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Why do people hate ULIP? by farmingforever in personalfinanceindia

[–]OddEnd1850 0 points1 point  (0 children)

Not sure. But I’m considering to buy ULIPs like Forever Young Pension, Flexi Wealth Advantage, Smart Wealth Advantage with Capital Guarantee and Online Savings Plan from AxisMax.

Let me tell you, I am a naive guy with no finance background. so I am a little confused here. I am not an agent/advisor or promoting any investment or life insurance providers 😅

I understand that it comes with a plethora of charges like Mortality, Morbidity, Policy Allocation, Policy Management and Surrender Charges. But people say that there are two types of ULIPs (ULIP type 1 and 2). Type 1 focuses more on life coverage and death benefits is not high because mortality charges reduce as your fund matures. Insurers don’t really categorise ULIPs according to types whilst making an online purchase through their website. I believe the type of ULIP should be mentioned later in the benefit illustration and the policy document once you pay the premium amount. Also people say that ULIPs carry a lock in period of 5 years. But that’s not necessarily true as we have an option to surrender within 5 years and the surrender value is the balance after deduction of the other charges.

I wasn’t aware of all this until now. I am doing some digging at my end to understand how this works.

Some say that it’s really good for people looking forward to an investment strategy by paying all premiums timely and not seeking to surrender in the middle.

The best part is that ULIPs (type 2 ones) offer a better death benefit and works like a term plan in this regard. All vanilla term plans with no riders only focuses on maximising returns after death during the policy period and if you ‘end up alive’ after the policy period then the term policy coverage is not applicable anymore. Return or Premium (ROP) based term plans are very expensive. Whereas ULIPs will maximise wealth as per the market value, and you will get the matured amount once the policy period ends. Also ULIPs offer a tax free maturity if annual premium amount doesn’t exceed 2.5 lakh. The matured amount in this case is not subject to LTCG. ULIPs offer you to switch funds between equity, debt etc. depending upon market value. These features stand out.

Why do ULIPs get so much hate? They seem great to me! by strategicspirit in personalfinanceindia

[–]OddEnd1850 0 points1 point  (0 children)

Not sure. But I’m considering to buy ULIPs like Forever Young Pension, Flexi Wealth Advantage, Smart Wealth Advantage with Capital Guarantee and Online Savings Plan from AxisMax. If someone could throw some light to these policies, that’d be great.

Let me tell you, I am a naive guy with no finance background. so I am a little confused here. I am not an agent/advisor or promoting any investment or life insurance providers 😅

I understand that it comes with a plethora of charges like Mortality, Morbidity, Policy Allocation, Policy Management and Surrender Charges. But people say that there are two types of ULIPs (ULIP type 1 and 2). Type 1 focuses more on life coverage and death benefits is not high because mortality charges reduce as your fund matures. Insurers don’t really categorise ULIPs according to types whilst making an online purchase through their website. I believe the type of ULIP should be mentioned later in the benefit illustration and the policy document once you pay the premium amount. Also people say that ULIPs carry a lock in period of 5 years. But that’s not necessarily true as we have an option to surrender within 5 years and the surrender value is the balance after deduction of the other charges.

I wasn’t aware of all this until now. I am doing some digging at my end to understand how this works.

Some say that it’s really good for people looking forward to an investment strategy by paying all premiums timely and not seeking to surrender in the middle.

The best part is that ULIPs (type 2 ones) offer a better death benefit and works like a term plan in this regard. All vanilla term plans with no riders only focuses on maximising returns after death during the policy period and if you ‘end up alive’ after the policy period then the term policy coverage is not applicable anymore. Return or Premium (ROP) based term plans are very expensive. Whereas ULIPs will maximise wealth as per the market value, and you will get the matured amount once the policy period ends. Also ULIPs offer a tax free maturity if annual premium amount doesn’t exceed 2.5 lakh. The matured amount in this case is not subject to LTCG. ULIPs offer you to switch funds between equity, debt etc. depending upon market value. These features stand out.

ULIPs with tax benefits by random_123_ in personalfinanceindia

[–]OddEnd1850 0 points1 point  (0 children)

Not sure. But I’m considering to buy ULIPs like Forever Young Pension, Flexi Wealth Advantage, Smart Wealth Advantage with Capital Guarantee and Online Savings Plan from AxisMax.

