How To Select The Best ULIPS To Add To Your Portfolio?

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Best ULIP Insurance Plan
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How To Select The Best ULIPS To Add To Your
Portfolio?
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An ULIP is nothing but a Unit Linked Insurance
Plan and as the name suggests it has got an
insurance component and a growth concept to
enhance wealth. Apart from this, investment in
ULIPs gives you tax benefit under Sec 80C of the
Income Tax Act. How are ULIPS structured?
These give you savings, insurance and tax saving
benefits. The best part is that they come with
insurance. In terms of tax, they not only offer
you tax benefits under Sec 80C, but, in the event
of death of the holder, tax is not levied on the
nominee.
Also, in the case of lump sum return, the amount
is not taxed.
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You can choose the best Ulip for you in a number
of ways. Here's how?

• Identify your needs first
• First, see if you need an best ULIP insurance
  plan for retirement planning or for health
  related issues in the future or for your child's
  education. Since ULIPs invest money in stock
  markets, if your perspective is rather long-term
  go for in for one that is equity based. Unit
  linked Insurance Plans comes with various options
  and invest from zero per cent to 100 per cent in
  equities.
• 2) Debt Oriented ULIPs
• There are such units which invest the entire
  money in debt. So, this should be the first
  priority for those planning to retire or for
  those who are less risk averse or by nature who
  do not want to take risk.

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3) Go For a Balanced Plan You can also opt for
a balanced plan, if you want to end-up being in
between high risk and low risk. If you feel that
the investment in the scheme should be less than
50 in equity make a choice accordingly. 4) Do
Not Buy It For Insurance Do not Buy ULIPS for
the sake of insurance. Remember, the protection
may simply not be adequate for the purpose. Go in
for a proper term insurance policy, if you wish
to cover yourself with insurance. Also, do not
use it as a primary means to save tax. Use it to
meet a long-term objective like retirement or
child education needs.Source  http//www.goodre
turns.in/personal-finance/insurance/2015/03/how-se
lect-the-best-ulips-add-your-portfolio-341699.html

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