Financial PlanULIP

Achieving your life goals made easy with ULIP plans

Each one of us has some life goals. People work hard to make the future dreams come true. While some of the times, savings help in doing the same at other times, investments are the right decision to give a shape and form to the future.

When talking about investments, ULIP plans are the right choice. These investments come with dual benefits. In addition to the life insurance they also provide you chance to invest for your future. The policy holder pays the premium amount. This premium amount is divided into two different fractions. One fraction of the amount goes for the life cover while the other one goes for the investment amount offering different investment choices like equity fund or debt fund. With these Unit linked insurance plans one can form a better and desirable future for themselves and their family.

Here is how these plans can help you achieve your future goals,

  1. For your child’s dream education – Education in the present days holds crucial importance. With changing environment, the significance of education has also changed. In this period of evolution, it is very important to give your child the education he/she dreams of. With ULIP investments, you can give your child the bliss of the education he/she deserves. With future returns from your investment you can be sure of financing your little one’s education well. Also, you can use ULIP return calculators to know the amount of return that you will be receiving in the future.
  2. For the house of your dreams – We all dream for having the house of our choice which is grand and just a replica of the one that we always think of. But, the problem occurs when we have to pay for this house of dreams. Not everyone has the money to buy the same. You do not have to compromise over it if you have already invested in ULIP plans. Investing in these plans give you a chance to achieve your life goal of buying the house.
  3. Regular savings – While a lot of people look for ‘things’ as their life goals, there are others who feel having a good amount of savings can be the biggest help in the times when it goes beyond our thoughts and expectations. For those who want regular savings for future, ULIP plans help them achieve that as well. You can invest in them and keep doing it without disturbing the plan and you can be certain of having enough savings to safeguard your future.
  4. Life protection – One of the biggest goals of life is protection against your life. Many dream of it by thinking about the moments when time might not be in favor. Since ULIP is not only about making investment, the plans help in securing your future by bringing you the benefits of life cover. A lot of people invest in life insurance policies for the for life cover. As ULIP covers both of these areas of investment and protection against life. It is just the right choice for all those who aim for it.

Apart from making your life goals come true, ULIP gives you other benefits to make your investment an easy one. Let us take a look.

  • Unlike most of the investment procedures, through ULIP you can make an easy fund switch. That is, if you feel your investment is not as per your desire, you can move the fund investment from equity to debt or vice versa. If you come across an evolving market environment, you can switch your fund. ULIP charges you no amount of money for these switches for some free switch facility that it provides to its policy holders or investors.
  • For the premium amount of the policy, one can change the payable premium amount and add top ups through the facility of premium redirection. So, if you have some monetary urgency, you can simply change the premium amount without letting the investment be a burden over you. Most of the investment plans do not offer their investors the benefits to reselect their payable amount of premium.
  • Investments are for the purpose of a brighter future but at misfortunate times, they can turn out to be a burden. Unlike most investment plans, ULIP plans give you opportunity for partial withdrawals for the times when you need the money on an urgent basis. Though, you can only withdraw a part of your money and not all of it.
  • Tax benefits – not just the investment and life cover, ULIP plans also offer the investors a chance to get a deduction on the taxes. Under section 80C of the income tax act, one can get around 1.5 lakhs of deduction on the amount of income tax. In addition, the maturity benefit that you are going to receive at the end of the tenure of the policy is also tax free as per Section 10d.

Keeping all of the above listed benefits of ULIP investment plans in mind, take a chance to achieve your life goals without any financial stress in future.

Vikas Agarwal
the authorVikas Agarwal
Vikas Agarwal is an IIT-Varanasi graduate in Chemical Engineering. He is the Founder and CEO of - an investment advisory website. He is a Business Development Professional but a Value Investor at heart. He writes articles on Finaacle, which focus on simplifying the art of investing and the causes of human misjudgment when it comes to investing. He also shares his experiences as an investor and lessons from some of the greatest investors of all time.

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