- Written by PolicyBazaar
- Views: 5379
Modified 13 November 2015
Those who are looking for an ideal investment vehicle for 2014 can surely opt for the Unit Linked Insurance Plan (ULIP), without much speculation. People who were averse to ULIP even sometimes back are opting for it once again naturally because of the related benefits, which make it a worthwhile investment option in the current scenario. You can be assured of a minimum sum in the range of 10 times the total premiums that you pay and this is quite substantial.
Long Term Effectively
One of the main reasons why investors believe that ULIP plans are an ideal investment option in 2014 is because of its long-term effectiveness, which makes it a worthwhile choice in all respects. If you want to enjoy the associated benefits, it is necessary to stick around for the term- end since this is the time when its real glamour is revealed. Those who are deterred by this plan are put off by the short-term returns, which is not after all what ULIP is meant for.
Amendments Make Ulip A Worthwhile Option
Those who are basing their decision not to invest in Unit Linked Insurance Plan are considering the 2010 scenario when this was not something, which seemed glamorous and worthwhile by any standards. Today, however the situation has changed much especially in view of recent IRDA amendments. This ensures higher protection for the consumers. In order to do away with the misleading view that ULIP is a short-term plan, IRDA has increased the lock in period for this scheme, from the earlier three years to five years from now. This attracts only those investors who are after long-term gains.
Ideal for Regular Customers
If you are not aware of various investment options, and how to go about them, Unit Linked Insurance Plan may just be the ideal vehicle for your needs. When you deal with financial advisors, they always try to suggest a combination of mutual funds and life insurance. Through ULIP, you ensure not only long-term maturity benefits but also a substantial capital gain.
One of the main benefits of ULIP is that it provides investors with flexible options to choose from based on their preference and capabilities. You can go for low to high-risk choices under the same policies. This is something unique and helps to find so many takers for this plan in 2014. Those who want can easily switch from one fund option to another without any additional charges for the same. Again, it is possible to go for one time increase in your current investment portfolio with matching returns in the future scenarios.
Those who want to play safe and see their money grow surely and steadily over a period have no other option, which is better than ULIP, in view of long-term investment. It gives protection to your money with good returns in the coming times. With so many benefits, riding on its shoulder Unit Linked Insurance Plan is surely a worthwhile choice to consider when you are trying to find a safe and solid option this year.