Moving forward while choosing the Best ULIP Insurance

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Best ULIP Insurance Plan
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Moving forward while choosing the Best ULIP
Insurance Plan
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Insurance is something that has shown its
importance to each and every individual. Every
single thing today can be insured. The banks and
financial companies provide their own policies to
protect the insured person from any financial
deformity. Some of the most common insurance
types are life insurance, car insurance, home
insurance, health insurance etc. When you avail
a policy, the company is liable to all the
expenses caused to your property. There is a fee
the policy holder is required to pay on an annual
basis. However, this premium would be of no use
if there is no coverage provided. But what if
there is option for an investment that not only
gives you cover but also gives you an opportunity
to earn regular returns.

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A unit Linked Insurance Plan (ULIP) is a product
offered by insurance providers in India that is
different from a pure insurance policy. It
provides the investor with benefits of both
insurance and investment in a single integrated
policy. It allows the holders to direct a part of
their premiums into different types of funds like
equity, debt, hybrid, money market etc. Before
planning to avail the best ULIP plan, it is
essential to know how the whole process works. A
part of the premium paid is employed to provide
with an insurance cover to the insured person
while the remaining portion is invested in an
array of equity and debt schemes.
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All these investment options carry their own
levels of risk and return potential. However, if
the risk is high, higher would be the return
capability. Equities in general involve highest
risk but they also give higher returns that are
beneficial over the long run. Just like mutual
funds, the ULIP also helps in investing in a pool
of market instruments which offer regular
returns. One can select a type of fund i.e. debt
or equity or even a mix of both based on the
needs. NAV (Net Asset Value) helps in deciding
the net rate of ULIPs. The funds performance and
market conditions help in determining the NAV.
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Today, the insurance companies have come with
their own ULIP plan with their own unique
features and benefits. No more is there a need
for a person to be physically present at a
companys office to know about the plans they
have to offer. All of this can be done within
minutes over the internet. However when it comes
to buying ULIP plans in India, there are certain
aspects to be taken care of. The note below can
make the task easier.
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Understanding your need and risk profile -A plan
suited best for you needs to be identified. This
way you will be able to know where your premium
amount is invested and the risk
involved. Compare ULIP products from the other
ones -In order to choose the best ULIP Insurance
plan in India, compare the ones offered by the
insurance companies. This will help you make the
selection task much easier. An Insurance advisor
- An advisor can always help you guide through
the information related to the various schemes
and policies. He/she will give you an unbiased
opinion on what plan will suite you the most.
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In India, the ULIP schemes have emerges as a
vital long-term protection and a savings vehicle.
It is just about the perfect choice for availing
an insurance cover along with an opportunity of
enjoying return benefits.
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