Investment 101: Learn how ULIP can be a good option for new investors

Earning is tough, and the nine-to-five working hours is a fairy-tale!

Working professionals would agree that limiting the job hours within the 9-to-5 timetable is very difficult. Most of us need to stretch a little to answer the call of duty.

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Saving money is even more challenging for many people, but saving money and making smart investments are crucial for future security. For those who are struggling to find an effective way of saving money, ULIP or Unit Linked Investment Plans can be a great tool. It is an amalgamation of investment and insurance.

ULIP provides life cover and also offers an opportunity to create wealth – in just a few clicks.

What are the benefits of ULIP?

When someone invests in a ULIP, a minor portion of their investment goes into insurance while the rest of it is invested in the market. It is a flexible investment option that has the following benefits –

● ULIP gives market linked returns

● ULIP offers protection, savings, and investment

Who should invest in ULIP?

There are several investment or wealth creation options in the market, but not everything is for everyone. Although the nature of ULIP attracts many investors’ attention, some may find it a bit too safe for their liking. So, who exactly should invest in ULIP?

ULIP is for –

● those who wish to track their investment steps

● those who have a medium to long term outlook on investment

● those who have a varied risk-appetite

Investment is a relatively long-term process. Therefore, people should always start their investment journey early in their careers and find a plan that suits them best.

How to find the best ULIP Plan?

Finding the best investment option requires some serious research. For first time investors, it is recommended to consult with a financial adviser before choosing any plan. Those who want to get an idea about what a brilliant ULIP plan looks like, can check out HDFC Click 2 Wealth Plan.

What does the HDFC Click 2 Wealth offer?

It is a unit-linked, non-participating life insurance plan that offers market-linked returns. Investors can use this investment plan to meet their long-term goals. Here is a list of some benefits of purchasing HDFC Click 2 Wealth ULIP Plan –

● Choose from 10 Funds to maximize your investment

● Enjoy unlimited free Switching option

● Minimal Charges*: Only Fund Management charge towards managing your funds and Mortality charge towards your life cover

● Enjoy special addition of 1% of premium allocated to your fund for first 5 years

● If you opt for the Premium Waiver option, all your future Premium(s) will be waived off, and your funds will stay invested in case of death of the proposer

● You can opt for systematic withdrawal from your funds for post-retirement income

● Return of Mortality Charges (ROMC) on Maturity: In case of Premium Waiver option, Mortality charges pertaining to only the Life Assured would be refunded

To Conclude

For every working professional, it is always wise to have a sound retirement plan. With the increasing prices of essentials and commodities, building a corpus of funds for future use may not be enough. A smart move would be to opt for an investment plan that also covers life insurance. To learn more about ULIP plans, consult an expert today.

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