It is widely suggested to plan for your long term goals and then link them to a tax saving investment.
The tax saving season for the financial year 2019-20 has just begun and now most taxpayers would be searching the right tax saver and may make an investment mistake in the process. Remember, tax saving should only be incidental to your investments, and rather should be linked to one of your long term goals.
Unit-linked insurance plan (Ulip), is one such tax saver which suit investors who do not have the financial discipline and inclination to keep investment and insurance separate, but yet need to save for their long term goals. Ulip, of all the investment options available, is one such product that can help meet all the long term goal through a single purchase itself. Because of its lock-in and longer horizon, Ulip instills investing habit in investors. Ulip is typically a combo of protection and savings. This makes Ulip a hybrid investment wherein several factors such as premium, duration of the plan, mortality, fund administration charges, allocation charges to name a few, interrelate and impact each other.
Some of the long-term goals could be buying/ arranging a down payment for a home loan, funding of children education, marriage, or planning for one’s own retirement. All of these are possible to meet through a single Ulip. A single ULIP can be used to meet multiple savings goals using features such as partial withdrawals, multiple fund options, premium payment, and policy term options. They can be effectively used for wealth creation, retirement or child education depending on your financial goals.
この記事は Investors India の May 2019 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Investors India の May 2019 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Indians are Developing Weak Bones
In India, 1 out of 8 males and 1 out of 3 females suffer from osteoporosis, making India one of the largest affected countries in the world.
"The strategy behind the Tata India Innovation Fund centers on identifying companies that are driving transformative or incremental changes through innovation"
Yes, we certainly believe innovation is a powerful theme with immense potential for the coming years, and we are excited to bring it to our investors.
What is Hybrid Mutual Fund?
Hybrid Mutual Fund is a combination of more than one type of fund. While they invest in shares of companies listed on the exchange, like equity funds.
Should you invest in dynamic bond funds?
Dynamic bond funds have delivered a category average return of 8.68 per cent over the past year, making them the fourth best-performing category, following long-duration funds, constant maturity gilt funds, and gilt funds. With interest rate cuts yet to begin, these funds remain a viable option for investors seeking to benefit from possible rate reductions.
The Multicap Solution to India's MultiDimensional Growth
India is entering a transformative era of economic growth, backed by a unique combination of demographic strength, infrastructure development, and rising global prominence.
The Long-Term Benefit of Investing in Children's Future
A child is the most treasured part of any parent's life, and naturally, we want to give them the best of what the world has to offer. This often means not only ensuring we can meet their needs but also nurturing them to pursue their unique aspirations. Each child has their own dreams and challenges, making the early years critical as they lay the foundation for a healthy and fulfilling future.
ASK THE EXPERT
Ques. One of my friends told me that your company provides detailed Retirement plans. I want to know what is the procedure to get my Retirement plan. I will be retiring in March 2025. R.P Gupta, Noida
How to Naturally Reverse Fatty Liver Disease
The liver, located on the upper-right side of the abdomen, is the body’s largest internal organ and plays a critical role in detoxifying the blood and processing nutrients.
Banking sector which has underperformed in the last two years, now offers a favorable risk-reward profile
Do you think the market is overpriced? Is yes, should investors refrain from investing in index schemes at the current valuation?
India will continue to enjoy benefits of a close US relationship and trade will continue to grow
Q1. The US elections are said to be one of the closest till date, what impact will the election of a Republican / Democratic party have on the US economy and how is that going to affect India in the short as well as the long term?
