5 Factors to Have ULIP in Your Personal Investment Portfolio
November 19, 2016
Below are a few reasons why your Personal Investment Portfolio must have a Unit Linked Insurance Plan:
Allows you to choose investment option based on risk appetite-
Policy holder can make a decision between equity and debt funds, something completely based on their risk appetite. ULIP buyers also get to choose the percentage of funds they want to invest in high risk funds, moderate and low risk funds, thus securing them from the unpredictability of the stock market.Power of compounding-
One earns a large amount of interest with ULIP, given the power of compounding interest. Some ULIPS have a term period, and you can only withdraw after the lock in period is over. Withdrawing after such a long time allows you to earn far more than what your typical savings account would have fetched you.Tax benefits-
ULIPs give you tax rebate on the premiums paid under Section 80C and the payouts exempt from tax calculation under Section 10D of the Income Tax Act, 1961. One of the biggest benefits of buying a ULIP.Life Cover-
ULIP is a Life insurance product, which means it comes with a protection in case of death of the person. Investing in a ULIP plan ensures that it provides a Life insurance cover and also a greater scope for the family of insured.Switch option-
ULIPS allow you to switch between investments depending on the market trend. You can track your fund's performance since the companies send you updated information. Basis which you can always make informed decisions and move your funds around to investments yielding higher results.
HDFC Life offers you a unique ULIP curated as per your risk appetite. You can go through thelink and make a smart investment for yourself.
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