Life Insurance Ulip
CONTENTS
Sr.No. Particulars Page No.
1. Introduction 1.
2. Types Of Insurance 2.
3. LIC 4.
4. ULIP 5.
5. Buying ULIP--- An Important Note 20.
6. Types Of ULIP Plans 21.
7. How It Differ From Mutual Funds 23.
8. Systematic Planning Of ULIP 24.
9. 5 Points To Selecting A ULIP 30.
10. Case Study 34.
11. Is Investment In ULIP A Risky Option 40.
12. Important News 43.
13.
Six Points To Note After Selecting A ULIPs 44.
14.
Prominent Companies In ULIP 48.
15.
Future Of ULIP 49.
16.
Bibliography 50.
Introduction to Insurance
What is insurance – The business of insurance is related to the economic value of the assets. Every asset has a value. The asset would have been created through the efforts of the owner. Every asset is expected to last for a certain period of time during which it will perform. After that benefit will not be available.
None of them will last forever. The owner of is aware of this and so he can manage the affairs and ensure by the end, the substitute is available. Thus he makes sure value or income is not lost. However the asset may get lost earlier. An accident or some unfortunate event may destroy it or make it non-functional. In that case the owner and those deriving benefits there from, would be deprived from the benefit and the planned substitute would not have been ready. This is an adverse or an unpleasant situation. Insurance is a mechanism to reduce such situation.
Brief History of Insurance The business of insurance started with marine business. Traders used to gather at Lloyd` s coffee house in London agreed to share their losses to goods while being carried by ships. The losses used to occur by pirates who robbed on the high seas or because of spoiling the goods or sinking the ship. The first insurance policy was introduced in 1583 in England. In India the, insurance begin in 1870 with life insurance being transacted by English company, The European and the Albert. The
Sr.No. Particulars Page No.
1. Introduction 1.
2. Types Of Insurance 2.
3. LIC 4.
4. ULIP 5.
5. Buying ULIP--- An Important Note 20.
6. Types Of ULIP Plans 21.
7. How It Differ From Mutual Funds 23.
8. Systematic Planning Of ULIP 24.
9. 5 Points To Selecting A ULIP 30.
10. Case Study 34.
11. Is Investment In ULIP A Risky Option 40.
12. Important News 43.
13.
Six Points To Note After Selecting A ULIPs 44.
14.
Prominent Companies In ULIP 48.
15.
Future Of ULIP 49.
16.
Bibliography 50.
Introduction to Insurance
What is insurance – The business of insurance is related to the economic value of the assets. Every asset has a value. The asset would have been created through the efforts of the owner. Every asset is expected to last for a certain period of time during which it will perform. After that benefit will not be available.
None of them will last forever. The owner of is aware of this and so he can manage the affairs and ensure by the end, the substitute is available. Thus he makes sure value or income is not lost. However the asset may get lost earlier. An accident or some unfortunate event may destroy it or make it non-functional. In that case the owner and those deriving benefits there from, would be deprived from the benefit and the planned substitute would not have been ready. This is an adverse or an unpleasant situation. Insurance is a mechanism to reduce such situation.
Brief History of Insurance The business of insurance started with marine business. Traders used to gather at Lloyd` s coffee house in London agreed to share their losses to goods while being carried by ships. The losses used to occur by pirates who robbed on the high seas or because of spoiling the goods or sinking the ship. The first insurance policy was introduced in 1583 in England. In India the, insurance begin in 1870 with life insurance being transacted by English company, The European and the Albert. The
Bibliography: Worldwide Web Sites • www.moneycontrol.com • www.irda.org • www.personalfn.com Newspapers • Economic Times • Times Of India