You would like to buy a product which offers both insurance and investment options in one package. Moneymindz India’s Best Free Online Unit Linked Insurance Plan (ULIP) Insurance Financial Advisory Portal advice that ULIPs are great options for those looking for insurance and investment options in one package.
Different people have different needs. Some people would like insurance and investment products in a single package. India’s First Free Online Financial Advisory, Moneymindz says that ULIPs are suitable for such people as they offer insurance cover apart from giving investment returns.
What are Unit Linked Insurance Plans?
ULIP is a product insurance companies offer to investors as both insurance and investment products, unlike pure policies. In other words, ULIPs provide investment returns as insurance amount to beneficiaries. Moneymindz India’s Best Free On-call Unit Linked Insurance Plan (ULIP) Insurance Financial Advisory Portal informs you that a policyholder of ULIPs can pay a premium monthly or annually and a tiny amount of the premium goes to secure life insurance while the rest of the money is invested like in a mutual fund.
Features of Unit Linked Insurance Plans
- Double benefits of I-I
ULIPs provide protection to your family (insurance) and provide returns on investment portion at the time of maturity.
ULIP funds permit their customers to have the benefit of EEE mode. The customers are eligible for tax deduction during the investment, earnings and withdrawal stage.
- Lock-in Period
The minimum lock-in period is 5 years. As per the policy Terms and Conditions, this period can be extended too.
Merits of Unit Linked Insurance Plans
You have an option called partial withdrawal which permits you to withdraw a part of the money invested in your policy in ULIPs for immediate or urgent expenses.
- Life cover
ULIPs are offered by Life insurance companies. They fulfill investment needs and insurance protection. The amount of premium you pay is separated for insurance and investment purposes. You hit two birds with one stone.
- Invest your surplus
Surplus money from bonuses, raises, rent, other investments, etc. can be put into ULIPs so that you earn better returns.
- Long-term investment option
ULIPs are optimal for investors looking for long-term wealth creation as the returns are linked to the stock market. You can create more wealth if you stay for the long term.
These are just a few things you need to know about ULIPs. For more information visit www.moneymindz.com or give a missed call to 022-62116588