You probably hear about Ulip.
Ulip- Unit Linked Insurance Plan.
The Ulip plans give both monetary security and life coverage.
Whereas investing in a Ulip pension policy provides high returns.
Even a unit-linked insurance plan(Ulip) would be a good option.
Ulip(Unit-linked Insurance Plan)
is a combination of insurance and investment plans.
While younger investors may buy a Ulip, older investors should avoid them.
It is imperative to understand that Ulip is a long-term investment product.
Ulip neither gives an adequate life cover
nor offers a great investment opportunity.
Ways in which Ulip lock-in period helps you invest for long-term goals.
Unit linked insurance plan(Ulip) is a hybrid product,
a combo of protection and saving.
Not only that but also an investor can choose from the Ulip options.
All the types of plans mentioned above can be offered under Ulip plans.
Suppose that a person takes a whole life Ulip at the age of 40.
Ulip is not a financial product which can
provide you with an adequate insurance cover.
Now get the protection and wealth-creation benefits of a Ulip, with just a single payment.
This means that the sum allocated to the Ulip is less in the initial years.
Ulip is suitable for young people who are ready to invest and
take the financial risks.
Being an investment-cum-insurance policy, Ulip is among the most productive options to choose for investment.
Rest of the plans that come under the same are-endowment plan,
money back plans, Ulip, etc.
In short, a Ulip plan is a combo of insurance
and investment product at the same time.
There are several Ulip plans that provide money in small chunks
in the key events of your children's life.
Since Ulip is an insurance policy,
failure to pay regular premium would result in termination of the risk cover.
Compare Ulip products of different insurance companies in terms of premium payments,
scheme performance, additional facilities and cost structure.
A Ulip can have a duration of 15
or 20 years or more but the lock-in period is 5 years.
From the easy to understand Ulip NAV to the historical returns,
the numbers help pick the best Ulip plans easily.
When you have selected a Ulip(Unit related insurance plan),
the expert will make certain that your investments are performing nicely.
If you have chosen a Ulip(Unit linked insurance plan),
the expert will make sure that your investments are performing well.
If a customer wants to buy Ulip with the rider, he may take the permission of the additional premium.
A Ulip can have a duration of 15
or 20 years or more but the lock-in period is five years.