Risk cover age: The minimum age at entry is 0, however the risk commences from the age of 7. Minimum age at entry for all riders is eighteen. Maximum age at entry is 65 years (50 years in case of all additional rider benefits).

Minimum premium: The minimum annual premium is Rs 15, 000, Rs 7,500 for half yearly and Rs 3,750 and Rs 1,250 for quarterly and monthly modes, respectively.

Comment: ULIP products are best suited for investors willing to pay regular premium for at least seven to eight years to breakeven, given the higher charges paid in the early years.

Assuming the fund generates a return of 6 per cent, the net realisation will be between 4.5-5 per cent ; if it generates a return of 10 per cent, the yield will be in the range of 8.5-9.0 per cent for a ten-year policy period.

Sum assured (SA): The minimum sum assured is five times the annualised premium and the maximum SA is the policy term multiplied by the annualised premium. For other riders such as critical, hospital cash benefit and family income benefit, it is five times the annualised premium.

Comment : It is advisable to opt for higher cover for those who do not already possess adequate insurance cover. The risk premiums on ULIP products are far lower compared to a term insurance plan.

In ULIPs, there is no level premium for risk cover; in other words the premium increases with age. Since the charges in the first few years in a ULIP remain high in any case, investors might as well go for a higher cover.

Death benefit: On death anytime between the age of seven and before the age of 60, the benefit payable would be the sum assured less value of partial withdrawals made in the last 24 months prior to the death or the fund value as on date of the intimation to the company, whichever is higher; On death above 60 years the amount payable would be the sum assured less all the partial withdrawals made within 24 months before attaining the age of 60 and all partial withdrawals made after attaining 60 years or the fund value whichever is higher.

Investment options: There are seven investment options in the fund, from low risk option to high risk. Under low risk option, 100 per cent of the money will be invested in debt and in the high risk options up to 100 per cent will be invested in equity.

Premium allocation rate: For a premium of up to Rs 99, 999, 80 per cent of the money will be invested in the first year. The investment would increase to 94 per cent in the second and third year and 98 per cent between the fourth and tenth year. There would be no charges post ten years.