Unit Linked Insurance Plan or ULIP is a amalgamation of insurance along with investment under roof offered by insurance companies. They provide life cover to the policy holder and helps in investing through mutual funds, stocks, liquid funds etc..ULIPs are the plans that invest in the stock market through growth and equity schemes. The investment depends on the investors choices. Policy holder are given units for the premium invested. The hard earned money by the investor is invested for attractive returns. There are various schemes that suits your needs. The investments are long term so, the needs may be long term like retirement life plan, children marriages, a foreign tour etc... ULIPs assure high returns on investments. These investments are subjected to market risks.
The lock in period was earlier 3 years which has now increased to 5 years. The charges are equally distributed in the lock in period of ULIP. The amount you pay is invested in funds that the investor chooses to. It may be in equities or low risk government bonds. Administration charges , fund management charges , premium allocation charges, partial withdrawal charges are deducted from the premium. Policy holder gets units for the amount invested. The premiums paid avail tax benefits. The income earned from these investments are also tax free.
Firstly, under the concept of ULIP. Compare different plans from various insurance companies. Risk bearing factor should be given importance. Unit Linked Insurance Plan(ULIP) is one of the best tax saving option. Go through the dotted lines very carefully . Make a wise decision.
Unit Linked Insurance Plans - Commonly known as "ULIP". It's hybrid insurance product with triple benefits. Before taking the final decision learn all about ULIP investment plans.
ULIP - Find out about some common mistakes consumers make while they are opting for unit linked insurance plans and understand the benefits of choosing the right ULIP plan
Life Insurance Plans - There are various types of life insurance and here is a detailed explanation of the top three types of life insurance plans and their benefits
ULIP investment - Unit Linked Insurance Plan offers dual benefits of insurance and investment. Understand the advantages and disadvantages of ULIP.
ULIP Plans - ULIP investment plans are gaining huge popularity. Know how ULIP retirement plans are a better investment option than a traditional pension plan.
ULIP provide life cover to the policy holder and helps in investing through mutual funds, stocks, liquid funds. Know the benefits and types of investment funds under ULIP.