MoneyLens / Life insurance & savings
Your policy, explained.
ULIP · Tungabhadra Wealth Plus · Tungabhadra Life Insurance Ltd · ••••1953
Illustrative
ULIP · Policy held
Started1 Aug
Fund value
₹2,58,000
on 30 Sep 2026
Paid in
₹3,60,000
3 years of premium
Lock-in
To 1 Aug 2029
money paid out after it
Life cover
₹12,00,000
A unit-linked plan (ULIP) from Tungabhadra Life Insurance Ltd: ₹1,20,000 a year for 10 years, over 15 years, with ₹12,00,000 of life cover. What it pays at maturity is the fund's value then; nothing on maturity is guaranteed. That's about 1.87% a year in the 4% illustration, not guaranteed. The 4% and 8% figures are illustrations IRDAI requires, not forecasts.
Myra's most important observations
What Myra found for you
From your documents · each figure opens its findingAt risk
If it happens: scenarios, not added together
Six questions, answered
Tap an answer for the detail01Product identity
- PlanTungabhadra Wealth Plus
- InsurerTungabhadra Life Insurance Ltd
- KindULIP
- Started1 Aug 2024
- StatusIn force
- Policy••••1953
- DocumentsPolicy schedule · Benefit illustration · Unit statement
02What this is
A unit-linked plan (ULIP) from Tungabhadra Life Insurance Ltd: ₹1,20,000 a year for 10 years, over 15 years, with ₹12,00,000 of life cover. What it pays at maturity is the fund's value then; nothing on maturity is guaranteed. That's about 1.87% a year in the 4% illustration, not guaranteed. The 4% and 8% figures are illustrations IRDAI requires, not forecasts.
03Key numbers
Policy heldPremium a year
₹1,20,000
for 10 years
Policy term
15 years
to 1 Aug 2039
Life cover
₹12,00,000
10.0× the premium
Fund value
₹2,58,000
30 Sep 2026
Real return a year
1.87%
in the 4% illustration, not guaranteed
04Important findings
Most important first · tap to expandIRDAI requires the death benefit to be at least 7 times the annualised premium at entry age 31 and 105% of the premiums paid. ₹1,20,000 a year buys ₹12,00,000 of cover here; the "Term + invest" studio sets this beside cover bought on its own.
Policy p.1, Policy · Policy p.1, Premium
08What Myra could not verify
1!
Premiums on your other ULIPs issued from Feb 2021
Needed to confirm a finding
09Suggested questions
05What you're committing to
- ₹1,20,000 a year for 10 years
- The money stays in for 15 years
- The fund's value rises and falls with the market
06What can change
- Fund valueMoves with the funds you choose
- ChargesMortality charges rise with age
- SwitchingYou can move between the plan's funds
07Leaving early
- In the first 5 yearsMoves to a discontinued fund, paid after the lock-in
- After 5 yearsWithdraw or surrender with no charge
- Free look30 days from receiving the policy