It’s that time of the year again when most of us review their financial needs and goals when it comes to investing. Once, you are sure about your financial goals, then by choosing the right product gets easier. Currently, Unit linked insurance plans (ULIPs) have been zooming up on the popularity charts with insurance seekers.

For a layman seeking insurance, a unit-linked insurance plan (ULIP) is probably not the easiest product to understand. It is with this in mind that the Tata AIG Life Insurance has introduced some of these Plans, much simpler to grasp for an ordinary person. If you are seeking a unit- linked insurance plan (ULIP), Tata AIG have a few good plans.

All that one needs to do is choose the premium that one can pay annually (Rs 20,000-50,000), the term (between 10 and 15 years) and the funds to avail of the dual benefits of insurance coverage and wealth creation.

“These plans are extremely transparent, easy to comprehend, offer a higher premium allocation and guaranteed maturity bonus. ULIPs offer the customer five fund options, depending upon his risk-taking appetite. These range from a low-risk bond fund to a Top-50 fund that invests predominantly in equities.

 “Don’t invest just to save Tax. Plan your tax-saving investments in a manner that they fit in well with your long-term financial goals” The introduction of section 80C is bringing about a sea change in the method of conducting tax-planning exercise. It lists a wide range of avenues and investment options that are eligible for deduction from gross total income.