Investing is always considered a good deal in an unpredictable life, but it often happens that one gets confused where to exactly invest. It takes years to earn and you certainly don't want to waste them up in bad investments. After all investment is all about securing the future and doubling your money and definitely you can't afford to fool around.
You might have heard about several investment plans, whether long term investment plans or short-term investment plans, life insurance plan or ULIP plans. So many options in the market just make it hard for you to select which one to buy. Therefore, in order to buy the best investment plan in India, you need to keep in mind the following steps-
1) Analyze Your Requirements- The first thing you need to do is to analyze your requirements. Do you want to invest for long-term or short-term? Do you want ‘guarantee returns' or you are okay with taking risk? So, if you are confused, ask these questions and buy plan accordingly. For example- Long-term plan can be life insurance and short-term plan can be term insurance.
2) Types of plan- Investment plan can be of three types-a) Life insurance that provide you security and covers your future and you get a return as mentioned in plan like child insurance, retirement plan, etc. b) Unit Linked Insurance Plan in which your money is invested in the stock exchange and you get benefit according to the profit of your investment. c) Endowment Plans- This plan has a low rate of return but is safe. So, if you are young or rich you can go for ULIP plans, middle aged man can go for life insurance and poor and old should stick to endowment plans.
3) Flexibility of Plan- The best investment plan offers you flexibility. In short you can dissolve your investment if the circumstance demands. Hence, bring an end to your confusion by buying investment plan that is more flexible.
4) Liquidity of Plan- You should also check what features are of different investment plans in India. Some plans let you withdraw some part of the money invested while another might not. So, you should keep this point in mind when you think to invest. If you can't afford to take risk go for savings plans that let you withdraw some money while ULIP plans are a bit rigid.
5) Transparency- The best investment plans are always transparent whether their characteristics, benefits or charges. You should always select the plan that is transparent in its working. So, if you are still perplexed, then simply go for plans that are more transparent to your eyes so you don't become fool later on.
6) Company's Reputation- Whenever you invest, wherever you invest, always makes sure that you choose a company that is reputed else your hard earned money is bound to get wasted. So, check all the past records or see how much profit the company is making.
7) Return amount- Different investment has a different return amount as well. Like endowment plans have a low return amount, but you will get the return money for sure whereas ULIP plans are a bit risky as the return amount keeps fluctuating on the basis of the investment profit or loss. So, consider this point too, according to your needs
8) Consult the Professional- It is always good to take the opinion of the expert. So, if you are baffled, you should ask the person who has knowledge about investment and who can be better than a professional himself.
To get thebest investment plans in India, you can also go online and check reviews and compare different plans on the basis of amount, its features. You can chat online with the expert and clear your doubt. So compare your plans in policy.com and keep investing for good.
You might have heard about several investment plans, whether long term investment plans or short-term investment plans, life insurance plan or ULIP plans. So many options in the market just make it hard for you to select which one to buy. Therefore, in order to buy the best investment plan in India, you need to keep in mind the following steps-
1) Analyze Your Requirements- The first thing you need to do is to analyze your requirements. Do you want to invest for long-term or short-term? Do you want ‘guarantee returns' or you are okay with taking risk? So, if you are confused, ask these questions and buy plan accordingly. For example- Long-term plan can be life insurance and short-term plan can be term insurance.
2) Types of plan- Investment plan can be of three types-a) Life insurance that provide you security and covers your future and you get a return as mentioned in plan like child insurance, retirement plan, etc. b) Unit Linked Insurance Plan in which your money is invested in the stock exchange and you get benefit according to the profit of your investment. c) Endowment Plans- This plan has a low rate of return but is safe. So, if you are young or rich you can go for ULIP plans, middle aged man can go for life insurance and poor and old should stick to endowment plans.
3) Flexibility of Plan- The best investment plan offers you flexibility. In short you can dissolve your investment if the circumstance demands. Hence, bring an end to your confusion by buying investment plan that is more flexible.
4) Liquidity of Plan- You should also check what features are of different investment plans in India. Some plans let you withdraw some part of the money invested while another might not. So, you should keep this point in mind when you think to invest. If you can't afford to take risk go for savings plans that let you withdraw some money while ULIP plans are a bit rigid.
5) Transparency- The best investment plans are always transparent whether their characteristics, benefits or charges. You should always select the plan that is transparent in its working. So, if you are still perplexed, then simply go for plans that are more transparent to your eyes so you don't become fool later on.
6) Company's Reputation- Whenever you invest, wherever you invest, always makes sure that you choose a company that is reputed else your hard earned money is bound to get wasted. So, check all the past records or see how much profit the company is making.
7) Return amount- Different investment has a different return amount as well. Like endowment plans have a low return amount, but you will get the return money for sure whereas ULIP plans are a bit risky as the return amount keeps fluctuating on the basis of the investment profit or loss. So, consider this point too, according to your needs
8) Consult the Professional- It is always good to take the opinion of the expert. So, if you are baffled, you should ask the person who has knowledge about investment and who can be better than a professional himself.
To get thebest investment plans in India, you can also go online and check reviews and compare different plans on the basis of amount, its features. You can chat online with the expert and clear your doubt. So compare your plans in policy.com and keep investing for good.
