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Why Should Women Invest in ULIPs?

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ULIP Investments For Women: Why Should Women Invest in ULIPs?
November 16, 2023

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In this policy, the investment risks in the investment portfolio is borne by the policyholder

In today’s dynamic world, women are shattering the glass ceiling, managing households and more. They are proving they can excel in all walks of life. However, women sometimes shy away from making big financial decisions alone. It’s time for women to take charge of their financial futures, and one powerful tool that empowers them is Unit-Linked Insurance Plans (ULIPs). Let’s better understand why women should consider investing in ULIPs and how this versatile financial product combines insurance with wealth creation.

ULIPs Unveiled

A ULIP or Unit-Linked Insurance Plan is a hybrid financial product that blends insurance with investment. When you invest in a ULIP, a portion of your premium goes towards providing insurance coverage. The rest gets invested in various funds based on your preferences. You can choose a selection of equity and debt funds per your risk appetite and investment goals. The dual benefits of insurance and investment make ULIPs unique and flexible investment tools.

Why Should Women Invest in ULIPs?

As women become self-sufficient, they must take charge of their finances and identify ways to grow their wealth. When you invest in ULIPs, you enjoy:

  • Financial Security Through Insurance

    ULIPs offer financial security through life insurance coverage. Your loved ones receive a payout if anything happens to you. The ULIP offers a financial safety net during difficult and trying times. They provide your family members with financial protection and help look after them in your absence.

  • Wealth Creation Opportunities

    Apart from life coverage, ULIPs also provide wealth creation and growth opportunities. The investment component of ULIPs allows your money to grow over time through market-linked returns. You can use the ULIP to build a corpus to meet your long-term financial goals, such as buying a home, funding your child’s education, or retirement planning.

  • Flexibility and Control

    ULIPs offer flexibility and control that few other investment options can match. You can choose from various funds based on your risk appetite and financial goals. Moreover, you can switch between funds to align your investments with changing circumstances and dynamic market conditions.

  • Long-Term Growth

    ULIPs are long-term wealth-creation tools. They are ideal for your future goals. As a woman, you may have to deal with unique financial challenges such as lower pay scales or career breaks. Investing in a ULIP helps build financial discipline and encourages long-term growth, empowering you to overcome these hurdles easily.

  • Tax Benefits

    ULIPs also come with attractive tax benefits under Section 80C and Section 10(10D) of the Income Tax Act1. The premium you pay, the maturity proceeds, and the sum assured payout all enjoy tax exemptions. Investing in a ULIP helps you build a corpus for the future while saving on taxes in the present.

Understanding the Best ULIP Plans to Invest In

Choosing the right ULIP is essential to maximise your returns. You must research to identify a ULIP that aligns with your financial goals and risk tolerance. Look for ULIPs with a track record of consistent returns and a strong fund management team.

Investing in a ULIP is about more than growing wealth. It’s about empowering women to take control of their financial futures. ULIPs offer financial independence, empowerment, and a brighter future for women and their loved ones. Don’t wait. Start your journey towards financial freedom with a ULIP today!

Related Articles: 

ARN - ED/10/23/5874

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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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Author Profile Written By:
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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Here's all you should know about life insurance.

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HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Disclaimer

1. Tax benefits are subject to conditions under Sections 80C, 80D, Section 10(10D) and other provisions of the Income Tax Act, 1961.  Tax Laws are subject to change from time to time.

The Unit Linked Insurance products do not offer any liquidity during the first five years of the contract. The policyholders will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of fifth year

For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale. Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. HDFC Life Insurance Company Limited is only the name of the Insurance Company, The name of the company, name of the contract does not in any way indicate the quality of the contract, its future prospects or returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.

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