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In this policy, the investment risk in the investment portfolio is borne by the policyholder.
Kotak e-Invest
Features
Ref. No. KLI/22-23/E-BB/492
ULIP offers benefits ranging from life insurance to wealth creation & tax savings. Here are five more reasons to invest in ULIP.
Financial stability and security are important aspects of a peaceful and happy life today. Well-being and having enough resources to survive any emergency is important for yourself and your family. For many, having good savings to support their family and themselves is the primary goal. The secondary goal is to ensure a good future for your dear ones.
However, planning the future is not as simple as it sounds. Future is uncertain, and certain complications can always derail your plans. To tackle such unforeseen scenarios, we need to make right investments that get us returns at the right time. This is where plans like Unit Linked Insurance Plans come into the picture.
Now there are many things that you must clarify before opting for a ULIP policy. First, you need to understand the answer to the question, “Why should I invest in ULIP?”. Once you have an idea about why, you can further check on why is ULIP a good investment. Again, identification of ULIP’s pros and cons is also equally important.
In this article, we will give you 5 reasons for investing in an ULIP plan.
Here are five reasons why ULIP is getting popular nowadays and why you should invest in ULIP now:
ULIP allows you to invest in market-linked funds like equity, debts, hybrid investment. A part of the premium you pay for ULIP is invested in the market securities. Thus, if you are looking for long-term financial growth and taking benefit of markets’ growth over the years, then ULIP is a safe and reliable way to earn good returns.
Now, if you ask Why ULIP is best? The right answer would be because of its important features. In this case, when you opt for ULIP, you have full control over the investment part of the ULIP policy. You can manage your portfolio as per your choice. In ULIP, you get to choose the funds you want to invest in and switch them according to your wish. So, you can identify your risk appetite and accordingly invest in the equity, debts, or hybrid market funds.
The reward that you get for staying invested in unit linked insurance policy is also one reason why ULIP is a good investment. In addition, you get rewarded for continuing in the policy after your maturity as you are awarded a wealth booster and loyalty bonus. It is advised to check for these benefits before opting for a ULIP policy, as different insurers offer different benefits and features.
Apart from the investment part, you should not ignore that you are getting life coverage. The combination of investment and life insurance makes ULIP a modern and popular financial plan. You get a minimum life cover of 10 times of your annual premium amount. Moreover, the life insurance has to be decided by you based on your goals and the requirement in case of your untimely demise.
When you invest in ULIP, you get EEE (Exempt-Exempt-Exempt) tax benefits of an annual premium of up to ₹1.50 lacs as per Section 80C deduction. Also, you are exempted from tax on all premium, maturity, and proceeds.
With these and many other benefits, Unit-Linked Insurance Plans prove to be ideal investment solutions for individuals with varying risk appetites. You need to analyse your requirements, determine the value you can invest, and find the right funds to invest in.
Amit Raje is an experienced marketer who has worked in various Fintechs and leading Financial companies in India. With focused experience in Digital, Amit has pioneered multiple digital commerce in India. Now, close to two decades later, he is the vice president and head of the D2C business department. He masters the skill of strategic management, also being certified in it from IIMA. He has challenged his challenges and contributed his efforts in this journey of digital transformation.
Prasad Pimple has a decade-long experience in the Life insurance sector and as EVP, Kotak Life heads Digital Business. He is responsible for developing user friendly product journeys, creating consumer awareness and helping consumers in identifying need for life insurance solutions. He has 20+ years of experience in creating and building business verticals across Insurance, Telecom and Banking sectors
In this policy, the investment risk in the investment portfolio is borne by the policyholder.
Kotak e-Invest
Features
Ref. No. KLI/22-23/E-BB/521
The information herein is meant only for general reading purposes and the views being expressed only constitute opinions and therefore cannot be considered as guidelines, recommendations or as a professional guide for the readers. The content has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. Recipients of this information are advised to rely on their own analysis, interpretations & investigations. Readers are also advised to seek independent professional advice in order to arrive at an informed investment decision. Further customer is the advised to go through the sales brochure before conducting any sale. Above illustrations are only for understanding, it is not directly or indirectly related to the performance of any product or plans of Kotak Life.
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