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ULIPs- More than a Cover

ULIPs- More than a Cover

Insurance is seen as protection for one’s family against financial uncertainties that may result due to unfortunate demise or illness.

Insurance can also be used effectively as an investment vehicle. Proper planning can help minimize the drain taxation can have on your business or estate. Planning means you choose how your assets get allocated. It involves a step-by-step approach and ensures that you receive only expert advice. The result could be a plan customized just for you.

There are a variety of life insurance products specially structured to provide targeted benefits including - Unit Linked Insurance and Pension plans that offer equity linked returns.

Some Financial Goals that you can meet through Unit Linked Insurance and Pension plans:

Build a legacy – for yourself and your family!

The primary purpose of life insurance is to provide for dependents on death of a primary wage earner, but life insurance can also serve as an outstanding tool for transferring wealth to the next generation.

You could select from a range of Plans available depending on how much you want to invest. Starting now, will help you create a sufficient wealth pool for you, your immediate family today and for their future generations! What’s more, you can use a life insurance strategy to build a fund that grows on a tax-sheltered basis.

Build a fund – for your golden years!

During the golden years for your life, sit back and enjoy what you have created! Start investing today and relax during your golden years. At such a time, this tax sheltered plan can be useful to provide a tax-free income* through partial withdrawal* facilities.

Secure your family – financial security for your loved ones!

In event, of some unforeseen events like Critical Illness or death, these plans provide for your dependants.

Some Features of Unit Linked Insurance Plans:

Grow your savings

  • An investment opportunity by providing a choice of thoroughly researched and selected investments.
  • You can choose from fund options based on your investment needs and risk appetite.

Flexibility: Option to switch between funds anytime during the policy term*

Security: You have given your family the very best. There is no reason that they should not get the very best in the future too. With an insurance plan, you can ensure that. your family remains financially independent, even if you are not around.

Waiver of Premium benefit: Some Unit linked Insurance plans offer this benefit. This means that in case of death during the policy term, the family will get the sum assured immediately.

Thereafter all the future premiums being paid by the Insurance Company on your behalf and at maturity again you will get a lump sum fund value . Hence your family’s immediate and future financial needs are taken care of.

Source - HDFC

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