People spend their whole lives working hard for their family and loved ones. Holding on their professional life and creating a valve of greater professional goals helps people to establish a strong financial excellence. People tend to believe in investing their finances into something which is more beneficial and helps in sustaining financially secure future. Investments are broadly defined as abstracts like, time, energy, or matter which is spent for creating a hope of futuristic based benefits. These benefits are expected to be acquired within a specific date or time. For many people investments can have different meanings depending upon their personal beliefs. In finance, Investments are defined as a process of putting money into creation of assets with a positive expectation of capital appreciation, dividends and earnings. Insurance in Modern days is considered to be the best option for futuristic benefits.
Investment insurance plans basically aim for target audience which understand the market risks and want to insure the investments that they own. Insurance not only provides them with safety coverage of their investments but also helps in providing tax exemptions on investments. INVESTMENT-PLAN Therefore making them a tax free investment. Investing for beginners is much easier than at the later stage. For beginners the rate of premium is much more less than at the latter stage. In case of occurrence of death of the insurance holder the benefits are given to the nominee chosen by the insurance holder. An investment insurance plan has a specific time frame till which an insurance holder needs to pay premiums. This Time frame is selected by the insurance buyer at the time of buying the policy. Ulip Plan or Unit Linked Plan is defined as a combination of insurance as well as investments. The premium paid by the policy holder is utilized by the insurance provider to provide insurance cover back to the policy holder whereas the rest of portion is invested in various equity and debt schemes. Unit linked policy holders are given features like top up facilities along with an option of switching funds during the tenure of the policy.