A one way solution for your dual concern

A healthy life, ample of wealth and lavish lifestyle is the ideal wish for every individual in life. For this they constantly thrive to work hard in their businesses or jobs, try to gain profits, incentives & perks etc. But have you ever thought that with the ever increasing inflation costs, high living standard expectations, educational costs for children your limited source of income will not be sufficient to provide a security blanket for you and your family in future. For this you need to have a strategic financial planning which will not only provide desired coverage to your family but also invest your money in various market funds to provide assured returns based on the fund performance that can lead to give dual financial security for you and your family. One such plan is to take up ULIPs (unit linked insurance plans). Today, ULIPs are sold like hot pancakes and experts suggest with revised free structure and assured returns they offer, it is one of the best investments of modern times. This has become a unique investment vehicle for wealth creation.

However, because of the wide scale market some people are still rather unclear or confused on the product. The article therefore gives a careful Best Ulip Insurance plan comparison with policies like Term Insurance and Mutual Fund. One of major advantages that ULIP provide is that they do not take mortality charges and administrative charges.

It is advisable while having a ULIP plan comparison try and compare them with products which are pure investment and pure insurance products. Compare ULIP which is a perfect combination of investment and insurance in terms of benefits, costs, premiums, discount, returns, age etc.

 

The charges associated with ULIP funds are generally fund management charges, mortality charges, up-front charges and administrative charges. Mutual funds also includes fund management charges and up-front charges, while service charges and yearly premium are the charges included in 'term insurance'. 

Never ever buy any kind of future plan for yourself until and unless you know its terms and conditions completely. It is not necessary that all the plans are beneficial and it's equally true not that all the plans seek to loot you. It is advisable before having ULIP plan comparison with Insurance and fund affiliated products plan well and have a look at the points that you have to keep in mind such as are you able to meet the targets well within your income sources, age to reap the benefits, risk potential and family future needs.

Confirm with your ULIP insurance representatives about the extent of life insurance cover you will get after paying the premiums. Is the plan providing sufficient coverage when compared to pure insurance plan? Then compare the investment components of ULIP with other funds. The greatest advantage of ULIP is that it allows fund switches which will help you with assured returns depending upon the risk potential. According to your risk potential you can always switch funds between aggressive and debt funds or keep them on the balanced fund mode.

Make sure that you ask the representative about the duration for paying the premium. At times, you may not be able to pay the amount after few years because of job loss, recession phase or any personal problems. You should ask them what will happen in that case. While having ULIP plan comparison you should always think and act smartly while buying these financial product as you will be putting all your efforts for earning money and naturally, you would want to invest it somewhere safe! Never hesitate