Calculator for a Unit Linked Investment Plan, or ULIP, combines investment with insurance. Due to the hybrid nature of the product, a portion of the ULIP premium goes towards life insurance, while the remaining sum is invested in a fund chosen for wealth accumulation. If you understand the true meaning of ULIP,you will realise thatULIPs are a fantastic option for achieving a variety of long-term objectives, including retirement, child education, a dream home, and corpus building. Cost and returns are the major factors that are compared when investing in insurance products for wealth growth. The most reliable tool for making comparisons and purchases is the ULIP calculator.
A tool called the ULIP return calculator was specifically created to assist investors in determining the maturity amount based on their anticipated future investment value and returns. Additionally helpful is the ULIP calculator’s return-based comparison of several ULIP policies.
ULIP Calculator – Procedure in Steps
A straightforward procedure must be followed in order to use the ULIP calculator to determine the returns on ULIP plans. This is how to use the ULIP calculator step by step.
- To acquire free access to an online ULIP calculator, go on to any reliable website or online source.
- You are prompted to provide some basic information after you log in to the ULIP calculator website, including your name, date of birth, gender, contact information (including your mobile number and email address), and your smoking habits.
- Provide details on ULIP investments after that. Enter the premium or investment amount that you want to make in a ULIP. Keep the premium amount reasonable and affordable when entering it.
- Choose the deluxe frequency. Over the duration of the insurance, the amount you desire to invest must be paid on a monthly, quarterly, half-yearly, or annual basis (according to the premium payment style you choose). Select it based on your preferences.
- The following step is to decide how long you want to invest in a ULIP. Consider carefully how long you want to keep investing in a certain ULIP plan. Consider your long-term objectives and investing goals as you make your tenure decision.
The ability to select the investment fund of your choice is provided by ULIP (mix of debt, fixed income and equity in various proportion). Make sure to select the appropriate investment fund selection while considering your risk tolerance, investment goal, and market conditions. If you want to know the performance of a specific fund option, you can also seek the advice of specialists.
To get the estimated return information for the intended ULIP plan, click the “calculate” tab. I’m done now! This allows you to compare different ULIP plans.
The ULIP Calculator’s features
Online ULIP calculators offer a variety of features to assist you in comparing different ULIP plans by estimating the future value of your ULIP investments and returns. The main characteristics of the online ULIP calculator are listed below.
- Transparency: Online ULIP calculators are renowned for displaying return calculations in a clear and understandable manner. Every fund’s return may vary depending on the state of the market. The most transparent way to determine the return for a particular fund over the tenure or time period of your choosing is with the aid of a ULIP calculator.
- Flexibility: The online ULIP return calculator gives you the greatest level of freedom to choose how much money to invest in a You can adjust the premium payment and policy duration using the ULIP calculator to determine the expected future investment value according to your financial situation, needs, and preferences.
- Planning tool: An online ULIP return calculator can be a useful tool when you are planning your finances and thinking about investing in ULIP plans. It aids you in determining which investment fund, based on your risk tolerance and investment purpose, can clearly meet your investment demands.
An online ULIP calculator can be used to evaluate and analyse the projected returns of the various ULIP products that are currently on the market. You, as an investor, can make wise investment selections by using a ULIP calculator to estimate returns and perform a comparative cost-benefit analysis of the plan.
Full control over decision-making: You have entire control and clarity over your investment decisions since you can compare different premium and policy tenure combinations (depending on your needs, preferences, and affordability) to find out the future-estimated worth of your ULIP investments.
The ULIP calculator’s simplicity of use, accessibility, and low cost can all aid in your ability to make more informed financial decisions. It is important to understand the true meaning of ULIP to invest well.
