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ULIP

It is a combination of investment and insurance. A part of your money is put in the market.<br><br>https://www.sbilife.co.in/en/online-insurance-plans/ewealth-insurance

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ULIP

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  1. ULIP PLAN

  2. What is a ULIP Plan? It is a combination of investment and insurance. A part of your money is put in the market. You can make the choice of investment based on your risk appetite. This is called NAV. The rest of the funds is used to provide life insurance.

  3. Types of ULIPs in India • Equity Funds – These invest in high risk instruments like company stocks and equities. • Cash Funds – These have the lowest risk and the money is invested in cash and bank deposits. • Fixed Interest Funds – Here, the money is invested in corporate and government bonds. These are less risky avenues as well. • Balanced Funds – These ULIPs invest across asset classes. So, they can have stocks, bonds and money market components in a single portfolio.

  4. Myths About ULIP Plans • ULIPs are extremely costly. • They do not offer good returns. • ULIPs do not allow surplus fund investment. • They are risky, since ULIPs provide market-linked returns. • ULIPs cannot be surrendered before maturity. The opposite of all this is actually true.

  5. Benefits of Investing in ULIPs Today • You can choose an appropriate plan, according to your risk appetite. • You can choose partial investment for unforeseen events like coronavirus treatment. • The premiums are tax exempted, which helps you save significantly on taxes. • You get to build a disciplined savings habit. • They ensure the utmost transparency in terms of charges and expected return rates.

  6. How to Calculate ULIP Premiums? • The easiest way is to use a ULIP calculator online. • You can use this online calculator to know how much you need to invest to achieve your financial goals. • The basic information needed to calculate the premiums are usually frequency of premium payment, type of fund, rate of return and investment duration.

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