How to Select the Best ULIP Plan?

5 Steps to Choose the Right ULIP Plan

Steps to Buy a ULIP Policy Online

Factors to Consider Before Investing in ULIP Policies

FAQs About How to Choose the Best ULIP Plan

Is it essential to check the solvency ratio of an insurer while selecting the best ULIP plan?

Yes, it becomes mandatory to check the solvency ratio of the insurance company to ensure that they will settle the claim as soon as you raise them. You can instantly view them on the homepage of the insurance provider.

Who should invest in ULIPs?

Anyone looking to maximise their returns from investments can invest in ULIP. However, it is a fitting plan for individuals with a high-risk appetite, hands-on investors, and people with long-term financial goals.

What is the most suitable ULIP duration to reap higher returns?

The lock-in period of ULIP is five years, so it becomes mandatory to select a longer tenure. Being a long-term investment plan, you can choose a term of 15 years or more to get higher returns from ULIPs.

Are ULIPs good for long-term investment?

Yes, ULIPs plans offer a high return on investment over the long term. Since it comes with a lock-in period of 5 years, you can easily invest in them without getting lured about premature withdrawals during this period.

How is the value of ULIPs determined?

The value of various ULIPs are determined based on the Net Asset Value (NAV) of the funds where you are putting your money. To determine the NAV of funds you will have to subtract the liabilities from the value of assets in your fund.