Investments are no longer just about saving for the rainy day. We want to invest to get best possible returns on our investments to achieve our life goals and aspirations. Over the last few years, Unit Linked Insurance Plans (ULIPs) have emerged as a preferred choice of investment for wealth creation over the long-term. It meets the dual purpose of providing life cover along with returns from investment to fulfill financial goals. In addition, ULIPs also provide tax benefits.
But before you invest in ULIP plans, it is important to be clear about certain factors like your needs, life goals and risk-taking capacity, among others, so that you can zero in on an investment plan in keeping with your life goals.
Here are a few factors to keep in mind as you go about finding the ULIP that best suits your needs :