Choosing the Best ULIP Plans to invest – know the Key features
The purpose of ULIPs is not only to provide investment opportunities; best ulip plans can become your other source of income, which can help you increase your family income. Along with opportunities to grow your wealth, it also benefits you from life cover.
To take advantage of best ulip plans intelligently, one has to understand its other benefits as well, so let’s understand other benefits of ULIPs –
- Switching Funds – This is an option through which you can easily transfer your money between debt funds and equity without any hassle.
- Premium Redirection – Through this option, you can easily invest any of your future premiums in any fund of your choice other than your main or base fund.
- Fractional Withdrawal – With this option, you can easily withdraw your money in parts as per your requirement.
- Refill – This option allows you to invest your surplus money multiple times in your existing policy; that is, you can invest as many times as you need.
We advise you to read the product brochure carefully and wisely to understand all the available benefits under your policy.
The better you understand the brochure, the more you will be able to take advantage of best ulip plans, and at the same time, it will be easier for you to make the right decision.
ULIP – Dual benefit of insurance and investment
ULIP (A Unit Linked Investment Plan) is a truly standard investment tool. Extensively required after presenting the twin benefit of investment & insurance, best ulip plans aid investors financially protect their families besides variability that could happen after the policyholder’s unfortunate death.
In ULIP, it is significant for one to reflect their precise necessities & the capacity to pick the level of Risk they can knob previously making a decision.
A ULIP, or Unit Linked Insurance Plan, is a life insurance policy that permits you to grow your investment by capitalizing in monetary markets through providing life insurance protection.
The Best mode to take ULIP policy
To pick the best ulip plans for yourself, you need to compare policies & choose the one that charges you the nominal amount in the premium provision, mortality, policy and fund management cares.
Choose ULIP Plans According to your goals and Risk
ULIP plans open up an investment option for you that is a combination of both equity & debt. Generally, the difference between equity and debt is that – equity funds give you high growth potential for a longer period, whereas debt funds work to keep your money safe.
You can choose between equity and debt for investment based on your risk appetite and needs.
Grow tax aids
Get tax benefits at altered phases of your life insurance policy. Also, according to the IT Act 1961; you truly save taxes on your hard-earned money by best ulip plans.
- Entry Benefit
- Earnings Benefit
- Exclusive Switching Benefit
- Exit Benefit
What to choose – Life Insurance or ULIP?
Investing in ULIP plans will be beneficial if you want to achieve long-term financial goals in your life. In contrast, life insurance ensures that your family does not suffer financial constraints at the time of your sudden death.