ULIP – A spice added Life Insurance policies
How many of us have heard the name of ULIP? To be frank, only 50% people investing in insurance schemes seem to be interested in this name. Why? lack of information, most likely.
Most of us, which we classify which we define as the working class believe in the taking of a life insurance policy within a couple of years of work. But just as the core buyers we still believe in redemption or guaranteed return policy. We are afraid to dive in what is called the stock market – one of the main reasons why we do not prefer ULIP.
Indian stock market has changed after Episode Harsad Mehta. IRDA has become more strict in its policies and the way of keeping an eye on the insurance industry growing. What better say about the insurance industry that people are increasingly relying on private insurance companies like ICICI Prudential, HDFC Insurance and Life Insurance Aegon. While many people are not putting their future on gimmicks. It is a story about it that makes people follow the air year after year.
So what happens when you take a ULIP? ULIP is essentially unity related insurance plans in which the premium you pay is put to the BSE and NSE listed companies. Some of them are even companies Fortune 500. Often, money is divided into three categories – Full Plan (Totality of the premium goes stocks), half of equity (premium 50% goes to the market) and equity part (only a certain percentage of the premium, or 20% goes to the stock market). Depending on the amount of money you want to invest, you can take ULIP plan. These policies also give you the opportunity to choose your own portfolio is, you can choose the companies you want your money Thurs.
ULIP are good in the sense that they give a better performance against policies traditional insurance as money. If invested wisely, after discussion with your insurance advisor, you can generate a good amount of benefits monetary. Once you hire the service, you can use to pay your next premium. This on the other hand, some relief from your heavy shoulders.
So if you have not invested in ULIP uptill now, then you should invest in a ULIP policy, today …
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