How to invest wisely in ulips
ULIPS are unit linked investment policies that are offered with or without life coverage. The non risk policies (without life coverage) are offered to even senior citizens. All Insurance companies have ULIP plans but it is always up to the consumers to decide about the best.LIC is one of the most reliable institutions noted for experience, net work system and backed by the Govt. guarantee. The investments made by LIC is mostly in Govt organizations and top fifty Companies of India at high rate of interest which enables it to run it as non profit organization distributing the benefits to the valued customers.LIC of India has come out with a ULIP viz Wealth Plus with guaranteed highest NAV (Net Asset Value). Because of this one need not bother about the fluctuations in the share market and expect the highest yield at the end of the period. The features are as given below
Steps
This plan is available from 9/2/2010 to 9/5/2010 only, for a short span of three months.
Plan term is only for 8 years and the premium is paid for only 3 years. Single premium (min) is 40,000/- and yearly premium (min) 20,000 payable for three years.This policy can be given to children above 10years. Adults upto 65 years are also eligible.
Highest value of unit of the first seven years or end of the term whichever is highest is guarantee. Units are being allocated at Rs.10/- per unit. It is expected to reach near 50 taking the performance of LIC’s previous ULIPs, into consideration.
Life coverage is included and the premium will be low as for term insurance. Extended life cover of 2 years is offered after the term.
Lock in period of 3 years and partial withdrawal is allowed after 3 years.
Life coverage is calculated as 5 times to 2.5 times for single premium taking the age into consideration. 10 times to 5 times the annualized premium according to age.
If one is a resident of Hyderabad or Secunderabad , send enquiries to taurus1948@sify.com. Contact any LIC agent to get extra information.
Caution
• Unknown agents can mislead you for their benefit hence it is better to contact known and reliable ones.• Ask the agent to explain and finalize only after being satisfied.
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