If you’re searching for the best ULIP plans in India, chances are you want long-term wealth creation plus life cover, without salesy noise or jargon. This guide does exactly that: an objective, fact-checked comparison of 10 popular Unit Linked Insurance Plans (ULIPs) in 2026 what each offers (fund options, switching, loyalty additions/boosters, charges headlines, premium patterns, lock-in, etc.), and how to read them like a pro.
Note: ULIPs are regulated insurance-cum-investment products with a 5-year lock-in. Investment risk is borne by the policyholder. Always read each insurer’s brochure before buying.
Quick refresher: what makes a “good” ULIP shortlist?
- Transparent charges: low/clear fund management charge, predictable allocation/administration/mortality structure.
- Useful features: meaningful loyalty additions/wealth boosters, Return of Mortality Charges (ROMC) where offered, free fund switches, top-ups, and flexible premium modes.
- Fund menu depth: equity, debt, hybrid choices; auto-rebalancing or lifecycle options if you prefer hands-off.
- Liquidity rules: partial withdrawals after 5 years (standard), discontinuance rules, and surrender implications.
- Tax fit: premiums under old regime (80C), proceeds under 10(10D) if conditions apply (separate article covers 2025 rules in depth).
Top 10 ULIP Plans in India (2026)
Below are ten of the most popular ULIPs offered by leading Indian insurers in 2026.
Please note, this is not financial advice but a transparent snapshot to help you compare confidently.
1. HDFC Life Click 2 Wealth
According to HDFC Life’s official brochure, Click 2 Wealth is designed as a low-cost ULIP with only two recurring charges — Fund Management Charge (FMC) and Mortality Charge — removing the usual premium allocation or administration fees.
It offers three plan options: Invest Plus (pure wealth), Premium Waiver (for child’s education), and Golden Years (whole-life protection).
Key features:
- Special Additions: From year 6 onwards, a percentage of the annual premium is added every year until maturity, increasing overall corpus.
- Return of Mortality Charges (ROMC): At maturity, all mortality charges are refunded — a rare benefit among ULIPs.
- Free Fund Switches: Unlimited switches between 8 funds (equity, balanced, debt).
- Lock-in: 5 years; partial withdrawals allowed after that.
Overall, this plan focuses on transparent charges and flexibility for long-term investors who value simplicity.
2. ICICI Prudential Signature
The ICICI Pru Signature ULIP, as detailed in the insurer’s brochure, is a goal-based investment plan that combines flexibility with periodic loyalty rewards.
Key features:
- Loyalty Additions: Added every year from the end of the sixth policy year — between 0.15%–0.30% of the fund value annually.
- Wealth Boosters: Extra units credited once every five years, encouraging long-term holding.
- Portfolio Strategies: Choice of four — Lifecycle-based, Trigger, Constant Asset Allocation, and Fixed Portfolio — depending on your investment style.
- Fund Options: 17 funds (across equity, debt, and balanced).
- Online access: Comprehensive digital dashboard and fund-switch facility.
In short, the plan rewards staying invested while giving you complete control over your portfolio strategy.
3. SBI Life Smart Privilege / Smart Privilege Plus
According to SBI Life’s 2025 brochures, both Smart Privilege and the newer Smart Privilege Plus focus on flexibility and periodic loyalty additions.
Key features:
- Premium Redirection & Fund Switches: Up to 12 free switches per year with multiple fund rebalancing options.
- Loyalty Additions: Added from the end of the 6th policy year and every 2–5 years thereafter, based on premium size and policy term.
- Investment Choice: 11–12 fund options covering pure equity, hybrid, and debt.
- Flexibility: You can stop paying premiums after 5 years and continue your policy till maturity.
It’s a plan meant for investors who want hands-on control and frequent rebalancing flexibility.
4. SBI Life eWealth Plus
SBI Life’s eWealth Plus is an online-only ULIP, targeted at first-time digital investors.
