How to Use a ULIP Calculator?
While a ULIP calculator is a handy tool to understand the return of your ULIP, it is important to know how to use it. Here's a step-by-step guide on how to use a ULIP investment calculator (These steps may change depending on the insurance provider’s website).
- STEP – 1
Log on to an insurance provider’s website and check out the ULIP calculator.
- STEP -2
Specify the amount you wish to invest in a ULIP. Also, mention whether you would like to pay the premium in a monthly, quarterly, or yearly instalment.
- STEP – 3
Select the tenure of your policy.
- STEP – 4
Next, select the funds you want to invest in. Choose whether you want to invest in a debt fund, an equity fund, or a combination of both depending on your risk appetite.
After you’re done with these details, you will have to enter your personal information like name, gender, and date of birth, to name a few. This will give you the exact value of return you will accumulate through your ULIP.
Using a ULIP Calculator is easy, free, and hassle-free. Let’s look at some of the features of this calculator in detail.
- Transparent - A ULIP Calculator provides accurate, transparent, and comprehensive details on your investment plan, giving you a clear idea of your return on investment.
- Flexibility -These calculators are flexible, and you can change the variable as per the amount you wish to invest and the tenure of your policy
- Goal-Based Planning -Since a ULIP calculator helps you in analyzing which fund option is better for you, you can plan your investments according to your financial goals.
ULIPs are excellent investment options aside from being a safety net for you and your family. However, it is important to make sure that you choose the right plans to get the best returns. Using a ULIP interest calculator will help you find the perfect ULIP as per your financial requirements and bring you closer to your goals.