What is meant by ULIP(Unit linked Insurance Plan)?Say something about it.,its merits and demerits? - unit linked insurance plan
This system promoted by Unit Trust of India. Unit Linked Insurance Plan is commonly known as ULIP. The investments in the plan must be distributed in premiums and investments. In other words, is a combination of insurance and investment funds. Advantages: two in one system. Second, the cost of insurance is high because the stock of India is not an insurer.
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Unit Linked Insurance Scheme is life insurance with an investment element, which operates on similar principles Fund.
In the United States, they called the life insurance or variable universal life insurance.
In Malaysia, we call investment related insurance. This type of insurance is available on the market since 1997.
Background:
1) The flexibility in choosing their own protection (insurance)
Option 2) to choose from a wide variety of investment funds () to invest funds with low risk high risk based on their risk profile. Tradisional invsetment part of the security is the control of the insurer.
Disadvantages:
a) The premium is not guaranteed. In Malaysia, the annual premium we pay for the investment in the insurance premium each year specifically to "". For example, if you pay an annual premium of 1,800 Malaysian ringgit in the last few years does not mean that you pay the same amount next year.
b) The cost of insurance are not guaranteed, for example, cost of insurance for death benefits, total and permanent disability benefits, etc. The insurer is entitled to the cost of insurance increased.
Do not count on the unity of India, but almost all life insurance agents in India are the issuance of shares related insurance plans now. It is connected as an investment insurance. Suppose you want to save 10,000 a year for ten years. How will the economy a lakh. You want high performance. Not the kind of bank. And I think you have the need, after ten years. Given the current rate of growth of our economy is investment in the units, high returns if the fund manager of your company of choice is effective. Why is it different from mutual funds is of critical importance. In this uncertnies want wealth for a few years ago. The insurance to the plan shall be attached to ensure that the level of your dreams become the loving hands of their relatives, even if something bad happens to the insured. Apart from savings and income tax. The cost of insurance coverage is minimal and the difference between the insured and the unit net asset value. You can also choose from a serious illness, accident, sickness pilot permenanat additional premium. You can liqudityafter 3 years without criminal charges, the net asset value. If you need further information please contact me via email or ID Bug
Unit plans are investment plans for those who understand the value of hard-earned money. These plans help you see your savings by the rich and help you save on taxes, even if not? They have a steady income.
The disadvantages are nothing more than the performance depends on market fluctuations
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