A top-up premium is an investment that you make in your ULIP (Unit Linked Insurance Plan) over and above your contracted premium. There is no compulsion to make such an investment. If you are paying top-up premium, you are paying it of your own free will. In this post, let’s look at why you should avoid topping up your Unit-Linked Insurance Plan (ULIPs). What are the problems … [Read more...] about Why you should avoid topping up your ULIP policy?
Mr. Sharma was a smart man. He made sure that his family did not have to make any compromises even if something were to happen to him. He had bought a term insurance cover of Rs 1 crore. Additionally, over the years, he had built up an investment portfolio of Rs 70 lacs. Of his total investments (Rs 70 lacs), 70% was in equity mutual funds to provide for his children’s … [Read more...] about Pass your financial knowledge too, not just your investments
Every parent wants the best for his/her child. It is every parent’s wish that financial constraints do not come in way of his/her child’s education or career. Hence, when you are approached with a specific investment plan to provide for your child’s future education or wedding expenses, the product becomes too irresistible to ignore. The sales pitch is so strong that you start … [Read more...] about Unit linked child plans: Should you buy?
It is that time of the year again when you have to submit investment proofs to your employer to get tax benefits under section 80C. In this article, we discuss ULIP (Unit Linked Insurance Plans), insurance cum investment products that qualify for tax benefits under section 80C and whether you should go for ULIPs. We will discuss various cost elements, maturity and death … [Read more...] about ULIPs < Mutual Funds + Term insurance