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Plan Your Retirement With Low Cost ULIPS Now

You can invest in a ULIPs, which is a low-cost, long-term investment alternative to strengthen your retirement plans

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Retirement
Ulips meaning is to provide wealth creation along with an insurance cover where the insurer invests a portion of your money towards life insurance and the rest in a fund which matches your long term goals such as Retirement planning. 

“Retirement is when you stop living at work, and start working at living.”

Early Planning for your Retirement is one of the wisest things to do. After all, you wouldn’t want to be dependent on anybody to meet your basic financial needs. Efficient planning at an early age can help you fulfill your dreams that you had possibly forgotten. For instance, you could go on a world tour with your significant other once you hang your boots. Or if you have kids who are dependent on you, a retirement corpus will come handy for their higher education or in prestigious events such as their marriage. 

Saving money to fund a comfortable and worry-free retirement is perhaps the biggest reason people invest. Finding the perfect balance between risk and investment return is key to a successful retirement savings strategy. 

What Is A Ulip?

A Unit Linked Insurance Plan is a mix of insurance and investment. When you invest in ULIP (Unit Linked Insurance Plan), the insurance company invests a part of the premium in shares/bonds, and the insurer utilises the balance amount in providing an insurance cover. Ulips meaning is to provide wealth creation along with an insurance cover where the insurer invests a portion of your money towards life insurance and the rest in a fund which matches your long term goals such as retirement planning. 

Retirement
Early Planning for your Retirement is one of the wisest things to do. After all, you wouldn’t want to be dependent on anybody to meet your basic financial needs. Efficient planning at an early age can help you fulfill your dreams that you had possibly forgotten.

Why should you consider Low Cost Ulips for Retirement?

You can invest in a ULIPs, which is a low-cost, long-term investment alternative to strengthen your retirement plans. It’s a type of a pension scheme that combines both insurance and investment. It’s a way to invest in market-linked pension products, which yield high returns.

  • Higher Returns

Ulips offer higher returns on your investment, from which you can build a significant corpus by the time you retire, giving you the much needed financial support that one requires in their old age. Therefore, it is suggested to start planning and investing as early as possible, which will result in a considerable sum by the time you retire. 

  • Top-Up Option

You are 30, and you decide to buy a ULIP. After a few years, your income has grown substantially, and you want to invest this surplus somewhere. So what’s better than adding it to your retirement corpus—an option only available in ULIPs. Unlike in the traditional pension plans, your insurers allow you to increase your investment in a ULIP pension plan, thus assuring you a higher return by the time you retire. 

  • Tax Benefits

The premium payable on ULIPs is eligible for a tax deduction under Section 80C upto a maximum of Rs 1.5 lakhs in a financial year. Moreover, the amount you receive on maturity is tax exempt under Section 10(10D). 

 Under ULIPs, the key is always to keep the policy going for a longer time horizon to reap the best out of it. If your financial goal is wealth creation and you want to save funds for retirement, ULIP is one of the best options available.

Retirement
Early Planning for your Retirement is one of the wisest things to do. After all, you wouldn’t want to be dependent on anybody to meet your basic financial needs. Efficient planning at an early age can help you fulfill your dreams that you had possibly forgotten. Pixabay

 Once you identify your financial goal and the type of ULIP that will help you achieve it, the next step would be to compare the ULIP products in the market. Look for comparison in the form of background expenses, premium payments and ULIP performance. Also, investigate the nature of funds that the ULIPs invest in to ascertain the returns from investments in the particular ULIP.

The lock-in period for ULIPs is five years. The long lock-in period ensures a significant corpus for your long term goals. ULIPs from reputable insurers such as Max Life Insurance provide various options for retirement that allow you to choose your premium amount based on your risk appetite.

ALSO READ: The Reasons of Investing in Luxury Watches

Knowing your post-retirement expenses is a crucial step in retirement planning. Some expenses such as clothing and entertainment usually go down, other such as medication and travel go up.

 Therefore, it is essential to begin retirement planning, preferably the moment you start earning.

 

Next Story

Flipkart Leads $60mn Investment in Logistics Platform Shadowfax

"With the new round of capital infusion, Shadowfax plans to invest extensively in building long-term capabilities which are essential to developing an efficient and superior service quality ecosystem in Indian logistics," said Abhishek Bansal, CEO, Shadowfax

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Flipkart Buys Back Shares Worth $350 mn.
New e-commerce norms to impact e-tailers: Flipkart. IANS

Walmart’s Flipkart has led a $60 million financing round in logistics platform Shadowfax as the online retailer looks to expand hyperlocal delivery capabilities.

This investment is part of a Series D funding that Shadowfax has received from Eight Roads Ventures, Nokia Growth Partners, Qualcomm Ventures, Mirae Asset Naver Fund and World Bank backed IFC.

Flipkart has an existing partnership with Shadowfax to fulfil logistics requirements across various categories in its e-commerce business.

“At Flipkart, we are focused on redefining customer experience, and hyperlocal is a key element to enable this transformation,” Kalyan Krishnamurthy, Chief Executive Officer, Flipkart, said in a statement on Thursday.

amazon, china, flipkart
FILE – A worker removes an advertisement billboard of Indian online marketplace Flipkart, installed along the roadside in Mumbai, India, Oct. 16, 2015. Amazon.com Inc. is concentrating on India and its competition, Flipkart. VOA

“We have seen strong synergies with Shadowfax through our existing engagement with them, and their investments in tech-enabled innovations will help us significantly reduce delivery time and provide superior customer experiences across product categories,” Krishnamurthy added.

Founded in 2015, Shadowfax currently enables delivery of 10 million monthly shipments across diverse segments ranging from hot food to grocery to fashion, electronics and other e-commerce items.

Also Read: Delhi’s Air Quality Still Remains ‘Very Poor’

The company will use the funds to enhance the tech capabilities of the platform, recruit talent, increase the number of shipments to 100 million a month and expand its geographical presence to 1,000 Indian cities, Flipkart said.

“With the new round of capital infusion, Shadowfax plans to invest extensively in building long-term capabilities which are essential to developing an efficient and superior service quality ecosystem in Indian logistics,” said Abhishek Bansal, CEO, Shadowfax. (IANS)