Tips to invest in ULIPs the right way

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Tips to invest in ULIPs the right Way
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• A unit linked insurance policy offers a wide
  range of investment opportunities with three
  flexible variants to choose from.
• When you pay your premium for ULIPs a part of it
  goes to your life insurance cover while the other
  half goes to your investment in equity or in
  debt.

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• The investment ratio has to be decided by you
  according to what suits your need the best.
• Here is how you can get the maximum benefit out
  of your ULIP plan by investing according to your
  needs.

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• This depends on your age, your marital status,
  your career and whether or not you have kids.
• If you are single and just starting out with your
  career, you need low protection but high wealth
  creation and accumulation as you are just
  starting out in life.
• You can choose a ULIP plan with a low death
  benefit and allocate more of your money to equity
  oriented investment funds.

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• If you are newly married and have no kids, your
  protection need is medium and the need for wealth
  creation is high since you might be planning on
  starting a family.
• You can choose an insurance plan with high death
  benefit and an investment plan that focuses on
  balance and growth of your investment funds.
• If you are newly married and have no kids, your
  protection need is medium and the need for wealth
  creation is high since you might be planning on
  starting a family.

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• You can choose a life insurance plan with high
  death benefit and an investment plan that focuses
  on balance and growth of your investment funds.
• If you are married with young children, you need
  high protection as well as high wealth and asset
  creation because you need to save for your kids.
• You should choose a ULIP plan with increased
  death benefit and balanced investment fund for
  the creation of assets.

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• If you have a well settled job, are married and
  have school going children, you need high
  protection and high wealth creation along with
  liquidity to meet your childs needs.
• Opt for partial withdrawal of your policy to meet
  your liquidity needs.
• If your children want to pursue higher education
  or start their own business or want to plan their
  wedding, you need medium protection again and
  also liquidity to meet their needs.

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• You can again liquidate accordingly. 
• If you have independent children and are nearing
  retirement your protection needs are low but you
  need to accumulate wealth for your retirement.
• At this stage of life you should lower your death
  benefit and opt for debt oriented investments.