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1. Age at entry should start from 5 year. 2. Accidental Insurance can be increase upto 5 Lacs. 3. New Term for 20 years also required in Plan.
Ulip
Very good suggestion given by FM. we should work for safe & average return of 10.5 %.
a very neat product. wish team uti all the best in its efforts to popularize this product. request uti to look at increasing the term cover to 25 lakhs and then to 50 lakhs without linking to contribution. Which means a ulip holder contributing say 5k pm should also have the option to have 50 lakhs term cover. Right now, the cover is based on the total contribution during the plan period. Eg, 5k pm for 10 year plan would get 5X12X10=600000[6 lakhs] term cover. also pl look at offering health cover and PA cover to unit holders thro this product or a new product.
1. Increase Personal Accident Cover to Rs. 15 lacs. 2. Allow investors to pay from any bank account by cheque. UTI accepts renewal contributions only from the registered bank account whereas other AMCs accept additional investments from any bank account of the investor. 3. Mention bank details, instalment number in the renewal list provided to the distributors. 4. Allow to use EXPRESS SIP under NACH for ULIP scheme also to widen the scope of investors who maintain bank account with the banks not having activiated MICR/ECS facilities. 5. Give two portfolio options - Debt oriented and Equity oriented and switching within the option at certain invervals. Like CCP Balance and CCP Advantage.
UTI ULIP is a best Solution & very low cost product. But with debt Balance fund , if UTI gives option of equity balance to investor then its win-win Situation for investor also. ..
A very good window for IFA to sell Insurance through MF route. ULIP offers Multiple benefits like 80C, Life insurance, Tax efficiency, Low cost, everything in just one basket. ULIP is a time tested product.