How Ulip Having Edge Over Other Investment Options

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How Ulip Having Edge Over Other Investment
Options
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• Unit-Linked Insurance Plans (ULIPs) are
  combination of investment and insurance. These
  plans are long-term products, hence, are ideal
  for long term goals such as childrens education
  or your retirement.
• Also, ULIPs have become very cost-effective after
  2010. In 2010, the Insurance Regulatory and
  Development Authority of India (IrdaI) capped
  charges on ULIPs and increased lock-in period to
  five years from three years. Here are reasons
  that have made ULIPs a smart investment option-

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• Flexibility ULIPs allows its investors to switch
  between equity and debt funds. Other investment
  options do not allow this flexibility. Most ULIPs
  allows certain number of switches in a year free
  of cost.
• Capital gains When switching between funds,
  there is no component of capital gains in ULIPs,
  making it convenient and cost-effective. This
  gives it an edge over other investment options.
  In Ulip insurance india other investment options
  switching between funds attract capital gain tax.
  

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• Tax benefit You can also avail tax benefit up to
  Rs 1.5 lakhs under section 80C of Income Tax Act
  for premium paid for ULIPs. However, death cover
  needs to be ten times of annual premium to avail
  tax benefit. And also proceeds received on
  maturity will be tax free under section 10(10D)
  of Income Tax Act.
• Life cover ULIP ensures for whatever financial
  goal you have bought it that will be met even
  something happens to you. Upon the death of the
  policyholder the fund value is paid out and at
  the end of the tenure-when the goal is due the
  sum assured is paid out again.
• Hence, ULIP has become a good product to be in.
  Make sure that you continue to make regular
  premium payments to reap full benefits of ULIPs

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