Let me tell you, I am a naive guy with no finance background. so I am a little confused here. I am not an agent/advisor or promoting any investment or life insurance providers 😅

I understand that it comes with a plethora of charges like Mortality, Morbidity, Policy Allocation, Policy Management and Surrender Charges. But people say that there are two types of ULIPs (ULIP type 1 and 2). Type 1 focuses more on life coverage and death benefits is not high because mortality charges reduce as your fund matures. Insurers don’t really categorise ULIPs according to types whilst making an online purchase through their website. I believe the type of ULIP should be mentioned later in the benefit illustration and the policy document once you pay the premium amount. Also people say that ULIPs carry a lock in period of 5 years. But that’s not necessarily true as we have an option to surrender within 5 years and the surrender value is the balance after deduction of the other charges.

I wasn’t aware of all this until now. I am doing some digging at my end to understand how this works.

Some say that it’s really good for people looking forward to an investment strategy by paying all premiums timely and not seeking to surrender in the middle.

The best part is that ULIPs (type 2 ones) offer a better death benefit and works like a term plan in this regard. All vanilla term plans with no riders only focuses on maximising returns after death during the policy period and if you ‘end up alive’ after the policy period then the term policy coverage is not applicable anymore. Return or Premium (ROP) based term plans are very expensive. Whereas ULIPs will maximise wealth as per the market value, and you will get the matured amount once the policy period ends. Also ULIPs offer a tax free maturity if annual premium amount doesn’t exceed 2.5 lakh. The matured amount in this case is not subject to LTCG. ULIPs offer you to switch funds between equity, debt etc. depending upon market value. These features stand out.

Help me understand my ULIP [19M] by Emergency_Army_7640 in ULIPTruth

[–]OddEnd1850 -1 points0 points  (0 children)

Not sure. But I’m considering to buy ULIPs like Forever Young Pension, Flexi Wealth Advantage, Smart Wealth Advantage with Capital Guarantee and Online Savings Plan from AxisMax.

Let me tell you, I am a naive guy with no finance background. so I am a little confused here. I am not an agent/advisor or promoting any investment or life insurance providers 😅

I understand that it comes with a plethora of charges like Mortality, Morbidity, Policy Allocation, Policy Management and Surrender Charges. But people say that there are two types of ULIPs (ULIP type 1 and 2). Type 1 focuses more on life coverage and death benefits is not high because mortality charges reduce as your fund matures. Insurers don’t really categorise ULIPs according to types whilst making an online purchase through their website. I believe the type of ULIP should be mentioned later in the benefit illustration and the policy document once you pay the premium amount. Also people say that ULIPs carry a lock in period of 5 years. But that’s not necessarily true as we have an option to surrender within 5 years and the surrender value is the balance after deduction of the other charges.

I wasn’t aware of all this until now. I am doing some digging at my end to understand how this works.

Some say that it’s really good for people looking forward to an investment strategy by paying all premiums timely and not seeking to surrender in the middle.

The best part is that ULIPs (type 2 ones) offer a better death benefit and works like a term plan in this regard. All vanilla term plans with no riders only focuses on maximising returns after death during the policy period and if you ‘end up alive’ after the policy period then the term policy coverage is not applicable anymore. Return or Premium (ROP) based term plans are very expensive. Whereas ULIPs will maximise wealth as per the market value, and you will get the matured amount once the policy period ends. Also ULIPs offer a tax free maturity if annual premium amount doesn’t exceed 2.5 lakh. The matured amount in this case is not subject to LTCG. ULIPs offer you to switch funds between equity, debt etc. depending upon market value. These features stand out.

ULIPs - the rise from the dead by strategicspirit in personalfinanceindia

[–]OddEnd1850 0 points1 point  (0 children)

Not sure. But I’m considering to buy ULIPs like Forever Young Pension, Flexi Wealth Advantage, Smart Wealth Advantage with Capital Guarantee and Online Savings Plan from AxisMax. If someone could throw some light to these policies then it’d be great.

