How does one select the right ulip?

Standard

ULIP

ULIP stands for Unit Linked Insurance Plan. A United Linked Investment Plan (ULIP) is an instrument which combines the security provided by an insurance plan with the opportunities provided by an investment plan. It is a unique product which aims to integrate insurance as well as investment requirements. Its structure is similar to that of a mutual fund. This is how it works :

  • You pay a periodic premium to the insurance company
  • A part of the premium is used to provide you with an insurance cover
  • The remaining amount goes to equity or debt market
  • In the event of death, nominees are paid the sum assured
  • In case of maturity of the policy total value of the fund will be paid to the policy holder

5 steps to select right ULIP

We present a 5-step investment plans that will guide investors in the selection process and facilitate them to choose the right ULIP.

  • Understand the concept of ULIPs
  • Focus on your need and risk profile
  • Compare ULIP products from various insurance companies
  • Go for an experienced insurance advisor
  • Does your ULIP offer a minimum guarantee?
  • Read the fine print before investing in ULIP

Things to keep in mind while Selecting a ULIP

  • Buy insurance for risk cover
  • Do not consider insurance as an investment option
  • Preferably buy only a term policy
  • Do not prefer savings-linked insurance policies
  • Remember not to be carried away by persuasive agents and publicity.
  • Buy ULIP only if your horizon is long term.
  • Not insure yourself if you are a lone bird.
  • Do not insure if you are wealthy.
  • Do not insure the child
  • Read the fine print carefully

For More Information on How does one select the right ulip? Click Here

Or Give Us a Missed Call On 022 – 62116588

Or Download Our Moneymindz Financial Freedom App

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s