Savings plans bundle life cover with guaranteed or bonus-linked benefits. Mutual funds are market-linked with no cover and higher potential variability.
Only components stated as guaranteed in the policy. Bonuses and ULIP values are not guaranteed.
Often after a lock-in or minimum period through partial withdrawal, loan or surrender, subject to terms.
Savings plans are meant for the long term, often 10 to 25 years. Choose a term matching your goal.
It may be exempt under Section 10(10D) subject to conditions, such as the premium-to-cover ratio and aggregate premium limits.
A five-year period during which units cannot be surrendered or withdrawn, except in specified cases.
Check the grace period, premium-paid-up options and revival possibilities.
Plans with waiver of premium and payouts timed to admission years are common; we can help you compare.