| In India,ULIP insurance policies are on the top in the | | | | more. But, under single premium product nobody will |
| popularity chart because it offers more benefits than | | | | ask you to pay more as a matter of commitment. |
| traditional life insurance plans. There are many | | | | In the initial years of ULIP, single premium product |
| benefits are available such as higher returns on | | | | offer better returns than regular premium product. |
| investment, partial withdrawal, flexibility to choose life | | | | But, it's balance power shifts down latter. But this is |
| cover, wider fund options, top up facility, free | | | | not in effect, the product is sold very aggressively |
| switches, tax benefits, etc. | | | | due to IRDA norms. Regular premium ULIP products |
| If you are looking for long term investment and | | | | are also good in various factors such as affordability, |
| better returns, ULIP is a right option to achieve your | | | | tax benefit and large return. |
| goal. But, you may find difficulties while purchasing | | | | There are also ULIP charges to consider than single |
| the ULIP, because there are single and regular | | | | and regular premium. It is also important to take a |
| premium option. You have to choose the right option | | | | overview of different charges are under ULIP plans. |
| for you. | | | | It includes premium allocation charge, risk cover |
| In single premium ULIP, you need to pay a single | | | | charges, policy administration charges, fund |
| payment and you will enjoy the benefits throughout | | | | management charges, service tax charge, |
| the policy term. In case of regular premium, you need | | | | miscellaneous charge, etc. |
| to pay premium on regular basis, it can be paid by | | | | At the end, ULIP is a good mixture of life cover and |
| annual, half annual, quarterly and monthly mode. | | | | investment. But don't buy it for investment purpose |
| In terms of investment, both products offers similar | | | | only, there are another good options available for the |
| options like equity, debt and liquid. Under regular | | | | investment. |
| premium option you may ask for commitment to pay | | | | |