Key features:
- Portfolio Options: Two automated strategies — Growth (for long-term equity focus) and Balanced (for moderate risk).
- Charges: Transparent structure with no premium allocation charge; only fund management and mortality apply.
- Loyalty Additions: Credited from the end of the 10th policy year onwards.
- Convenience: Full online purchase, tracking, and servicing.
This plan is suited for those who prefer a DIY investing experience without intermediary costs.
5. LIC New Endowment Plus (ULIP)
LIC’s New Endowment Plus, as per its updated September 2025 brochure, is a non-participating, regular premium ULIP that combines savings with insurance cover.
Highlights include:
- Fund Options: Four — Bond, Balanced, Secured, and Growth Fund — each with different equity-debt ratios.
- Partial Withdrawals: Permitted after 5 years, up to 30% of fund value.
- Riders Available: Accident Benefit and Critical Illness riders.
- Lock-in: Standard 5-year period.
Given LIC’s brand trust and conservative fund design, this ULIP appeals to investors seeking stability and traditional assurance rather than aggressive equity exposure.
6. Bajaj Allianz Goal Assure
According to Bajaj Allianz’s product brochure, Goal Assure is positioned as a rewarding ULIP for disciplined investors, offering loyalty additions and an innovative Fund Booster feature.
Key highlights:
- Loyalty Additions: Paid from the 6th policy year onward, as a percentage of average fund value.
- Fund Booster: One-time addition at maturity, enhancing returns for long-term holders.
- Return of Mortality Charges (ROMC): Refunded on maturity, adding back protection costs.
- Investment Options: 8 diverse funds (ranging from Pure Stock Fund to Liquid Fund).
- Flexibility: Partial withdrawals, premium redirection, and 12 free switches per year.
Its structure clearly rewards patience and long-term commitment.
7. Kotak e-Invest / e-Invest Plus
Kotak Life’s e-Invest (and the newer e-Invest Plus) ULIPs are fully digital-first products that blend modern flexibility with investment customisation.
According to the brochure:
- Fund Choices: 10 options, including Bluechip Equity, Balanced Advantage, and Dynamic Bond Fund.
- Portfolio Strategies: Classic Opportunities, Systematic Switching, and Age-Based Allocation.
- Loyalty Additions: Credited from year 6, increasing by tenure.
- Flexibility: Choose policy term (10–30 years), premium payment term, and cover level.
These ULIPs are meant for digitally savvy investors who want control but prefer minimal paperwork.
8. Max Life Fast Track Super
Max Life’s Fast Track Super (also available via Axis Max Life) is a mid-cost ULIP focused on aggressive equity exposure with lifecycle switching options.
According to the plan brochure:
- Dynamic Fund Allocation (DFA): Automatically rebalances from equity to debt as you near policy maturity — ideal for busy investors.
- Fund Options: 6 funds across equity, balanced, and debt categories.
- Loyalty Additions: 0.3% of fund value added annually after year 10.
- Premium Modes: Single, limited, or regular.
- Switches: 12 free switches per year.
The plan caters to people aiming for equity-linked growth with an in-built de-risking mechanism.
9. Tata AIA Wealth Maxima / Fortune Maxima
Tata AIA’s Wealth Maxima and Fortune Maxima are whole-life ULIPs, giving lifelong protection along with market-linked returns.
As stated in the brochure:
- Single-Premium (Wealth Maxima): One-time payment, lifelong cover up to age 100.
- Regular-Premium (Fortune Maxima): Ongoing contributions with fund options in equity, hybrid, and debt.
- Loyalty Additions: Starting from year 10 and every 5 years thereafter.
- Investment Options: 11 Tata AIA-managed funds with varying risk profiles.
- Surrender Value: Payable after the 5-year lock-in.
These plans are tailored for those seeking legacy creation and long-term wealth transfer within one structure.
