What is the maturity period of ULIP?

The maturity period of a ULIP varies based on the specific policy and insurer. Typically, ULIPs offer maturity periods ranging from 10 to 20 years, with some extending up to 30 years or more.

Following are some important points about the maturity period of ULIP:

• Flexible Terms: Many ULIPs allow you to choose your preferred maturity period within the available range.
• Minimum Period: Most ULIPs have a minimum maturity period of 10 years.
• Lock-in Period: Regardless of the chosen maturity period, all ULIPs have a mandatory 5-year lock-in period.
• Policy Term vs. Premium Payment Term: Some ULIPs allow you to pay premiums for a shorter duration while keeping the policy active for a longer term.
• Maturity Benefits: At maturity, you receive the fund value, which depends on your investment performance.
• Extension Options: Some policies offer the option to extend the maturity date if you wish to stay invested longer.