New Age ULIP – One of the preferred Online Investment Option in India

23rd November 2018
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New Age ULIP – One of the preferred Online Investment Option in India
In line with government’s Digital India initiative, more and more people are becoming internet savvy. Digitization has changed the way people like to do things such as shopping, banking and even buying life insurance. It has given the customers the power of choice and convenience and have made buying and services easy and more transparent.
Today, every life insurance company offers multiple plans online and this helps you choose and finalize the right plan to meet your cherished life goals.
Unit Linked Insurance Plans (ULIP) offered by life insurance companies have also transformed over time. The new age online ULIPs have become a value-packed proposition for the customers. They now offer more benefits to customer, and are cost and tax efficient.
Let’s find out what makes the new age online ULIPs an attractive investment option for investors:

1. Buying benefits:
In online ULIPs, due to absence of any intermediary the allocation charge (if any) will be lower as compared to purchasing through non-online channels where the customer buys directly from insurance company. As the general principle goes, more the units, more is the fund value. ULIPs levy a mortality charge in order to provide the life insurance cover. However new age online Ulip, Bajaj Allianz Life Goal Assure, offers Return of Mortality Charges (ROMC) or return of life cover charges. This one of-its-kind benefit guarantees, the total amount of mortality charges deducted  throughout the policy term, to be returned to the fund value when the policy matures, provided all due premiums have been paid. This enhances the corpus at maturity and enables customers to enjoy more returns on their investments.

2. Convenience of purchase:
Today you can purchase ULIPs online round the clock from the comfort of your home or office, or even while on the move. All you need to do is, simply log on to the website of the insurance company of your choice and fill in details on the online form. All details of the policy you choose are well documented in the website allowing you ample time to study in detail and then pick the right policy as per your requirements

3. Provides easy comparison and informed deal:
While buying ULIPs online, you can check for the reviews as well as get an overall idea about the product. Reviews are important as these are feedbacks given by existing customers about the benefits offered, coverage, features, claim process etc, which is very important for weighing the pros and cons and selecting the right ULIP to meet life goals.

Every insurance company does not offer an online ULIP so it’s a good idea to check whether the company of your choice is in fact offering one. If you are confident of making the right ULIP investment for your risk profile and time frame, then the online new age ULIPs are one of the best investment options in India for you to help you in getting your Life Goals Done.

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