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Fact Check - 4 Reasons why ULIP Plans Should be Included in Your Portfolio

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Fact Check - 4 Reasons why ULIP Plans Should be Included in Your Portfolio
December 31, 2020

Table of Content

 

Meet loves French fries, Jeet prefers baked makhana. Meet thinks his credit card is his BFF (after Jeet, of course), Jeet spends hours convincing his friend to curb his online shopping. Meet loves to flaunt the latest smartphone on the market, Jeet is the one who helps him study the specs and reviews and advises him to space out his purchases.

Meet usually agrees with Jeet's carefully researched suggestions, but 2020 has got to him, as it has to all of us. "It's scary, man," he told Jeet the other day. "I spent a few lakhs on medical expenses for my family, had a 30 per cent pay cut and am not sure my job will last into 2021," he sighed. "I am wary of the stock market, and I am scared of taking up a new job. I worry that I am not adequately insured and that I haven't even started planning for my retirement years," he groaned."I think I shall keep my money in the bank and just stop spending."

"Hey, that's not a very positive way of looking at life," laughed Jeet. "2020 is almost over, global economies are reviving and our own country is showing signs of upturn. In fact, this is the time to scout for good opportunities to upskill yourself, secure yourself for the future and make sure your wealth grows in tandem too!" smiled Jeet. "Do you want to know how I have charted out my growth path for the future with the help of some smart ULIP plans?"

"Since when are ULIPs a great investment idea?" moaned Meet. "All my life I have heard that I am better off without them. Who wants to stay at risk of falling market returns and hidden charges, and then pay taxes on them to top it all?"

"That's exactly why you need to know the real facts about ULIPs, mere dost!" said Jeet, as he sat Meet down for a fact check on ULIP plans and why they should in the portfolio of every smart citizen.

Fact Checks about ULIP Plans

# Smart Check 1

Invest in a reviving economy

Industries are back on their feet and consumer demand is growing again. Fuelled by positive trends in elections around the world, the Indian economy is also looking forward to increased investments and higher returns. Newer start-ups are blossoming, and most companies are rolling back furloughs and pay freezes in an attempt to meet the demands of the post pandemic world. This is the right time to believe in a brighter future and invest in plans that will give you smart market linked returns. Plans like HDFC Life Click 2 Wealth offer you the safety of life cover with returns linked to the market - which means you continue to grow your wealth without worrying about being covered for life.

# Smart Check 2

Take life's uncertainties head on

The pandemic has taught us that nothing in life can be taken for granted. Now is the time for millennials to take stock of their lives, assess their financial position and determine how they wish to meet their life goals. Planning ahead in the face of an uncertain evolving world is the smart way to build up a corpus - be it for building a family, buying that dream home or investing in the car of your choice. A ULIP plan like HDFC Life Click 2 Wealth that lets you earn returns towards these goals, while offering peace of mind with an insurance cover that stays constant!

# Smart Check 3

Stay flexible

Putting all your eggs in one basket is never a smart idea. Monitoring your investment portfolio every few months and assessing where you can get smarter returns is the way to go in a changing world. HDFC Life's Click 2 Wealth allows you unlimited switching of the funds at zero charges, thus allowing you full flexibility.

Also, because there are no additional charges giving you 100% Transparency in your investment, ULIPs like Click 2 Wealth are a sound option to invest in for the long term.

# Smart Check 4

Think long term

2020 has shown us the importance of life, and the loved ones in our life. It has also made us sit up and be aware that while we need to plan funds for our retirement years, we also need to secure our family's future in case we are not around to fulfil their dreams. ULIPs like HDFC Life Click 2 Wealth not only offer options that fetch you tax free* retirement incomes, they also offer premium waiver option in case of your death so that your family can continue to meet their life goals without any discomfort.

"So, here's the deal, Meet", said Jeet, listing out the advantages of HDFC Life Click 2 Wealth plan that he has invested in after much research. "What you also get with a ULIP plan like Click2Wealth is -

* Dual Benefit - Insurance + Investment

* No hidden charges and 100% Transparency

* Unlimited switching of the funds at zero charges (Full Flexibility)

* 1% Annualized premium added on fund value for first five years

* Return of mortality charges on maturity

As the world begins its recovery in a post pandemic world, ULIPs can help you stay smart, stay safe.
Wow, I had never looked at ULIPs this way earlier, bro!" exclaimed Meet. "Smarter and safer, I go with your advice this time. Like always!" he smiled.

*The above-mentioned tax rates and tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.

#Excluding extra mortality charge, mortality charge on account of waiver of premium for Proposer & taxes levied on mortality charge as applicable

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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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