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Understanding Funds in a ULIP policy
ULIP policies generally give you an opportunity to allocate your investment into different funds while investing. Funds may have different names like Bond fund, Balanced fund, Equity fund, Debt fund etc. You should have a fair idea about the investment pattern of each funds in your ULIP policy and it can be obtained from the product brochure or insurance document of your policy.
Understand the overall economic scenarios
If you have a good understanding of market movements, the decision making process can become much smoother for you.
Your Asset allocation
What does your asset allocation say? Each asset has varying risk return characteristics. Therefore Depending on your risk appetite, life stage needs, you must select between the debt and equity ratio.
If you feel that tracking the markets is not your cup of tea and your hectic lifestyle does not leave you with enough time to monitor your plan, you can choose the automatic switching option. IndiaFirst Life offers auto-trigger options that allow for automatic switching based on the behavior of the underlying assets in the fund. (Note: This feature is available for IndiaFirst Money Balance Plan only)
What is Fund Switch?
Switching is the option under which you can move some or all your units from an existing fund into one or more funds at the respective unit price on the day the switch is affected.
What are the limits for Switching?
There are limits to the number of switches and minimum switch amount allowed for a policy. Please refer your policy document for further details.
Will Fund Switch change the future Fund Allocation of the Policy?
Fund Switch will impact the allocation of existing units held by you, all future premiums paid by you will be continued to be invested as per the Premium Allocation pattern chosen by you.
What is Premium Redirection?
Under Premium Redirection you can redirect your future investments towards a different fund or set of funds. However, under the premium redirection option your past allocation of premium does not change.
How do I maximize returns through Fund Switch?
Returns in unit linked insurance plans are market linked and not guaranteed. However, an important feature of ULIPs is that it allows you to control your investment and may optimize your returns. Under ULIPs, you can not only decide the amount to be invested across different asset classes, but also switch between funds or re-direct your future premiums in different funds based on the changes in your risk profile and market conditions.
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