Benefits of ULIP and Reasons to Invest In It
All this holds true for an investment too. Why do you invest? So that you get good
Financial returns. Not just that, you save on taxes too. Isn't it so? Thus, it is essential that you invest in an entity that will give you benefits in the long run and also, be flexible as per your needs in the short run.
Unit-Linked Insurance Plans (ULIPs) are one such investment avenue that can fetch you good returns and at the same time, give you a life cover. It acts as your insurance provider and also helps you invest in equities of your choice for long-term needs. So, as a policyholder, a portion of your premium provides insurance cover to you, while the remaining portion is invested in equity and debt instruments.
ULIP advantages: The three D's
- Double bonus:
The double benefit of insurance and life cover makes it a unique investment. This dual role helps not just the policyholder, but also its dependents especially in the case of untimely death - when a claim is paid to the nominee on the sum assured.
Let's not forget the tax benefit under section 80C as well as the exemption on all payouts under section 10D of the Income Tax Act, 1961.
- Durable and flexible:
A great long-term investment option as you have the choice to put in your money where you want, and where you see the potential for it to grow. Further, you will get a better return in case you wish to withdraw from it say five years down the line. The return will be much more than what you may have got in a savings bank account.
In the wake of Long-Term Capital Gains (LTCG) tax making a return from the financial year 2018-19, ULIPs - a complete package in itself -- can be your preferred choice of investment as there is no such tax levied on long-term capital gains under the investments in ULIPs. Thus, with your investment objective such as child education, marriage, buying a house -- in place, you can invest in a ULIP-based plan that can ensure your wealth grows at the time of maturity.
- Things to Know About ULIP Plans
- 4 reasons why ULIP plans are a must have in every Jeet's portfolio
- Financially prepare for the unpredictable
- ULIP Vs Pension Plans - Which is Better for Retirement?
- Different Types of ULIP Plans in India You Must Know
- Different types of ULIP funds
- How do ULIPS meet your insurance and investment needs
- All You Need to Know about ULIP Charges
- 4 Reasons to Invest In ULIP Plans Today Itself
- Why ULIP is Good Investment Option During COVID-19?
- Switch Investment Mix with ULIP
Income Tax Slab 2021-22
February 17, 2020
Income Tax Return Guide - Details You Should Know
November 07, 2016
Best Tax Saving Investment Options in 2022 (FY 2022-2023)
November 08, 2016
Subscribe to get the latest articles directly in your inbox
14 Best Investment Options In India
October 30, 2018
Short Term Investments: Top 11 Short Term Investment Options For 2022
November 08, 2016
Insurance vs Investment - Did You Get the Right Financial Plan?
November 05, 2018
Popular & Recent Articles
How to Plan for Retirement as Per your Age
"The thumb rule for retirement planning is - the earlier you start, the more you save. However, with age, your priorities change too. So, you need to factor in the cost of living in the present vis- a -vis future."
HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.
Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: [email protected], Tel No: 1800-266-9777 (10 am to 7 pm). The name/letters “HDFC” in the name/logo of the company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.
For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale.
|BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRAUDULENT OFFERS