policies. Information available on this Website is provided solely for general informational purposes and does not constitute insurance, legal, financial, tax, or risk management advice, recommendation, or solicitation.
Policy coverage, premiums, underwriting, and claim settlement are subject to the terms, conditions, exclusions, and decisions of the relevant insurer. Please review all policy documents carefully before making any decision. Standard T&C Apply.