When you choose any investment, one of the first things you need to do is to understand the risk and return potential. You will have to match that with your current financial situation and future goals in order to choose an investment amount. Now, doing this assessment becomes a lot easier when you have an investment calculator to help you. Here’s more on that!
Why do you need a ULIP calculator?
As you might already know, ULIPs let you have the twin benefits of investment and insurance. This is also the fact that makes it a good idea to invest in Kotak e-Invest Plan. You will be able to get a good return on your investment and save up for your long-term financial goals. Now, in order to truly prepare yourself for a better financial future, you need to have a clear idea about how much to save to get a certain return. This is where the ULIP calculator comes into the picture.
With the ULIP calculator, you can get a fair idea of how much you need to save on a monthly or yearly basis to get the desired returns. After all, the last thing you would want is to fall short of funds in the way of fulfilling yours and your family’s dreams.
How to use a ULIP returns calculator: A step-by-step guide
Given below are the basic steps to follow in order to use a ULIP returns calculator. Here you go!
Step #1
When you invest in Kotak e-Invest Plan, go to the website and find the calculator. It is a free calculator. So, there is no need to open an account, register online, or even pay to use the calculator.
Step #2
The first thing you need to do is to input the amount that you plan to invest either monthly or yearly. Choose an amount that you can comfortably spend each month on your investments. You would not want to fall short on funds simply because you decide to invest beyond your budget.
Step #3
Now, you need to select the policy tenure and how much of your premium you want to spend on investments. In terms of tenure, there is a lock-in period of five years. While you can withdraw the money after that, it is recommended that stay invested for a longer duration to earn better returns. So, choose your tenure wisely.
Step #4
Finally, you will have to select the funds you want to invest in. You can choose either equity funds or debt funds. Otherwise, you can keep a balanced combination of both. Keep in mind that the risk profile is different for both equity and debt funds, and so are the rewards. Thus, the funds you choose will impact the returns that show up on your screen thereafter.
Hopefully, you have a clear idea now about how to use the ULIP calculator. Now, try it for yourself and see the results. Keep modifying the investment amount and fund allocation to get a better idea of future returns.
Visit here to know more about Kotak Life ULIP Plan: https://www.kotaklife.com/online-plans/ulip-plan
