About Unit Linked Plans?
I have taken a Unit linkked plan from max different york life next to a annual premium of Rs.24000/ for me and my husband. And the fund we have opt for is a growth fund. Suggest me if it is safe.
Answers:
Growth fund is a risky one. No doubt the projection is the matchless among Equity and Managed.
From my past watch Managed fund able to out accomplish equity and growth in the long run.
Get more details on the growth fund portfolio, look at the company that they invested contained by the prospectus, these companies will give you the inside on whether the risk is worth taking or not. usually growth fund is investing surrounded by smaller new start up companies. their bet is this smaller companies will be paid money but the risk is higher.
The superior the risk the greater the return, but there is a breakeven point. If the growth fund projection is 15% per annum but the risk that you inevitability to take is 30%, than here is no point taking that type of risk.
Read the policy carefully, the return is not guaranteed and the first 3 years you are losing so much as the fund is not allocated surrounded by full like section trust or mutual fund.
Remember : Investment is Investment ; Insurance is Insurance ; never mix the 2.
Insurance is good for force abiding and protection and never designed to give suitable return.
if you are looking for force saving + protection , you bought a perfect plan.
the deduction is for commission , cost of insurance and government fees.
A total of 70-80% in the first 3 years is adjectives
safe & immobilize
yes it is out of danger
max allocation on equities are :- 20-70% in Growth fund; 10-40% surrounded by Balanced fund; 0-15% in Conservative fund; NIL contained by Secure fund
fund management charges :- 1.25% for Growth fund; 1.10% for Balanced fund; 0.90% for Conservative and Secure fund
expenses after intitial year :- 3% third year onwards
45 rs fixed monthly expenses
3% charges on top ups
2 free switches surrounded by a year. Rs 500 per switch thereafter.
yes...this is very pious plan and it is safe too.