ULIP : IS THERE ANY BENEFIT OF ULIP INVESTMENT TODAY ?

 ULIP : IS THERE ANY BENEFIT OF ULIP INVESTMENT TODAY ?
 ULIP : IS THERE ANY BENEFIT OF ULIP INVESTMENT TODAY ? 

Table of Contents

* That is , it is impossible to get adequate insurance cover through ULIP and they are many products available in the market today for investment . So is it  unnecessary to invest in ULIPs today ?

* Read - Basics of insurance ( insurance )  ULIP
* ULIP
* Mutual + Term plan
  • If you adopt the ULIP route to get enough insurance for you, you can use most of your income or even everyone.                                                                                                                                                                                                                                                                                       Of course, I use the term 'insurance', which means that what should your family get when you die? As a general rule, any earning person should be insured for at least 10 years of income. However, almost universally life cover in ULIP is exactly 10 times the annual premium.                                                                                                                                                                                                                                                                                                                       Therefore,                                                                                                                                            to get life cover equal to 10 times your annual income, you have to get all your income in the form of premium.
The most important factor, which goes against them, is the excessive charge, while the investment factor goes against them.

Especially in the early years, a significant percentage of the premium paid by you is deducted as different charges and charges, which is the largest component of the distributor commission.

This reduces the amount of your premium which is actually invested to generate returns. In a long period, which has a great impact on the total assets you have deposited.
THAT IS, IT IS IMPOSSIBLE TO GET ADEQUATE INSURANCE COVER THROUGH ULIP AND THERE ARE MANY PRODUCTS AVAILABLE IN THE MARKET TODAY FOR INVESTMENT. SO WHAT ULIP (TODAY ULIP) IS POINTLESS TO INVEST IN?
In short, yes. As a rule, never combine insurance and investment. If you have a finance dependent, you should first buy a sufficient insurance plan. Then put the remaining savings into equity mutual funds.

Assume that your post-tax income or in-house income is 10 lakh rupees annually. Then you have a life cover of at least Rs 1 crore.

If you think what all your family will have to spend if you suddenly die, you will find that this 10 times the amount is hard enough.

Most families will actually need more and it is natural that ULIPs are not capable of it.

The good news for you is that this kind of insurance has a fair price if you buy it through term insurance products.

By term insurance, you can get adequate insurance cover at a very low cost and you can read the article on our term insurance to know more about it. That is, worry about insurance planning or planning after your death, now your life means the investment planning.


So it is not necessary to think more about an investment plan: either you can go directly to a good consultant and plan your entire investment in which you will not have to pay a fee and apart from this, you can also plan your own investment.

 It is possible to read such articles and other 'literature'. You can also adopt a direct plan and all these solutions are possible through online medium.


Below are some reasons for planning ULIP versus (Mutual Fund + Term Plan) and there is also an example that says that even the Mutual Fund + Term Plan is the best way.

ULIP ( ULIP)

  • ULIP is basically an insurance + investment plan
  • Ulips (ULIP) have higher costs
  • Life cover attached
  • Not all costs are declared
  • The Triple Tax Benefit Structure is applicable.
  • No tax liability on withdrawal
  • The lock-in period is in ULIP
  • An investor can go from one option to another
  • Offline paperwork required

MUTUAL FUND + TERM PLAN

  • Mutual Fund is a fully invested investment
  • Mutual funds have a comparatively lower cost
  • There is no life cover in MF. It is covered by term plan
  • Transparent product All costs are declared.
  • Tax benefits apply only to ELSS schemes and term insurance
  • Long term / short-term capital gains tax is applicable.
  • Mutual funds are liquid and there is no full people-in
  • In a mutual fund, you have to get out of a plan to enter another
  • A complete online process is possible
ULIP

ULIPs are always more tax efficient than mutual funds, and more recently, the introduction of 10% LTCG tax from equity investments has given them more adventures.

 However,

you do not choose an investment product based on a benchmark. Mutual fund meets ULIP's other criteria such as returns, transparency, liquidity and flexibility.

thanks for the time .

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