There are two things that we need to help secure financial security both now and in the future for you and your family and they are life insurance and investments, which is why ULIPs are such a great idea because they combine the two.
Having a Term plan helps you to provide a financial safety net if you are no longer around to take care of your loved ones and the benefits of life insurance plans are there for all to see. If you are looking for some compelling reasons why 2020 should be the year you invest in ULPs here are some to consider.
An efficient way to meet your needs
It is worth pointing out that the costs associated with ULIPs used to be much higher than they now are so you definitely shouldn’t dismiss the idea of investing because you think it might be too expensive.
Quite the opposite, in fact.
ULIP charges are now considered to be very reasonable and cost-effective when you consider what this financial product offers in terms of coverage and potential investment gains. ULIPs can be considered an efficient way of covering your financial plans and compare favorably to equity-based mutual funds.
A good way of gaining exposure to investment markets
ULIPs offer you a choice of investment strategies and options so you have control over the sort of funds that you want to invest in. This means that ULIPs offer investment opportunities that cater to your financial outlook and whether you want to try and grow your money as quickly as possible or take a more long-term steady approach to invest.
You will also discover that some ULIPs allow you to adjust the balance of your portfolio to give you an even greater element of control and comfort over how your money is being invested.
Great for long-term planning
The key to financial security and success often revolves around having a long-term set of goals and implementing a plan that allows you to meet those goals. It can be quite challenging to try and grow your money within a short space of time and that will often involve taking a few risks that you may not feel comfortable with.
The best investment strategy often involves taking a long-term view that extends beyond 10 years or more, which gives you the time to build your wealth by treading a proven path to positive returns by giving your money time to earn its keep.
To summarize, you could look at buying insurance and investment products separately but it is well worth considering what ULIPs have to offer when you consider that they are able to deliver a fairly unique advantage of giving you an investment option while providing life cover at the same time.
ULIP’s have the ability to give you the best of both worlds and that means they have the capacity to give you the peace of mind that you have your needs covered now and in the future.
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