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New Year resolution - what better than a smile for life?

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December 17, 2018
With New Year round the corner, this is an occasion for planning a whole new set of things that you wish to do in the coming year. Among these things, one factor that impacts how you plan is how you are resolving. New Year resolutions are your way of expressing how you think about welcoming new changes in your life with the advent of the new calendar. One of the best New Year resolutions is to let go of financial worries and put a smile on the faces of those whom you love and whose future you wish to secure forever.

Among the steps that you can take for relieving your financial burden is to take out an insurance plan that gives significant coverage against uncertainties of life. You must make a list of your long term and short term financial goals and must prepare accordingly. You can log on to the official portals of various insurers and check the plans that are on offer. However, before doing so, you must know what exactly you are looking for. You may already have the coverage of life and health insurance and may be thinking in terms of investment. After all, if together with insurance coverage you can get investment benefits, it would an icing on the cake! This is where the benefits offered by ULIPs (Unit Linked Insurance Plans) come into centre stage. A ULIP is a market linked plan that serves as a joint platform for investment and insurance and gives you the benefit of both.

ULIPs offer extensive benefits and come with various features that ensure financial growth and security. The premiums that are paid by the policy subscriber are channelized separately towards the two parts of maintaining the insurance corpus and the investment options. There are multiple investment fund options from which you can choose as per you wishes and in line with your risk appetite. ULIPs are extremely flexible and give a lot of scope for your personal preferences. Free switching between various fund options is allowed (with an upper capping of up to 10 free switches). If the upper capping of switches is exhausted, a nominal fee is charged for every fund switch. This means that you can always change the fund option to your benefit and as per the projected market performance of a fund. This not only saves your funds from market risks but also allows you to choose wisely for further growth.

To top it all, ULIPs offer tax benefits on payable premiums and withdrawals from the corpus (after the lock in period of five years). These tax benefits exist as per Sections 80C and 10D of the Income Tax Ac, 1961. Furthermore, as per government mandate, ULIPs have been exempted from the purview of LTCG (Long Term Capital Gains) tax and therefore, you enjoy tax benefits while your funds grow at a stable rate. Therefore investment in ULIPs means insurance coverage, investment benefits and tax benefits as well. So, this New Year make a resolution to invest in ULIPs and plant that smile on the face of you loved ones.

HDFC Life offers HDFC Life Click 2 Invest ULIP - an online plan that comes at economical rates and offers market-linked returns for your overall benefit. For details, click on the mentioned link: https://www.hdfclife.com/savings-plans/sanchay-plus .  

 

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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