People often invest keeping their future goals in mind, however aligning these goals with investments appears to be a big challenge. 4G ULIPs helps in creating a synergy amid the two as you can easily select the investment plan online depending upon your future requirements. Investing in 4G ULIPs allows you to create long term wealth for your family and their future.
Here is a transcription of the video in which, Anuj Mathur, MD and CEO, Canara HSBC Oriental Bank of Commerce Life Insurance, he divulges how to select a need-specific plan.
Vivek Law – One of the things that really drive us to invest is when we have a child. So, in the past, you have a lot of child plans which insurance companies used to offer with multiple features like step up, get your claims quickly, get them at a certain prescribe age and so on. In the new age ULIPs, is there some kind of a child-specific product that exist or is it generic and you just take it for yourself.
Anuj Mathur – Online ULIP is a platform which is available and a customer can decide the purpose. If a customer is going for let’s say children’s education or marriage a customer can exercise that option for how long he wants to buy, so the proposition can be bundled. Let’s say if I have a requirement of meeting my medical expenses after the age of seventy, I can go for a withdrawal option. Similarly, if there is a life goal which is there, so if it is a child’s marriage one can exercise this premium funding benefit which I had spoken about as an option available to customers. If something happens to the person then the future premiums are waived off, so in a way, it’s a child proposition if you really want to provide that protection. If you want to leave a legacy build wealth for children it’s a very ideal plan.
Vivek Law – From the perspective of whole life policy that you talked about is that something available for the entire duration of life, so I can remain covered until I die.
Anuj Mathur – Absolutely, that option is there, that’s it could be a fifty or sixty-year policy.
Vivek Law – If I am twenty years of age and I want to buy till the end of my life, can I keep on adding money into it.
Anuj Mathur – I think, when we say a whole life it means ending at particular age which I think is about ninety nine years and that’s good enough.
Follow us and stay updated with your insurance needs!