ULIP A dual security plan

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ULIP A dual security plan
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• ULIP stands for unit linked insurance plans, as
  the name suggests, it is insurance linked with
  investments. ULIP is an investment plan which has
  gained popularity in the recent times due to its
  ability to fetch good and sizeable amount of
  benefits. Earlier it was undermined by the
  investment and insurance benefits making it more
  convenient and feasible for the people. The plan
  runs on investment in the capital market which
  goes on simultaneously with insurance. You
  receive an assured sum of coverage after a
  stipulated period of time along with returns from
  the investments made in the market depending on
  the risk appetite of the individual.

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• The main reason why investors believe in ULIP is
  because of the long term benefits which make it
  worthwhile in every aspect. Policy holders go on
  investing through the term of the policy which
  can be 5, 10 or 15 years and accumulate money.
  Investors have an option of investing in equity
  and debt funds. Any aggressive investor who wants
  to earn good returns will invest in equity funds.
  While an investor who wants to earn good profits
  but doesnt want to take risk will invest in debt
  funds, it clearly depends on the persons risk
  appetite.

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• The recent changes in the IRDA ensure that the
  customer gets satisfaction and protection.
  Earlier it was assumed that ULIP was a short term
  scheme but now IRDA has extended the tenure
  lockin period from 3 to 5 years. Thus, a lot of
  investors who have large income source and want
  to earn long term gains over the period of time
  are attracted towards this plan. Earlier it
  happened that when people chose investment over
  insurance they had to drop one of the options. A
  rational investor invests for familys security
  so that in case if he meets with some uncertainty
  his family not only gets assured sum but also
  gets add-on benefit from the market investments.
  Unit-linked insurance plan fulfills both your
  needs. If you contact any financial expert or
  advisor he will always suggest you a combination
  of insurance and mutual funds. When you buy ULIP
  you not only secure the future with insurance and
  long term maturity benefits but also capital
  gains with the simultaneous market investments.
• The investors are provided flexibility in
  choosing their investment options pertaining to
  their preference and capability. You can choose
  low to high risk under the same policy owing to
  your preferences. This flexibility has made the
  plans more popular amongst common people. You can
  also switch from one fund option to another
  easily without paying any additional charges to
  it. Also you can increase the investments with a
  hope of higher future returns.

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• With ULIP you can play safe and steady without
  bearing huge losses, it gives protection to your
  money with good returns in the near future. The
  new unit linked insurance plans provide flexibile
  benefits on any unseen circumstance which
  includes providing loans up to 40 and even
  partial withdrawal. Be it ULIP or any other plan
  which requires long term commitment, it is
  necessary to compare products. Buy a product
  which meets your demands and is suitable for you.
  

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