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Is ULIP a Best Investment Plan?

November 16, 2018 1515
Investment and insurance-these two financial support systems have long been thought of as two varied coverage plans for different aspects. However, ULIPs are the bridging platforms for both. A ULIP (Unit Linked Insurance Plan) caters best to both your insurance and investment needs by dividing the premium into different channels for both. One part of the premium goes towards insurance coverage while the other goes as an investment towards a particular, pre-decided plan. Any investment is based on the fact that we all want good returns. When viewed from this perspective, ULIPs offer market-linked returns on stocks and if the stock performance is good, the returns are directly proportional. ULIPs have numerous advantages over the traditional investment schemes and one among these is the flexibility provided. Investing in ULIPs offers the advantage of fund switches as per your choice, depending on how the market functions and how a particular fund performs over the others. This implicitly allows you to gain high returns on your investments.

Most traditional plans comply with debt investment standards and do not offer any equity-based options. This makes them better suited for low-risk appetite investors. However, ULIPs offer debt and equity investment options, thereby serving your risk appetite as well as giving you the option to "play it safe". In fact, ULIPs come with a range of debt, equity and balanced option - plans and you can switch as per the current ongoing trend in the market. This not only secures your investments but also allows you to freely switch your monetary investment channels between various funds so that there can be an assurance of higher returns.
 

Buy ULIP Plans

 

Moreover, the option of changing your life cover is an added benefit of investing in ULIPs. A ULIP allows you to choose the sum assured at the time of policy purchase and follows it up with giving you the option of changing the sum assured as per your financial goals or as per your specific requirements. Besides, investing in ULIPs means a disciplined and regular saving habit and this is a must for planning things well in advance and for meeting required financial goals. With a lock-in period of 5 years, ULIPs come with the factor of goal-based savings. Also, ULIPs allow the partial withdrawal from the invested corpus by giving you the option of withdrawing a portion of your investments in case of emergency situations. But unlike many other investment options, ULIPs allow you to withdraw a portion of the investment after a specified lock-in period. Make sure you find out how much you are allowed to withdraw because the exact amount you can withdraw varies between different companies. The best part is these withdrawals are completely tax-free.

As per the latest government guidelines, LTCG (Long Term Capital Gains) taxation is not applicable on returns from a ULIP. This adds to the existing guidelines wherein you can avail tax deductions up to Rs 1.5 Lakh on premiums paid towards investments in ULIP. Moreover, all the returns on your ULIP investments are completely tax - free.

 

INVEST IN ULIP NOW

 

HDFC Life presents HDFC Life Click 2 Invest ULIP- an online, unit linked plan that offers market-linked returns, covering your investment needs and proving the requisite financial protection at the same time. For details, click on the mentioned link: https://www.hdfclife.com/savings-plans/sanchay-plus

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