ULIP is an excellent investment avenue to build a corpus for the future. But, not many people know how much to invest in ULIP. Using a ULIP calculator can help you in this regard. Read on to about other benefits of using ULIP calculator
A ULIP (Unit Linked Insurance Policy) calculator is a tool that is designed specially to help the insurance buyers calculate the premium amount and check the expected returns. Today, almost all the insurance companies and financial websites offer this tool to their customers. You can use this simple tool to calculate the returns of the various insurance plans offered by the insurance company.
You must enter details like the duration of the policy, the premium amount and the tool will calculate the returns for you. Additionally, some ULIP calculators allow you to compare the different ULIP plans based on the returns and will enable you to choose a policy that offers maximum returns.
Why use the ULIP calculator?
ULIP is one of the best financial products as it offers the dual benefit of both insurance protection and investment. It is an ideal investment option for people who are looking for a plan that is safe and offers decent returns. Today, almost all insurance companies in India offer several ULIPs. With the wide range of options available, it can be difficult for amateur investors to choose the right plan to suit their needs. Using the ULIP calculator can significantly help in this regard. The tool allows you to determine the exact amount you must invest to accomplish your financial goals.
Benefits of using ULIP Calculator
The ULIP calculators come with a variety of features to help the investors build a corpus and be financially prepared to deal with any eventuality. Let’s look at the benefits of using this tool.
One of the highlights of the ULIP calculator is that it allows you to get the comprehensive details of the fund you wish to invest. You can calculate the exact returns you can expect from the chosen plan.
Another significant benefit of using ULIP calculator is that it gives you the flexibility to change the variables of the investment. You can change the amount and the duration of the policy so that you know exactly how much you must invest in getting the expected returns and meeting your long-term and short-term goals.
- Easy to Use
Unlike other financial products in the market, ULIP calculators are easy to use. Anyone with zero technical knowledge can use this tool. More importantly, it is free to use. You simply have to enter the details required, and the tool will do the calculations automatically and give you the output within a few seconds.
- Helps take an informed decision
The ULIP calculator simplifies the complex calculations for you and helps you know the expected returns from different ULIP plan. Thus, you can compare the different plans and make an informed investment decision.
- Goal-based planning
Another significant benefit of using ULIP calculator is that it allows you to analyse the different fund options and help you choose the right fund to suit your goals. For instance, if your goal is to earn maximum returns in a short span, you can use the calculator to determine the amount you must invest to get the expected returns with the specific duration.
Thus, in a nutshell, the ULIP calculator is a great boon for all investors and no matter if you are an amateur or an expert investor using this tool will help you in more than one ways.