ULIP Calculator Features and Benefits

ULIPs are considered a great wealth creation tool. They separate the premiums received into two categories: life insurance and fund investments. Different companies and websites provide ULIP calculators to assist investors in selecting the best ULIP based on a comparison of premium costs and returns of various plans.

We've described the advantages and benefits of using a ULIP calculator in this article.

Features of ULIP Calculator

Given below are the primary features of a ULIP calculator - 

1. Flexibility

The ULIP calculator allows you to change the premium amount and policy tenure to determine the estimated future investment value based on your affordability, need, financial goal, and personal preferences.ULIP calculators are versatile in that the investor can modify the variables according to the amount of money they want to invest and the policy's term.

2. Transparency

Online ULIP calculators are well-known for providing transparency in return calculation. The return on each fund may vary depending on the market situation. The ULIP calculator provides you with the most transparent return for a specific fund over a specified tenure or time period.

3. Financial Planning Tool

Although it has already been mentioned, online ULIP calculators can be a useful financial planning tool. However, depending on your life stage, it will also give you an idea of the plan you want. It is structured to give you a better insight into the fund options and the benefits they might yield in the future.

4. Option To Analyse Fund Alternatives

It helps the investors in analysing different fund options, leading to a comparatively better decision and higher chances of receiving profit in the future.

Benefits Of ULIP Calculator

Following are the benefits of using a ULIP calculator:

1. Easy To Use

ULIP calculator is an effective way for investors to measure the amount expected at maturity of the policy. This feature is user-friendly and easy to navigate. 

Investors, novice,s or experts can make use of a ULIP calculator to determine the sum assured after investing a specific amount for a particular tenure and make informed decisions.

2. Helps In Strategic Planning

ULIP calculators can help you strategize your investments based on your age, financial goals, and risk tolerance. Investors new to this plan might find themselves stranded and confused, a ULIP calculator will come in handy in such situations and aid in planning according to the current situation of the investor.

3. Inexpensive

Using a ULIP calculator can save money for investors because it is a very profitable alternative. It will make the process much easier for the investor. In addition, it is absolutely free.

Endnotes

Given the intricate design of a ULIP plan to fetch higher payouts, determining what kind of returns you may expect from a certain investment tool can be challenging. This is where a ULIP Calculator comes in handy. It guides and analyses the funds, leading the investor to a more profitable result in the long run.

Also Read 

ULIP As An Investment Option For Senior Citizens

Are ULIPs Better Than Fixed Deposits?

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.