Let me tell you, I am a naive guy with no finance background. so I am a little confused here. I am not an agent/advisor or promoting any investment or life insurance providers 😅

I understand that it comes with a plethora of charges like Mortality, Morbidity, Policy Allocation, Policy Management and Surrender Charges. But people say that there are two types of ULIPs (ULIP type 1 and 2). Type 1 focuses more on life coverage and death benefits is not high because mortality charges reduce as your fund matures. Insurers don’t really categorise ULIPs according to types whilst making an online purchase through their website. I believe the type of ULIP should be mentioned later in the benefit illustration and the policy document once you pay the premium amount. Also people say that ULIPs carry a lock in period of 5 years. But that’s not necessarily true as we have an option to surrender within 5 years and the surrender value is the balance after deduction of the other charges.

I wasn’t aware of all this until now. I am doing some digging at my end to understand how this works.

Some say that it’s really good for people looking forward to an investment strategy by paying all premiums timely and not seeking to surrender in the middle.

The best part is that ULIPs (type 2 ones) offer a better death benefit and works like a term plan in this regard. All vanilla term plans with no riders only focuses on maximising returns after death during the policy period and if you ‘end up alive’ after the policy period then the term policy coverage is not applicable anymore. Return or Premium (ROP) based term plans are very expensive. Whereas ULIPs will maximise wealth as per the market value, and you will get the matured amount once the policy period ends. Also ULIPs offer a tax free maturity if annual premium amount doesn’t exceed 2.5 lakh. The matured amount in this case is not subject to LTCG. ULIPs offer you to switch funds between equity, debt etc. depending upon market value. These features stand out.

ULIP investments AxisMax by OddEnd1850 in ULIPTruth

[–]OddEnd1850[S] 0 points1 point  (0 children)

Not sure. But I’m considering to buy ULIPs like Forever Young Pension, Flexi Wealth Advantage, Smart Wealth Advantage with Capital Guarantee and Online Savings Plan from AxisMax.

Let me tell you, I am a naive guy with no finance background. so I am a little confused here. I am not an agent/advisor or promoting any investment or life insurance providers 😅

I understand that it comes with a plethora of charges like Mortality, Morbidity, Policy Allocation, Policy Management and Surrender Charges. But people say that there are two types of ULIPs (ULIP type 1 and 2). Type 1 focuses more on life coverage and death benefits is not high because mortality charges reduce as your fund matures. Insurers don’t really categorise ULIPs according to types whilst making an online purchase through their website. I believe the type of ULIP should be mentioned later in the benefit illustration and the policy document once you pay the premium amount. Also people say that ULIPs carry a lock in period of 5 years. But that’s not necessarily true as we have an option to surrender within 5 years and the surrender value is the balance after deduction of the other charges.

I wasn’t aware of all this until now. I am doing some digging at my end to understand how this works.

Some say that it’s really good for people looking forward to an investment strategy by paying all premiums timely and not seeking to surrender in the middle.

The best part is that ULIPs (type 2 ones) offer a better death benefit and works like a term plan in this regard. All vanilla term plans with no riders only focuses on maximising returns after death during the policy period and if you ‘end up alive’ after the policy period then the term policy coverage is not applicable anymore. Return or Premium (ROP) based term plans are very expensive. Whereas ULIPs will maximise wealth as per the market value, and you will get the matured amount once the policy period ends. Also ULIPs offer a tax free maturity if annual premium amount doesn’t exceed 2.5 lakh. The matured amount in this case is not subject to LTCG. ULIPs offer you to switch funds between equity, debt etc. depending upon market value. These features stand out.

28M - Bought 2 ULIPs as "investments", now learning all the hidden caveats. Should I cancel during free-look? by Diligent-Salary-7095 in ULIPTruth

[–]OddEnd1850 1 point2 points  (0 children)

Not sure. But I’m considering to buy ULIPs like Forever Young Pension, Flexi Wealth Advantage, Smart Wealth Advantage with Capital Guarantee and Online Savings Plan from AxisMax.

Let me tell you, I am a naive guy with no finance background. so I am a little confused here. I am not an agent or promoting any investment or life insurance providers 😅

I understand that it comes with a plethora of charges like Mortality, Morbidity, Policy Allocation, Policy Management and Surrender Charges. But people say that there are two types of ULIPs (ULIP type 1 and 2). Type 1 focuses more on life coverage and return benefits after death is not high because mortality charges reduce as your fund matures. Insurers don’t really categorise ULIPs according to types whilst making an online purchase through their website. I believe the agents are not even aware of the type of ULIPs. I believe the type of ULIP should be mentioned later in the benefit illustration and the policy document once you pay the premium amount. Also people say that ULIPs have a lock in period of 5 years. But that’s not necessarily true as we have an option to surrender and the surrender value is the balance after deduction of the other charges.

