What is ULIP?
ULIP is a mix of insurance and investment policy that helps to achieve the goal of wealth creation and along with life cover. The fund in the investment in ULIP plan is collected based on debt or equity or both, and matches with the policyholder’s long-term goals like children’s education, retirement planning, buying a house, etc. You can switch your ULIP portfolio between the debt and equity based on your knowledge of market performance as well as risk appetite. Unit linked insurance plan is an insurance plan that provides dual benefits in one policy. In a ULIP investment, the number of units credited to the policyholder depends on the prevailing NAV as per that date, as well as the premium amount paid. Under a ULIP policy, the nominee receives death benefit- in case of the demise of the policyholder during the term of the ULIP. In case the policyholder survives the term of ULIP, he/she can receive the maturity value of the ULIP plan. The policyholder of ULIP is typically allowed to choose ULIP funds and assets to generate the returns. Even if the value of the ULIP investment falls below the sum assured, the nominee of the policyholder will be paid the death benefit as specified.
Why Do You Need ULIP Plan?
ULIP Plans By Bharti AXA LIFE
Benefits Of ULIP Plan
Features Of ULIP Plan
How To Calculate ULIP Plan Returns?
Who Should Buy ULIP Plan?
How To Choose The Best ULIP Plan?
ULIP Plan Claim Process
ULIP Plan Frequently Asked Questions (FAQs)
When should I start planning for my ULIP Plan savings?
It is always better to start as early as possible to achieve your goals. It is always advisable to be prepared for unforeseen circumstances for the better future of your loved ones and family.
Is ULIP a good option for investment?
A ULIP plan is a policy plan that offers both investments as well as insurance benefits. Besides providing life cover, the ULIP policy also provides the benefit of market-linked returns. ULIP helps inculcate the habit of regular and disciplined savings, which also helps in long-term financial management. Hence, the ULIP insurance plans are a great option for creating life cover with wealth creation benefits for your loved ones and family members.
What is the ULIP plan meaning?
ULIP is an insurance and investment plan that is an abbreviation for Unit Linked Insurance Plans. ULIP plans are a category of goal-based financial solutions that offer dual benefits of investment and financial protection. ULIP Life insurance and investment plans are usually bought for long-term capital gains and offer a financial protection cover.