10. PNB MetLife Mera Wealth Plan
According to the company’s brochure and 2025 press releases, Mera Wealth Plan aims to give investors access to value-oriented equity funds with flexibility in investment strategy.
Key features:
- New Launch (2025): Introduction of PNB MetLife Value Fund, focusing on undervalued stocks for long-term growth.
- Loyalty Additions: Every 5 years from policy inception, linked to fund performance.
- Fund Options: 9 total, including balanced and debt funds.
- Switching & Top-ups: Free up to 12 times per year.
- Tax Benefits: Eligible under Sections 80C and 10(10D) (conditions apply).
The plan suits investors who want diversified exposure through a trusted brand and transparent fund tracking (monthly fact sheets are publicly available).
Feature-by-feature: how these ULIPs differ
The table below focuses on core buying criteria. Specific values (like exact number of free switches, allocation charge slabs, etc.) can vary by premium band/tenure—check the latest brochure/illustration.
Tip:
When you compare “ULIP charges”, don’t stop at the headline. Look at: Premium Allocation Charge, Policy Administration Charge, Mortality Charge, Fund Management Charge (FMC), Switch/Partial Withdrawal fees beyond free limits, Top-up rules, and any discontinuance charges. Insurers disclose a full “charge grid” in brochures/benefit illustrations.
“Best ULIP” ≠ “Best for me”: map features to your goal
Because ULIPs combine protection + investing, start with your goal type and time horizon:
- Whole-life/long horizon (wealth creation with long cover): explore whole-life ULIPs like Fortune/Wealth Maxima or Click 2 Wealth (Golden Years option).
- Hands-off fund management: look for lifecycle/DFA or auto rebalancing options (e.g., Max Life Fast Track Super DFA).
- Lower visible ongoing charges: some plans emphasise minimal ongoing charges + ROMC (e.g., Click 2 Wealth). Still scrutinise all charge buckets.
- Digital convenience: online ULIPs (SBI eWealth Plus, Kotak e-Invest/Plus, ICICI Pru Signature online flow) are designed for end-to-end digital service.
- Fund menu depth / new fund launches: if you care about equity styles, check fund factsheets and updates (e.g., PNB MetLife Value Fund in 2025).
Standard across ULIPs: 5-year lock-in, partial withdrawal only after year 5, and discontinuance fund rules if you stop early. (If you discontinue before 5 years, units typically move to a Discontinued Policy Fund, life cover stops, and proceeds are payable after lock-in—product-specific details apply.)
How to read a ULIP brochure fast (without missing the fine print)
- Charges grid: capture FMC, allocation/admin, mortality, any policy revival or discontinuance costs. (HDFC’s Click 2 Wealth highlights only FMC + mortality as ongoing, but still read the full conditions.)
- Additions & boosters: quantify loyalty additions (frequency, % of premium or fund value, and eligibility), fund boosters, and ROMC where applicable.
- Switching/top-ups: number of free switches per year, fee beyond free limit, and top-up rules (including minimums and tax implications under 10(10D) post-2021).
- Fund strategy: list the fund names, risk labels, benchmarks, and whether lifecycle/DFA is available.
- Liquidity windows: partial withdrawal from year 6, limits per year, and surrender treatment (tax and charges).
- Tax positioning: confirm how Section 80C and Section 10(10D) apply after Feb-2021 changes and 2025 clarifications (premium thresholds, sum-assured criteria). (See our ULIP Taxation 2025 guide.)
- Illustrations at your premium: most brochures include Benefit Illustrations at assumed gross returns—use them to compare net of charges impact across plans (keeping assumptions consistent).
Objective snapshots (one-glance summaries)
Below are summaries of each plan’s key talking points (from official pages/brochures and well-known explainer pages). Use them to shortlist what to read next.
- HDFC Life Click 2 Wealth – minimal ongoing charge headline (FMC + mortality), special additions first 5 years, ROMC, free/unlimited switches, multiple plan options incl. long-tenure coverage.