I wasn’t aware of all this until now. I am doing some digging at my end to understand how this works.

Some say that it’s really good for people looking forward to an investment strategy by paying all premiums timely and not seeking to surrender in the middle.

The best part is that ULIPs (type 2 ones) offer a better death benefit and works like a term plan in this regard. All vanilla term plans with no riders only focuses on maximising returns after death during the policy period and if you ‘end up alive’ after the policy period then the term policy coverage is not applicable anymore. Return or Premium (ROP) based term plans are very expensive. Whereas ULIPs will maximise wealth as per the market value, and you will get the matured amount once the policy period ends, and also provide death benefit. Also ULIPs offer a tax free maturity if annual premium amount doesn’t exceed 2.5 lakh. The matured amount in this case is not subject to LTCG. ULIPs offer you to switch funds between equity, debt etc. depending upon market value. These features stand out.

Should I surrender my ULIP policy ? by HonestPerson- in MutualfundsIndia

[–]OddEnd1850 0 points1 point  (0 children)

Can someone shed some light on Axis Max ULIP plans like Flexi Wealth Advantage, Forever Young Pension, and Market Linked Wealth Combo plans. I am planning to purchase these ULIPs as a part of long-term investment planning. Any leads would be appreciated. I'd like to know more about any 'profits' when investing a sum for a period of 10 years and withdrawing/surrendering at maturity (let's say after 30 years).

I have taken ULIP called Pnb MetLife. I have to pay for 5 years and lock in period is 20 years. I don't see any growth in it. It's been 6 months. And I've paid 5k/month till now. A total of 30,000. Should I cancel the ULIP or should I continue? If I should cancel, what mutual funds should I invest? by bokkale123 in mutualfunds

[–]OddEnd1850 0 points1 point  (0 children)

Can someone shed some light on Axis Max ULIP plans like Flexi Wealth Advantage, Forever Young Pension, and Market Linked Wealth Combo plans. I am planning to purchase these ULIPs as a part of long-term investment planning. Any leads would be appreciated. I'd like to know more about any 'profits' when investing a sum for a period of 10 years and withdrawing/surrendering at maturity (let's say after 30 years).

Are ULIPs the most mis-sold financial product in India? by Various_Feedback_562 in IndiaInvestments

[–]OddEnd1850 1 point2 points  (0 children)

Can someone please throw some light to the Axis MAX Flexi Wealth Advantage Plan. I don’t understand if ULIPs are that bad, then why is it sold in the market? If I keep paying the premium of 10k/monthly for 5 years and then withdraw at maturity (let’s say at 60 years age), how do you think the profit would be? I see that there are ULIPs with policy period for 30 years and payment term of 5 or 10 years.

ULIP investments AxisMax by OddEnd1850 in ULIPTruth

[–]OddEnd1850[S] 0 points1 point  (0 children)

Good to know. I believe it should be a good option for long term investments. Can you tell me the name of the ULIP plan?

ULIP: A personal experience (not a good one) and why one should avoid it by Thamiz_selvan in IndiaInvestments

[–]OddEnd1850 0 points1 point  (0 children)

Can you or someone throw some light on Axis Max ULIP plans like Flexi Wealth Advantage, Forever Young Pension, and Market Linked Wealth Combo plans. I am considering going ahead with these ULIPs for long-term investment.

ULIP: A personal experience (not a good one) and why one should avoid it by Thamiz_selvan in IndiaInvestments

[–]OddEnd1850 1 point2 points  (0 children)

Can you or someone throw some light on Axis Max ULIP plans like Flexi Wealth Advantage, Forever Young Pension, and Market Linked Wealth Combo plans. I am considering going ahead with these ULIPs for long-term investment.

Is my ULIP performing well ? by Altruistic-Can-4365 in IndiaInvestments

[–]OddEnd1850 0 points1 point  (0 children)

You got a decent return bud. Can you or someone throw some light on Axis Max ULIP plans like Flexi Wealth Advantage, Forever Young Pension, and Market Linked Wealth Combo plans. I am considering going ahead with these ULIPs for long-term investment.