Double Strike with ULIP Plans

As many people have come to realize over a period of several years, in order to help your money grow faster, it is best to invest your money better. As everyone makes certain earnings on a monthly basis, it is best to invest the savings in a smart and efficient manner. In order to help you to achieve your goal of increasing your wealth in a better approach, while also providing insurance cover to your near and dear ones, The Unit Trust of India came up with the scheme of Unit Linked Insurance Plans or ULIPs in 1971. A Unit Linked Insurance Plan (ULIP) is an insurance product, unlike a pure insurance policy, gives investors both insurance and investment under a single integrated plan. These days, ULIPs are provided by a number of insurance and investment companies and are valued by customers because of their unique, integrated approach.

In order to accomplish this dual target of life insurance along with investment, Unit Linked Insurance Plans have a unique approach, which are different from the normal savings accounts or mutual fund investments. A part of the premium paid by the customer is utilized towards providing life insurance, while the other portion is used for investing into the various debt and equity schemes available out there. Over a period of time, the money that is collected by the insurance provider from your premiums is invested in the various market instruments in different proportions, just like it is done in mutual funds. The user has the freedom to choose whether they want their money to be invested in debt or equity funds, or both, depending on their personal life goals that they wish to accomplish with these. Based on the current market conditions, the policy holder is allotted with a certain number of units, whose Net Asset Value or NAV is declared on a daily basis. The NAV varies from one ULIP to another based on market conditions and the fund’s performance.

In order to incorporate ULIP plans into their structure, there are various public and private sector insurance providers that either operate solo, or ever since the opening up of insurance sector to foreign investors in 2001, have partnered with foreign insurance companies to provide Unit Linked Insurance Plans in India. There are so many ULIP provider in Indian market . In order to go the extra mile, and bring the comfort of investment along with insurance to your family, sign up for a ULIP plan today.