- ICICI Pru Signature – loyalty additions + wealth boosters, four portfolio strategies, wide fund choice; online presence with detailed explainer pages.
- SBI Life Smart Privilege / Plus – multiple switches and premium redirection, loyalty additions, ~12 funds; updated Plus brochure (2025).
- SBI Life eWealth Plus – digital purchase/servicing focus within SBI’s wealth creation category.
- LIC New Endowment Plus – updated 2025 brochure; non-participating ULIP with standard rider options and documented partial withdrawal rules.
- Bajaj Allianz Goal Assure – known for loyalty additions + fund booster-type features in plan explainers; review details & charge schedule in illustration.
- Kotak e-Invest / e-Invest Plus – customisable online ULIP; goal-based messaging, flexible fund menu.
- Max Life Fast Track Super – Dynamic Fund Allocation (DFA) glide-path option and multiple funds; partner/bank PDFs detail plan structures.
- Tata AIA Wealth Maxima / Fortune Maxima – whole-life orientation; single-premium variant for Wealth Maxima; multiple funds.
- PNB MetLife Mera Wealth Plan – active fund updates, Value Fund launched in 2025 for value style exposure via ULIPs; regular factsheets.
How to build your own “Top 3” from the Top 10
Here’s a DIY scoring framework you can apply:
- Charges reality (30%) – use the plan’s benefit illustration at your planned premium to see “Net yield” differences.
- Feature value (25%) – score loyalty additions/ROMC/boosters and whether they meaningfully improve net outcomes. (Prefer transparent, formulaic additions.)
- Fund architecture (20%) – breadth (equity, debt, hybrid), presence of lifecycle/DFA and track record via monthly fund factsheets.
- Flexibility & service (15%) – free switches, online self-service, partial withdrawal rules, top-up ease.
- Goal fit (10%) – whole-life vs finite term, single premium vs regular, child/retirement focus variants.
Create a simple spreadsheet with rows = plans and columns = criteria above. Assign 1–5 for each, multiply by the % weight, and sort. This way you derive a “best for me” list, without anyone nudging you toward a brand.
Market context
ULIP demand tracked higher through FY25 as markets rallied; large listed insurers reported ULIP share gains in product mix. That doesn’t make ULIPs “better” or “worse,” but it explains why you’re seeing more ULIP chatter this year.
A simple, objective checklist before you pick any ULIP
- Confirm latest brochure/UIN version (plans get refreshed—e.g., LIC updated New Endowment Plus brochures in Sep-2025).
- Run a benefit illustration at your premium (same assumptions across all plans).
- Write out the charge line-items you’ll actually pay each year.
- Quantify additions (loyalty/booster/ROMC)—note vesting years and conditions.
- Study fund factsheets (equity style, debt duration, risk labels).
- Check liquidity (partial withdrawals after 5 years, discontinuance rules).
- Map tax rules to your policy issue date and annual premium (₹2.5 lakh threshold).
- Keep protection separate if needed—if your life cover need is large, a term plan + investing approach might be cleaner. (General planning point; not a recommendation.)
Conclusion
ULIPs can be powerful “invest + insure” tools—if you match the plan’s charges and features to your goal horizon and premium capacity. The Top 10 above give you a grounded starting list from large, active insurers in 2025, with verifiable features you can cross-check in minutes. Use the DIY scoring framework and checklist to build your shortlist—without anyone nudging you to a particular brand. And remember: focus on net-of-charges outcomes, fund discipline, and tax conditions that apply to you this year.
Smart buyer FAQs
Q1) Which is the best ULIP plan in India in 2026?
