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Savings Management using ULIPs - Tips and Tricks

September 25, 2018
Management of savings and building upon the savings options is one of the basic parameters of a healthy financial life for any person. The addition of the possibility of complimenting savings in order to create more funds is even more pleasing! Yet, the question is – how to manage savings in such a way that the ideal of wealth creation is achieved? There are numerous investment options available in the market today and though this implies a broader flexibility, this also means that the chances of a lax investment increase, if proper research is not done into the subject.

To understand the greater possibilities of investment, it is imperative that you must accept the fact that some measure of a calculated risk-taking is involved only for aggressive investors or venture investors. However, same may not be true of the traditional or conservative investors. The defining line in any case is the end-goal of the investment in sight. Whether you are investing for a regular, steady income after retirement (a long term gain) or for an impending responsibility e.g. planning children’s wedding (a short term gain). You might also be thinking about resource-building or asset-creation through investment, which can be a short term or a middle term requirement, depending on the plan of action, urgency and the capital involved etc.

In any of such cases, the idea behind wealth creation may not necessarily focus on SIPs (Systematic Investment Plan) or channeling of capital in Mutual Funds, even though relative benefits may seem numerous. Then there are the other important clauses like safety of investment, quantum and frequency of returns. A major factor that must never be ignored is the risk cover. A SIP may not be the choice when it comes to providing a life risk cover as well as investment benefit. For such a purpose, a ULIP (Unit Linked Insurance Plan) comes to the rescue. It acts as a comprehensivecombi-plan, bolstering your savings while covering the risk factor in detail. A ULIP allows you the freedom of continuous investing for future returns, while ensuring the financial stability of you and your loved ones. Besides attracting benefits under Section 80C, ULIPs act as capital reinforcements with flexible terms. Moreover, up on maturity, such a regular investment can become the effective channel for wealth creation as well.

HDFC Life presents HDFC Life Click2Invest ULIP- online unit linked insurance plan – that best caters t your investment needs while ensuring that your savings and capital gains remain safeguarded from risk. This plan ensures the financial protection of your loved ones and besides, charges you minimally for this.

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