Once you realise Ulips are not what you imagined, the urge to exit goes up and that is when you need to know where you stand for a hassle free exit.
Among the many forms of life insurance, the unit-linked insurance plans (Ulips) are most widely discussed for their merits and complex construct. Like every other financial product, if you understand what a Ulip does and take it, you will not be complaining. However, if you have taken it up because an agent sold it to you or you thought it was a wonderful investment instrument, chances are you will be wondering what to do with this lemon.
The year-end sales of Ulips go up mostly due to the last minute tax planning that people get into. Whatever the reason, it is also possible that you may feel the need to weed out Ulips from your portfolio while reviewing it. Before you take that call, you must weigh several options to make sure that you do not end up further compounding the mistake of buying an unsuitable Ulip.
Take the case of 35-year-old Dipan Gajjar from Mumbai; he bought a Ulip, entailing a premium of ₹33,000 in 2010 primarily to claim deductions under section 80C. “I had purchased it for tax-saving purposes, but the returns were poor. I was not happy with the Ulip,” he laments. It is not that only those without a finance background get it wrong; several people well-versed with finance could also get it wrong. Financial services professional Praful Ghildiyal, 28, faced a similar predicament in 2014 when he realised that his Ulip did not meet his requirements.
Diese Geschichte stammt aus der January 2017-Ausgabe von Outlook Money.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der January 2017-Ausgabe von Outlook Money.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Stay Ahead Of AI-Powered Cyber Fraud
AI has become an integral part of our lives, right from customer service at banks to insurance claims. But it has now become a powerful arsenal for the fraudsters too who are increasingly using AI to scam individuals and corporations alike to commit fraud. The key is to stay vigilant
Travelling To Europe? Pack In The Essential Covers
Smart travellers must know that insurance is a must-have. From essential health coverage to theft protection and trip interruptions, know what you need for a worry-free Europe trip
How To Spend Wisely This Year-End
We all spend during the year-end. But the trick is not to overspend or borrow, either from friends, or your own investment, to fund your indulgence. Maintaining balance is the key
Travel Now Pay Later (TNPL)
Travel now, pay later (TNPL) is a close cousin of the more popular buy now, pay later (BNPL) schemes.
12 Books Devina Mehra Loved Reading In 2024
Listing books of her choice, among the ones she reads during the year, is ace investor Devina Mehra's favourite year-end activity. She says it's a daunting task to pick around 12 books from a list of 50.
Here's How To Avail Of Ayushman Bharat Yojana
Launched in 2018, the Ayushman Bharat Yojana aimed to provide health coverage to targeted benefi ciaries from the Socio-Economic Caste Census (SECC) 2011, based on deprivation and occupational criteria.
'Focus On The Business, Assess If You Want To Be A Partner For 10-20 Years'
Professor Sanjay Bakshi, a value investor, behavioural economist and adjunct professor at Flame University, Pune, gives his unique perspective on how to choose a stock, in an interview with Nidhi Sinha, editor, Outlook Money, as part of the Wealth Wizards series. He also shares his learnings from role models Warren Buffett, Charlie Munger, Benjamin Graham and others, and how being a chartered accountant, economist, investor and teacher make him into what he is today. Edited excerpts from the interview
The New Trump Card For IT, Pharma
Donald Trump has been re-elected as the 47th President of the US after a gap of four years. Here's how it will affect the Indian markets and how it will benefit sectors such as IT, pharma, export-oriented sectors and others
European Sojourn
Tight on budget? Dump the popular European destinations for the little-known wonders that are equally attractive
Gold ETFs And FoFs
While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.
