How to Choose the Best ULIP Plans For Investment

 How to Choose the Best ULIP Plans For Investment

Everybody wants to be financially self-sufficient for the betterment of their future. Without financial stability, it is impossible to lead a stress-free life. For this purpose, not only you need to start investing early but also need to have insurance for securing your family in the long-term.  

Tell us, have you come across a plan or policy that combines the best of investment and insurance?

If not, then look no further!

The Unit Linked Insurance Plans or the ULIP plans are intended to grow your investments. ULIP is one of the best plans that provide you options for investment as well as insurance. Here, your premiums will be utilized efficiently to provide you the utmost benefits. 

How Can ULIPs Bridge This Gap?

Your ULIP plan will use the premiums both for insurance as well as investment purposes. It provides you the flexibility of choosing the percentage of premium that you wish to invest in your chosen funds. Most of the ULIP plans tend to work on the primary principle of maximizing your wealth potential and providing complete life cover. 

The amount allocated for investment is based on what you want – whether you want the investment to be conservative or risky. Based on this, you can either choose to invest in equity, debt instruments or both. The remaining premium amount is utilized for life cover. 

What Makes Finserv Markets Exemplary?

Keeping the benefits that ULIP plans offer, you can move on and start looking for plans provided by different companies. However, chances are that during your research you might hit a snag. You will learn that most ULIP providers are expensive – having numerous hidden charges such as allocation charges, switching fund charges and more. 

Before you quit searching, take a look at Bajaj Allianz ULIPs available on Finserv Markets. They guarantee transparency during the entire process. Thus, you are aware of what you are paying and how the funds are utilized. 

Transparency is the most important factor and hence it is essential that your chosen provider clearly mentions the following charges before you buy the ULIP plan.

  • Premium Allocation Charge
  • Policy Administration Charge
  • Fund Management Charge

With your ULIP plans, you can also avail a variety of tax benefits in the form of deductions and exemptions under the Income Tax Act, 1961.

Take a Step to Invest

The Internet has certainly made life easy. You can simply filter and find all the information that you need on any products and services at any given time. Also, there are many websites that help you compare different products and policies. With its help, you can choose a plan that is best suitable for your needs.

Take a leap! Make the right choice by investing in schemes that are bespoke to your requirements. Moreover, make sure that you are making sensible decisions that will further help you achieve financial stability.

Elyse Sanford