What is Unit Linked Insurance Plan (ULIP)?
What is Unit Linked Insurance Plan (ULIP)?:- The unit linked insurance plan (ULIP) is a product related to life insurance that helps by providing risk cover for the policyholder and it also helps in saving money for future uncertainties. In this life insurance plan, the policyholder not only gets the risk cover but also the opportunity to invest in any Mutual Fund, stock or Bond. It is a single integrated plan and allows the holder to manage the investment part and production part according to his/her desires.
This unit linked insurance plan (ULIP) is a perfect combination of your life insurance as well as investment. In this life insurance plan, they utilize one paid part of your premium to cover your insurance and the other portion goes towards various investment schemes chosen by you. You will also find an option to select funds, according to your desires and budget. When it comes to getting this insurance plan, you should first choose to compare online investment plans. With this comparison, you will be able to pick a perfect plan that has the optimum balance of life insurance cover and investment according to your needs and choice.
Advantages of Unit Linked Insurance Plan (ULIP):
If you want an integrated plan that has an ideal blend of life insurance cover as well as some market investment, this unit linked insurance plan can be your top choice. By picking up this life insurance plan, you will avail the following benefits from it:
By getting this insurance plan, the policyholder will get the opportunity to make some earnings and market linked returns. In such life insurance plans, one part of your policy’s premium is invested in the markets and stocks. This makes it a highly beneficial life insurance plan for the people who want to earn some quick money from their life insurance plans.
Get the Life Protection as well as Savings
In this plan, you will find dual benefits. You will not only the benefits of a life insurance plan in this plan, but also an option to invest in the market and make some profit out of the premium that you pay. With this investment, you will find an opportunity to invest one part of your policy premium according to your requirements and earn higher returns. You can know more about these twin benefits by deciding to compare investment plans.
A Flexible Life Insurance Plan
In unit-linked insurance plans, you will find various kinds of flexible options. It is one of the best and most flexible life insurance plans that allow you to make changes in your investment funds according to your ever-changing requirements. You will also find the option of partially withdrawing the money from your fund as per given conditions and this flexibility makes it one of the best online investment plans.
If you are searching for a plan that can help you in making some regular savings, this life insurance plan is the one you should concentrate upon. In this plan, you will find a key to make some long-term financial planning for your family’s glorious future. By paying insurance premiums on a regular basis, it will become very easy for you to enjoy various benefits of savings for your family.
Various Tax Benefits
If you are choosing unit linked online investment plan, you will also find tax benefits up to 1.5 lac rupees on the premiums of insurance under IT Section 80C. The earnings that you get by investing in such plans are completely free from any kind of tax. The policyholder will also find maturity benefits with this investment plan under section 10.
Opportunities for Growth
With this unit linked insurance plan, there are some amazingly good opportunities for initiating financial growth. You will get good earnings with higher returns from debt funds. With these investment plans, you can easily achieve your goals like buying any car or home as EMIs would be very easily payable. You can also use this saved money to invest in your kid’s better education and to achieve other goals that you have set in your life.
So all these advantages and benefits make it one of the best investment plans as the dual benefit of life insurance as well as an investment is something very uncommon.
If you are also looking to get this unit linked insurance plan, you will find options to get it from the Internet too. At these websites, you can easily pick the best plan that suits your requirements and budget by comparing various plans. Contacting various insurance companies and to get the best investment plans quotes will become an absolute cakewalk once you have conducted a comparative study of the plans on the Internet. If you are searching to get the best benefits of a life insurance plan and to make some savings for your future at the same time, you just need to go with this plan.