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Ulip plans offer flexibility of market linked returns on investments & life insurance cover for you & your family. Ulip offers you best Tax Benefits.
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ULIP or unit linked best Ulipinsurance policy is a type of insurance. What set this apart from pure insurance policy is the fact that it not only offers you coverage for the specific tenure but also make an investment within the same plan. This dual formula is what makes ulips popular among people.
With the rising cost of living, especially health care expenses, and other luxuries that you wish to indulge in, it is extremely important to plan your finances. If you have a family that depends on you for their financial needs, it becomes more logical to have a plan in place before it gets too late. This is where a plan as excellent as ulip comes into picture. What better than having a coverage and market-linked investments at the same time? Unforeseen events or expenses can be well taken care of with the help of ulip plan.
There are some points to remember before you approach the right company for a unit linked insurance plan. The basic idea that goes behind best Ulip insurance policyare that some part of your premium are invested into qualified funds while the rest ensure the coverage aspect. The other crucial factors that play a role include:
Tenure: Ulips are not short term plan. So if you intend to invest in middle to long term plans, then a ulip plan is meant for you. The tenure may range from a minimum 5–7 years up to 99 years. The tenure range may vary from company to company.
Premiums: The payment of premiums is flexible. Whether you wish to pay on a monthly basis or annual, you have choices laid in front of you. This just makes the whole process extra-convenient.
Investment: Several companies offer a range of investment options. You can invest in cash funds, equity funds or debt funds. Moreover, you may also shift from one to another investment option.
Customization: The company that you choose should be able to offer you personalized choices while you create your plan. Best Ulip Insurance Policy plan should provide you with death benefit and maturity benefit as applicable.
ULIPs are beneficial when it comes to retirement planning. You can create wealth to look after major expenses like your child’s education and marriage, illnesses and also your financial health once you retire. Thanks to the advent of technology, lot of the formalities and follow-ups can be completed online. This saves your time and the unnecessary hassles of running around offices. Compare information online as most of the financial institutes have their websites and offer exceptional customer service.