Buy Insurance & Savings Plan to Enjoy Life Better
‘Life chronicles’, like education, new job, marriage, cannot be overlooked and the expenses are a major chunk of the long bills. Nobody can bother more about your expenses than you. The major challenge we face is the lack of sufficient funds or the ability to save and invest. Hence, having the best investment plans during the high yearning age of life to yield the maximum benefits for self and family is a priority.
Making retirement savings and focusing on investment to make room for minimum risk tolerance and optimum benefits make life much easier by putting a cap on those indexes of life which has an after effect on the financial stability. Now, while investing we look for products solely based on its past performance which definitely has a zero risk structure and gives more payouts and obviously is the least expensive in the market. It is just now when the best insurance plan proves to a great investment in life.
The Life Insurance Corporation of India has come up with this plan, LIC Market plus 1- Balanced Fund. The idea behind a balanced fund is that the money can be divided between equity and debt into a pre-determined proportion. The basic thought behind this ULIP plan is to invest into different instruments if any market volatility expected by providing the flexibility to fund manager to shift some of his funds to fixed income securities hence, providing a fall back option in such case. This ULIP plan is the best suitable for investors with medium risk tolerance horizon and seek for a certain degree of safety while investing.
‘Life insurance is like no other financial instrument with its ability to complement you over the years. ‘
Why LIC Market Plus 1- Balanced Fund?
The LIC Market Plus 1 allows to cap the looses to an extent by allowing the investor to shift some funds so that the equities with a better growth potential can also be captured. It is the best investments keeping in mind the lower risk tolerance horizons of the investor with the risks best controlled and providing benefits for the long-term goal like retirement plans, marriage, education or the living expenses after any uncertain event.
This ULIP is a pension plan which provides deferred payments which you can buy with or without life insurance cover. Also you can choose the degree of your cover considering the limits that depends on if the policy is a Regular premium contract or a Single Premium contract.
Benefits under LIC Market Plus 1- Balanced Funds
A) Death Benefit:
If the policyholder opts for life cover also, the Sum Assured under the Basic Plan with the Fund Value of units either as a lump sum or as pension. In a case where the policy is bought without a life cover then the unit fund value held in the policyholder’s account is payable either as pension or lump sum. The pension amount to be paid depends on the current annuity rates falling under the annuity option that is chosen.
B) Accident Benefit Option:
In a case when you opt for life cover also, then you can also choose the Accidental Benefit which is equal to life cover, an additional amount which is equal to Accident benefit will be payable.
C) Benefit on Vesting:
If the policyholder survives till the complete vesting date, then the fund value of the units in his unit linked account will certainly be used to give pension which depends on the annuity rates of the very annuity option chosen. Though he may also choose to get one third of the benefit amount to be paid, also he can to get the one third of the benefit amount to be paid in a lump sum. Additionally, he can choose to buy pension from any other insurance company or Life Insurance Corporation itself.
