Ulip is basically a life insurance product that offers risk cover to the insured along with the benefits of investments as well. It offers you the insurance coverage and allows you to invest a part of your premium in qualified investment options that includes stocks, bonds, mutual funds and much more. It is basically an integrated plan in which the investment and protection part will be managed as per particular needs and choices.
The premium which you pay for your unit linked insurance plan is used for building wealth and provides insurance coverage as well. In the starting years of the plan, a large amount of the premium is used for the plan expenses. Later on, the premium is divided into two different segments- investment and insurance.
Units are issued for the amount invested in a fund of your choice; it can be debt, equity or a combination of both. The allocation of the units relies on the performance of the original fund. In the initial 2 to 3 plan years, because of the deduction of high expenses, the value of the fund would stay low.
It is usually classified on the basis of purpose
Under this plan you have to make the payment fo a specific period of time with your employer that is automatically collected as a corpus amount. As an insured, you will get it in the form of annuities after your retirement.
it accumulates your wealth for a specific period of time. This is best suited for those people who are in their late twenties and early thirties. By investing in this plan, they will get the flexibility to fund their financial goal.
There is no doubt in saying that as a parent you want to secure your child and his/her future from an unforeseen event that can ruin their career. In such cases, choose a Ulip for your child that can help them in different stages of their life.
Apart from common benefits, it also provides financial assistance in cases of medical emergency.
PolicyX.com is one of the leading insurance web aggregators that provide free quotes and comparison services. Ulip- unit linked insurance plan is basically a market linked product which combines the finest on insurance and investment. It is a type of investment plan which directly connects to the capital market and provides ease of investing in debt or equity funds as per the requirement. The dual benefit of the plan makes it more attractive as a perfect investment option. Ulip is a very good long-term investment plan.
In 2010, IRDA limited analyzed charges of ULIP plans at 2.25% for the initial 10 years of plan tenure. However, currently many insurers have reduced the additional charges such as commissions etc. Consequently, in recent years, ULIP plans are becoming cheaper as compared to mutual funds. It is advisable to opt for it if you are looking for dual benefits
Here at PolicyX.com, we help you compare the best ULIP plans provided by different insurers in India and assist you in getting the best plan as per your requirement. Ulip is suitable for young people who are ready to invest and take the financial risks. By comparing Ulips at PolicyX.com, you can select from a host of available plans.
By purchasing through PolicyX.com, you don't need to provide many documents. It is a simple documentation process that takes only a few minutes. This portal allows you to get insured from the comfort of your home. It saves a lot of your time and money as well. These are the basic documents that you need to provide at the time of purchase.
PolicyX.com allows you to purchase the best Ulip plan out of all the available options from the top insurance companies. With the available free quotes, you can save your time and money as well. For taking advantage of the same all you need to do is provide some basic details, get free quotes, compare them as per your demands, make payment online along with documents and you are insured under the best plan.
It is an IRDA approved online insurance web aggregator that allows you to choose the best plan for yourself. It allows you to understand the plan thoroughly with the help of useful information, flow charts and videos as well. We at PolicyX.com try to make the whole process easier for you so you can choose the best plan for yourself easily, and without any second thought.
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