Why should you invest in United Linked Insurance plans?

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Why should you invest in United Linked Insurance
plans?
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• ULIP is a market-linked investment plan that
  offers consumer twin benefits of protection cover
  as well as earning from investment funds. A part
  of the premium paid towards this policy goes for
  life insurance cover and the remaining is
  invested in equity, debt or balanced funds as per
  your financial goals and risk appetite. The
  investments are denoted in units and is
  represented by the net asset value (NAV). The
  value of the policy varies according to the value
  of underlying assets. A small portion of the
  premium is deducted for administrative and fund
  management charges as well. Due to the vast
  expansion of the insurance sector, policies are
  being framed in and out each month, often
  customer gets confused which is the best ULIP
  insurance plan suitable for them.

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• The article guides with some tips to consider
  that will help you choose the best plan
• One of the key elements is to understand your
  income source and risk appetite and then choose
  the invest funds in various schemes such as debt,
  balance and equity funds under unit linked life
  insurance plan. Some people are very keen to
  investments in stocks or forex markets, so they
  can opt for equity based funds. Alternatively,
  the ones with reserved mind set can go for debt
  oriented funds.
• The next step would be to understand your
  financial goals from time-on-time basis. Sit with
  your family, understand their needs and
  requirement and accordingly choose your best ULIP
  insurance plan that should fulfill their
  requirements on time.
• Since these are market linked funds, they are
  categorized under medium to long-term plans. Some
  people are very curious and quit funds in a short
  span of time of around 3 years as soon as the
  minimum locking period is over. But the approach
  is wrong. It all depends upon the market
  movements and volatility so it is better to give
  some time to your funds to work upon. This way it
  will prove to be the best ULIP insurance plan of
  your choice. Ideally, you should time the funds
  for around 5 to 10 years to extract well balance
  returns from the markets.

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• Policy holders can switch their money from one
  fund to another during the term of the policy.
  However, it is advisable to consult your
  financial expert and then take a wise step as
  they would be in a better position to predict
  about the market forecasts and future movements.
• Saving the cost of charges associated with ULIP
  policies will give the most to you. Ideally,
  there are premium allocation, administrative,
  managements, upfront, partial withdraw, fund
  switching or surrender charges associated with
  the plan. Ensure that your charges should not eat
  up most of your earning. Your Best ULIP insurance
  plans should have minimum charges and provide
  flexibility in terms of cash withdrawal, bonus
  receipt and term of the policy.

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• People can make a lump sum addition to investment
  at any point of time, which is known as top up.
  With this addition, the risk cover will remain
  same but the amount in your investments will
  increase and you can provide a better chance of
  extracting larger returns.
• In order to choose the right Ulip Nav it is
  essential to compare the plans well before the
  purchase. Nowadays, there are online medium which
  lets you compare policies in terms of benefits
  and features, low charges incurred, hassle-free
  premium payment facilities, expenses, etc. It is
  also advisable to be a knowledge investor or
  rather have an expert opinion on time to get
  better returns from your ULIP investment.

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