There is no single “best” ULIP for everyone. A plan that looks great on ads may not fit your premium size, horizon, or tax position. Start by shortlisting from major insurers and read their latest brochures (e.g., HDFC Life Click 2 Wealth, ICICI Pru Signature, SBI Life Smart Privilege/Plus/eWealth Plus, LIC New Endowment Plus, Bajaj Allianz Goal Assure, Kotak e-Invest/Plus, Max Life Fast Track Super, Tata AIA Wealth/Fortune Maxima, PNB MetLife Mera Wealth Plan). Compare charges, additions/boosters, fund menu, switching, and liquidity rules. Then run a benefit illustration at your premium to see net impact.
Q2) How do I compare ULIP charges across plans?
Look beyond a single headline. Check: Premium Allocation Charge, Policy Administration Charge, Mortality Charge, Fund Management Charge (FMC), Switch fees after free limit, Partial withdrawal charges, Top-up fees, Discontinuance/Surrender charges. Most insurers publish a charge grid and a Benefit Illustration. Use the illustration to compare net yield at identical assumptions. As a primer on ULIP charge types, see ICICI Prudential’s explainer.
Q3) What is the lock-in period in ULIPs and when can I withdraw?
ULIPs have a mandatory 5-year lock-in. Partial withdrawals are typically allowed from year 6, subject to plan-specific limits. If you stop paying or surrender before 5 years, your units may be moved to a Discontinued Policy Fund, life cover ceases, and the proceeds are released after the lock-in with minimal interest credit (as per the product’s rules).
Q4) Are ULIP returns guaranteed?
No. ULIPs invest in market-linked funds (equity/debt/hybrid), so returns fluctuate. Some plans add loyalty/booster units or Return of Mortality Charges (ROMC) to improve outcomes, but these do not guarantee returns. Always review fund factsheets and risk labels. (Examples of loyalty/ROMC references: HDFC Life Click 2 Wealth, Bajaj Allianz Goal Assure.)
Q5) Do ULIPs offer tax benefits in 2025?
Under the old tax regime, premiums may qualify for Section 80C (up to ₹1.5 lakh), and Section 10(10D) can exempt maturity/death proceeds if conditions are met. Post Feb-2021 issuance, if your aggregate annual premium over eligible ULIPs exceeds ₹2.5 lakh, maturity proceeds may be taxable as capital gains (Budget 2025 alignment clarified capital-asset treatment). Always check your policy issue date, premium amounts, sum-assured multiple, and consult a tax professional. (Insurer pages and 2025 coverage provide context.)
Q6) What are “loyalty additions”, “wealth boosters”, and “ROMC”?
They’re plan features where the insurer credits extra units (loyalty/booster) or returns mortality charges at maturity (ROMC). They can improve net outcomes but should be considered after you’ve compared total charges and fund performance. Examples: Click 2 Wealth highlights special additions and ROMC; Goal Assure communications emphasise loyalty/fund boosters.
Q7) Is a whole-life ULIP better than a regular-term ULIP?
Not inherently. Whole-life ULIPs (e.g., Tata AIA Fortune/Wealth Maxima) extend cover to higher ages or whole life and may appeal if you want long-tenure protection wrapped with investing. But they still carry market risk and standard ULIP rules. Choose based on your goal horizon, premium affordability, and tax position.
Disclaimer
This article is for education only. It is not financial advice or a recommendation to buy/sell any product. Insurance/ULIP features, charges and tax rules change—always read the latest brochure, benefit illustration and consult a qualified advisor for your situation.
Sources & references: Insurer brochures and official pages for plan features; industry explainers and 2025 market coverage for context. Key references include HDFC Life Click 2 Wealth brochure and page; ICICI Pru Signature and ULIP explainer pages; SBI Life Smart Privilege/Plus and eWealth Plus; LIC New Endowment Plus (2025 brochures); Bajaj Allianz Goal Assure explainers; Kotak e-Invest/e-Invest Plus; Max Life Fast Track Super brochures; Tata AIA Wealth/Fortune Maxima pages; PNB MetLife Mera Wealth + fund updates; ULIP charges guide; recent ULIP market context. Reuters+27HDFC Life+27HDFC Life+27
