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Know how ULIP helps you save for long term goals

ULIPs can be great wealth creating tool for the long term because of the diversity of funds offered. And they are ideal for those who want to start young to ride on the equity advantage. To know more visit Edelweisstokio.in today!

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Know how ULIP helps you save for long term goals

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  1. With Unit Liked Insurance Policy Know how ULIP helps you save for long term goals

  2. Let us first know what is ULIP • Unit Linked Insurance Policy also know as ULIP provides benefit of investment as well as insurance under the same plan • The premium can be paid either monthly or annually • The insurance company invests a part of premium in shares/bonds, etc. and the remaining part is used as an insurance cover for the policyholder • Not many know that premium paid towards ULIP is eligible for a tax deduction under Section 80C of the Income Tax Act, 1961 = Life Cover + Savings + Tax Benefit

  3. Benefits of ULIP

  4. Long Term Benefits of ULIP • ULIP has a lock-in-period of 5 years, which inculcates the habit of discipline savings • ULIP has the potential to gain better returns as the insurance amount is divided into two parts i.e. Investment in Equity/Debt and the remaining for life insurance cover • ULIP has the flexibility of changing funds. Usually four switches a year is allowed free of cost • It provides dual advantages i.e. life insurance cover and tax benefit u/s 80C • With a change in investing pattern, choosing a market-linked instrument like ULIP makes sense for new investors

  5. Why should you choose ULIP • Investments in ULIP can be customized to your preferences. • You can choose the funds to invest in based on your risk appetite. • Investors seeking lower risk may opt for debt funds while equity investments are desired by investors with higher risk. • Moreover, you have the flexibility - you may switch between funds based on circumstantial dynamics so that you do not miss out on better performing funds. • ULIPs are suitable for every investor who is willing to take a little risk in meeting his medium and long-term goals.

  6. Thank You!

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