Professional Answers on Investments
Insurance, Mutual Funds, Sensex, Nifty, Financial Planning
Unit Link Insurance Plan 1971 – UTI
I think the ULIP schemes from Bajaj Allianz offer good returns.
In my personal opinion, you should as much as possible try keeping investments and life insurance separate. Instead of putting your money in a ULIP you could rather go for a term insurance plan AND invest the remaining money in a MF as per your requirements. It could either be a tax saving ELSS fund or a diversified equity fund, it all depends on your financial goals.
Any Ulip plan which gives 20 to 30% annual return can be consider good. There are several such plans. It depends upon one’s choice. Though I would recommend amsure’s growth fund, which is giving 30+% annual return, and as it is linked with Amway Business Opportunity, person gets the incentive also.
For example, if a person selects 10 lac sum insured, than he has to pay Rs. 1 lac as premium. Here, almost Rs. 13,000 to Rs. 22,000 can be earned as an incentive.
While investing in ULIP’s the first and the foremost you should see is the charges which are levied on the amount you pay.
Read the fine print of the product you select don’t trust the agent.
Or else go the respective web site of the product and see the brochure, in almost all the Indian insurance companies put up their brochure with a benefit illustration of 6% and 10% download this and compare it with LIC’s similar product.
Now you will understand how misselling is happening.
Among all the ULIP”s the best is LIC’s products.
But then there also look for a good advisor to advice the right product. In LIC at least you can find the products are best and charges are really transparent.
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