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Types of ULIP Plans

Planning to invest in ULIP? Know what are the different types of ULIP plans and which one is the best for you to secure your financial future in the long run. Read more!<br>

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Types of ULIP Plans

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  1. Types of ULIP Plans

  2. ULIP Plans Due to the many advantages ULIPs provide, they have recently become more and more popular. As consumers become more aware of them, they are turning to ULIPs to suit their financial demands. Financial planners and CAs are both advising ULIPs due to their flexibility and myriad benefits. You can employ ULIPs of a variety of forms, both short-term and long-term, to achieve your life goals. Each of these ULIP variants is created with a certain group of investors in mind.

  3. We will tell you some of the most popular ULIP Plans and who should buy them: • Here are some of the types of ULIP Plans - • Equity Funds- These particular ULIP funds invest in high-risk assets like stocks and shares. Among all ULIP kinds, the returns on equities funds may be the highest. For individuals who can afford to take risks, these funds are available. • Who are they for? - You can invest in equities ULIPS if you're young or just starting out and don't mind taking risks. Even though the risk is higher, there's a chance you'll get better rewards. • Fixed Interest Funds- These unit-linked insurance plans, also referred to as income or bond funds, put your money in relatively low-risk assets including corporate and government bonds. They are for investors who want a low- to medium-risk choice. Although you can get good returns, they usually aren't as high as those of equity funds. • Who are they for? - You can choose fixed-interest funds if your risk profile is intermediate. Although there are fewer dangers than with stock funds, there is still potential for large gains. • Cash Funds- Your funds will be invested in cash, bank deposits, and other money market instruments through these ULIPs. These are the options that carry the least amount of risk. Cash funds, therefore, have the lowest risk. If you want to invest in something that carries little to no risk, consider one of these funds. You should be aware that the returns are also extremely low. • Who are they for? - Cash funds are intended for people who cannot afford to take risks but are looking for opportunities to make money. • Balanced Funds- ULIPs that invest in many asset classes are known as balanced funds. A balanced fund often has both a stock and a bond component in its portfolio. Even a money market element may be included. These ULIPs are referred to as balanced funds because they strike a balance between growth and income by balancing the equity and debt components. • Who are they for? - These funds are intended for people who desire security, a reliable source of income, as well as a modest possibility to build wealth.

  4. Thank You

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