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ULIPs: Suitable for all

ULIPs: Suitable for all

ULIPs: Suitable for all


Unit-linked insurance plans (ULIPs) are long-term investment vehicles that provide you financial protection while allowing wealth creation at market-linked returns. A part of your premium is directed towards providing you with insurance and meeting administration expenses while the rest of it is directed towards an investment fund.


Each ULIP offers several investment funds, each having a different risk and return profile. This is because each fund comes with a different specified limit on the amount of debt and equity that it can take an exposure to. You further have the freedom to switch from one fund to another during the policy term. Due to these features, you can fulfil various financial goals through a ULIP.


Life StageYou are single and have just started on the career pathYou are married with no child You are married as well as a parent You are settled at your job and have school going children Your children wish to pursue higher education / set up a business / plan for their marriage Children are independent and you are nearing retirement
Your Need Protection
- low
Protection
- medium
Protection
- high
Protection
- high
Protection
- medium
Protection
- low
Wealth creation and accumulation
- high
Wealth creation
- high
Asset creation
- high (need to save for children)
Wealth creation
- high (need liquidity for child’s need)
Need lump sum money to fulfil needs Safe accumulation or retirement
Meeting the Needs Through ULIP - Choose a low death benefit
- Allocate more to equity oriented investment funds
- Opt for higher death benefit
- Choose growth or balanced investment funds for wealth creation
- Increase death benefit
- Opt for balanced fund for asset creation
- Choose riders for enhanced protection
Undertake partial withdrawal to meet liquidity Undertake partial withdrawal to fulfill arising needs - Lower the death benefit
- Opt for debt oriented funds

To elaborate, ULIPs allow you to:


  1. Protect your child's future

  2. ith inflation inching up, a financial goal coming up for fulfillment tomorrow will cost you much more than today. You thus need to invest in such a manner that the returns not only counter inflation but also cover rising costs. With the equity exposure available, unit linked child plans give you the opportunity to earn market-linked returns and at the same protect your child's future.


  3. Secure funds for critical milestones

  4. You may require funds at various milestones of your child’s life such as his/her higher education, marriage or business venture. The facility of ‘partial withdrawals’ on offer gives you access to your money at critical stages so that you have the right amount of money at the right time to address multiple needs.


  5. Financially secure your retirement

  6. Creating a corpus for your retirement is one of the most important goals of financial planning. As equities perform well over the long term, ULIPs are an ideal choice that can add value to your retirement portfolio. When you are young and far away from retirement, you can choose an equity oriented fund which invests largely in equities. As you grow old and near your retirement age, you can gradually shift your investments in to more conservative debt funds. At retirement, you have the option of choosing the annuity, either immediate or deferred, as per your requirements.




Barring the insurance cover, ULIPs and mutual funds appear similar in structure. Both allow fulfillment of various financial goals. However, a ULIP comes with attractive tax benefits wherein an amount invested (up to a maximum limit of Rs 1 lakh) in a ULIP is not considered part of the taxable income across all plans. A ULIP also offers you the flexibility to choose and alter investment amounts and freedom to switch funds from one fund to another at zero or marginal cost. These few features make them rather attractive.



Thanks to their flexibility, ULIPs are easily adjustable to different stages of life. As such, they come very handy in the process of financial planning.


Disclaimer

Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. The premium paid in Unit Linked Life Insurance policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Kotak Mahindra Old Mutual Life Insurance Ltd is only the name of the Insurance Company and ULIP Plans offered by the Company does not in any way indicate the quality of the contract, its future prospects or returns. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document of the insurer. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details. In this policy, the investment risk in investment portfolio is borne by the policyholder. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale. Insurance is the subject matter of the solicitation. Kotak Mahindra Old Mutual Life Insurance Ltd. Regn No. 107. Regd. Address: 9th Floor, Godrej Coliseum, Behind Everard Nagar, Sion (E), Mumbai - 400022.Toll Free No.1800 209 8800.Ref. No. KLI/10-11/E-WEB/189.



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