Wealth Protection Planning
Family Protection Plans
ULIPs, savings plans and child plans that combine insurance with long-term goals.
- Minimum
- On enquiry
- Risk
- Moderate risk
- Liquidity
- Locked in
Overview
What this actually is
These products bundle insurance with an investment component, aimed at a dated family goal such as education or marriage.
We are deliberately careful here. For most families, a term plan plus a separate mutual fund achieves the same two objectives at lower cost and with far better flexibility. Bundled products make sense in specific situations — a defined goal, a need for enforced discipline, or a particular tax position — and we will tell you plainly when they do not apply to you.
Why consider it
What it does well
- Insurance and a dated savings goal addressed in one instrument.
- Enforced discipline through committed periodic premiums.
- Waiver-of-premium riders can keep a child's plan funded if the parent dies.
- May carry tax benefits under prevailing rules.
Key details
The specifics
- Types
- ULIP, savings plans, child plans
- Typical lock-in
- 5 years
Who is this for
You might be a fit if…
If none of these describe you, that is useful information too — tell us on the call and we will point you somewhere more suitable.
- Parents saving toward a specific, dated goal
- Families wanting the plan to continue if the earning parent dies
- Investors who value committed structure over flexibility
Risks & considerations
- ULIP returns are market-linked and not assured. The fund value can fall.
- Lock-in is typically five years, and surrendering early can return materially less than you paid in.
- Bundled products carry mortality, allocation, administration and fund management charges that reduce returns, and these are harder to compare than a mutual fund's expense ratio.
- The insurance cover in a bundled product is usually far lower than a pure term plan for the same outlay.
- Stopping premiums mid-term can lapse the policy and forfeit benefits.
- For most families a term plan plus a mutual fund is cheaper and more flexible than a bundled plan.
Important information
Insurance is the subject matter of solicitation. Please read the sales brochure and policy wording carefully for details on benefits, exclusions, limitations, terms and conditions before concluding a sale.
Mutual Fund investments are subject to market risks. Read all scheme related documents carefully before investing.
Past performance is not indicative of future returns.
Sarvam Associates is a distribution partner, not the manufacturer of these products.
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Next step
Talk to a Sarvam advisor
Fifteen minutes on family protection plans — whether it fits, what it would cost you, and what could go wrong. No obligation either way.
Important information
Mutual Fund investments are subject to market risks. Read all scheme related documents carefully before investing.
Sarvam Associates is a distribution partner, not the manufacturer of these products.
The content on this website is for general information only and does not constitute investment advice or a recommendation to buy or sell any product. Product suitability depends on your individual circumstances. Please speak with an advisor before investing.