Investing a lump sum amount in a single go can be heavy on your pocket. To make the investment affordable for people, ULIPs offer an option of monthly investment with a minimum investment amount of Rs. 5000.
If your monthly income is not fixed then you can provide a standing instruction on your credit card and maintain your investment cycle without any problems.
Here is the transcription of the video in which Anuj Mathur, MD and CEO, Canara HSBC Oriental Bank of Commerce Life Insurance talks about monthly investment option in ULIPs.
Vivek Law –When you say that you can do the monthly option then it’s pretty much a SIP. Is there a certain minimum amount in 4G ULIPs that I have to invest every month or annually and then divided it by twelve or can I start with as low as thousand rupees or two thousand rupees per month?
Anuj Mathur – So, the minimum amount is five thousand rupees a month, so you have to do at least sixty thousand a year. One thing which is unique with Invest 4G is that one can actually give a debit instruction on credit card. If your monthly flows are such that you are not certain then you can actually go for the credit card option and the amount is as low as five thousand rupees per month.
Vivek Law – Do you see this investment amount coming down over the period of time?
Anuj Mathur – No, as of now we have kept it five thousand rupees because we feel five thousand rupees is very affordable for the kind of customers who are going to buy this.
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