How To Buy ULIPs Plans Online 2021?
Updated On Nov 25, 2021
Table of Contents
A ULIP (Unit Linked Insurance Plan) is a great investment product that manages to combine wealth accumulation and insurance in one package.
In comparison to other new investments, a ULIP offers the benefit of incorporating investment and insurance into a policy proposal. When faced with life's uncertainties, a ULIP ensures that your family's safety is secure in any circumstance.
The premiums paid for a Unit Linked Insurance Plan are spread out over time to cover both your insurance and investment needs. A portion of the premium is allocated to the ULIP insurance component, which provides you with life insurance while the ULIP is in effect. The remainder is invested in debt, equity, or a combination of the two following your long-term financial goals.
How To Buy ULIPs Online?
Below are a few steps to buy a ULIP online and the benefits of it:
1. How To Make An Online Purchase?
Step 1: Go to the website of the life insurance company where ever you want to purchase the policy.
Step 2: Choose a product that will help you accomplish your Life Goals and enter your personal information.
Step 3: Make a payment online through your favored life insurance company's methods of payment, and publish a photocopy of all supporting paperwork.
Following the introduction of online ULIPs, many investors have chosen to invest in them. This is because internet purchases are frequently less expensive and more convenient than offline purchases.
2. Maturity ULIP Benefits
You have signed up for a one-of-a-kind financial instrument with a ULIP, which provides you with numerous ULIP benefits. When a policyholder pays regular premiums to keep the policy in force, they are entitled to maturity ULIP benefits if they survive the policy's tenure. At maturity, the account holder obtains the present value of the ULIP fund, as well as any declared loyalty expansions and perks.
3. Death ULIP Benefits
If the account holder dies unexpectedly during the tax policies term, the nominee/beneficiary named in the strategy obtains the deterministic sum assured as ULIP survivor benefits. You can guarantee that the benefactor receives the sum assured as well as the fund's net present, or whichever amount is greater than the ULIP benefits, guess it depends on the ULIP benefits selected.
4. Regularity In Savings
While everyone understands the importance of saving regularly, the truth is that most people do not allocate the necessary funds to saving because they believe it can be done later. Saving money, in whatever amount is possible, on a regular and consistent basis is the key to long-term financial security and success. Another of the benefits of a ULIP is that it tries to teach the savings culture on a routine basis by setting aside premium payments. Then you can sit back and enjoy the wealth-building benefits of a ULIP.
5. Premium Redirection ULIP Benefits
The ability to redirect where a specific premium amount will go is another investment flexibility provided by ULIP benefits. You can not only specify which funds you want your premium redirected to, but you can also specify the percentage of your premium that you want to be allocated to each fund.
Unit-Linked Insurance Plans (ULIPs) are continuing the pattern of online transactions and have become the preferred way of payment. The majority of India's top insurance companies now offer ULIPs through a simple online process.
The days of going directly to an assurer's local branch to invest in insurance coverage are long gone. Purchasing insurance has become as simple as internet shopping, thanks to technological advancements.
You may also like to read - Putting a Spotlight on ULIP Returns in 10 Years
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.