Unit linked insurance plans (ULIPs), provide for the benefits of riskprotection and flexibility in investment.They offer attractive features such as flexibility, transparency, liquidity and the option of managing your own investment through selecting your own fund based on your specific life stage requirement and risk profile.
ULIPs helps you invest in different funds such as debt, equity, balanced or liquid, based on your risk profile in the proportion you want
The returns are based on market performance and are not guaranteed .
It is a long term financial product for 15 years and above. The longer you keep saving the better is your accumulated wealth.
It provides you the option to switch between funds, to optimize your returns.
You can choose to pay your premiums monthly/six monthly or yearly. You can also make a onetime investment by selecting the ‘single premium’ option.
You also have an option of building your corpus through additional deposits.
In case of any unexpected emergency,you can close your policy after five years, free of exit charge. However, it is better to pay your premiums regularly for a longer period,to gain the benefit of compounding. You also have the option of partial withdrawals.
