Aditya Birla Sun Life Insurance Company Limited
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Let's introduce you to Madhav. He has just quit his first job, and he has moved on to a better position in a bigger company. And of course, he has earned a 30% hike in his salary. Madhav now wants to put this extra money to good use. He wants to invest it. But he also wants a life insurance cover.
So, to find out more about how to cover both these goals, Madhav did a lot of research. And he found the answer in ULIPs. They offer both investing and insurance benefits. And based on the investor's preference, they support investing in equity, debt, and other assets.
Let's quickly take a look at what a ULIP is exactly.
The term ULIP stands for Unit Linked Insurance Plan. It is an investment option that combines the aspects of both life insurance and investment. Confused? Don't worry, here's a brief explanation of the concept of ULIP.
Basically, to invest in a ULIP, policyholders are required to pay premiums periodically. This is just like any other insurance plan. These premiums are used to provide the policyholder with a life cover, and are also invested in funds of the ULIP holder's choice.
If the ULIP holder survives till the end of the investment term, they get to enjoy the returns provided by the ULIP's fund investments. On the other hand, if the ULIP holder faces an untimely death during the plan's tenure, the insurance portion of the ULIP would kick in and provide the beneficiaries with a death benefit. That's not all. The beneficiaries would also receive the returns that the ULIP generated through the fund investments. Sounds like a win-win situation, doesn't it?
Another major advantage of a Unit Linked Insurance Plans is the choice of funds they offer. You can choose from a wide variety of funds like equity funds, debt funds, or a mix of both
Investing in equity is one of the ways people choose for long-term wealth creation. That said, how do you go about doing that through ULIPs? That's exactly what we're going to be looking at in this segment. Here's a brief overview of the process that you would have to follow.
The whole idea of the process mentioned above is to only give you an overview of what might be in store. It may vary slightly depending on the type of service provider that you opt for. Alternatively, if you prefer to make your ULIP equity investment offline, you could always visit the nearest branch of your service provider and get in touch with a relationship manager.
ULIP equity investments invest the premiums that you pay in the equity markets, which can be volatile at times. And so, it is important to know and understand the risks before you actually invest your money. Staying invested in a Unit Linked Insurance Plan for the long-term is one of the best ways to ride out volatility and increase the possibility of steady returns in the future. Now that you know how to invest in equity through ULIPs, you can go ahead and start your wealth creation journey by making an informed choice.
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Buy ₹1 Crore Term Insurance at Just ₹576/month*
Exclusively For Salaried Individuals
4 Plan Options
Life Cover upto 70 years
Optional Accelerated Critical Illness benefit
Inbuilt Terminal Illness Benefit
Life Cover
₹1 crore
Premium:
₹576/month*
Guaranteed returns after a month¹
ABSLI Salaried Term Plan (UIN:109N141V04) is a non-linked non-participating individual pure risk premium life insurance plan; upon Policyholder’s selection of Plan Option 2 (Life Cover with ROP) this product shall be a non-linked non-participating individual savings life insurance plan.
*LI Age 21, Male, Non Smoker, Option 1: Life Cover, PPT: Regular Pay, SA: ₹ 1 Cr., PT: 10 years, Annual Premium: ₹ 6400/- ( which is ₹ 576/month) Premium exclusive of GST. On death, 1 Cr SA is paid and the policy terminates.
ADV/5/21-22/110