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Learn why ULIP is the right choice for you

Author: Jessy Jose
by Jessy Jose
Posted: Jan 17, 2017
whole life

Now that you have started working and maybe saving, how can you secure your life while at the same time making more money out of how you can save? Traditional forms of insurance like whole life policy, term plans provide the best of insurance while the scope of making money is limited. In the case of whole life insurance, after your demise - your beneficiaries get the death benefits. A term life insurance, at the same time, works just like whole life insurance but for a limited period of time not your entire life.

But if it comes to creating wealth, what are the kinds of investments that will help you? You can avail pension plans if you work for the government or if your company provides for such provision. If not, then what do you turn to? Making investment in properties and jewellery is always a good idea. But this doesn't mean that that’s the only way of generating money. A properly formulated and executed wealth plan is the way you have to go.

Once you grow old, you must have sufficient funds to not only cater to your everyday needs but you may also require money to go out on trips, care for some others in the family and so on. Your planning must start early on in your career. While you don't have to stop having fun and spending on what you desire, savings plan for the future has to be given equal priority.

Other insurance plans like endowment policy help you not only insure your life and those of your loved ones, but you can also create wealth through the same. In an endowment plan, some part of the money is directed towards insuring you while the rest of the amount is invested into profit making schemes or the market where risks need to be expected. Endowment policies are based on fixed duration that is determined while you plan it. Your beneficiaries will receive death benefit in the event of your demise before the policy matures. Or, you receive the lump sum benefits once it matures. Unit linked endowment, low cost endowment, full endowment and more are some of the variations. You further need to get in touch with the company of your choice in order to understand all the benefits you can get from your endowment policy. Several companies offer you great customization offers.

Plan your endowment insurance while considering how it can fulfil your needs. Learn more about insurance plans online.

About the Author

I'm one of the skilled and experienced presenter, my talks focus on life insurance for insurance carriers, agents, customers and vendors that service the insurance industry.

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Author: Jessy Jose

Jessy Jose

Flag of India
India

Member since: Aug 01, 2016
Total live articles: 28

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