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In this policy, the investment risk in investment portfolio is borne by the policyholder. Unit Linked Individual Life Insurance Savings Plan (UIN:110L112V04)/p>
Invest In Your Future: Grow Your Wealth with Our Top-Rated% Market Linked~ Funds
Get life insurance coverage to protect your family
21.95% Returns+ for Multi Cap Fund (Benchmark: 11.94%) +
Save Income Tax up to Rs 46,800++
You are one step away from achieving your dreams
You are one step away from achieving your dreams
We all make big plans for the future and for the happiness of our family. These plans can pertain to education, travel, hobbies, a business venture and much more. Being able to fulfil all your goals and dreams can give you a sense of accomplishment.
However, the lack of finances can be a major hurdle when it comes to meeting your needs. A shortage of funds can also be problematic during your retirement years when you need to have a stable source of income. To combat this problem, what you really need is a long-term wealth creation plan. Let us know more about wealth creation plans and how they can be utilised for your benefit.
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Table of Content
The market is replete with a number of financial products, such as Unit-Linked Insurance Plans, savings plans and other market-linked~ instruments that can help you build your wealth. When you opt for any of these products to create a financial plan and fulfil your monetary goals and needs, the process is known as wealth creation.
Wealth creation can and should start as early as possible or as soon as you earn enough money to start an investment or save money. It is also important to be consistent with your wealth creation plan as it helps you invest regularly and prepares you for any kind of future emergencies.
Wealth creation is necessary for anyone and everyone since traditional savings plans may not always be enough to fulfil major expenses. Additionally, when you have a strong wealth plan in place, it can also become your retirement fund and provide regular income for your and your family’s daily needs.
When you start earning and providing for your family, it is important that you have a long-term wealth creation plan. The future is always uncertain and can bring lots of surprises. However, these moments need to be financially backed up, which is not possible if you are on a monthly salary.
To ensure that you are able to accumulate your wealth and grow it, you should be able to put aside some funds each month into a suitable wealth creation plan that will help you meet your goals without any financial hurdles.
Below are some of the most important reasons that make wealth creation an important part of our life:
Future Goals
A lot of your plans and goals cannot be met immediately simply because gathering such an amount of funds at short notice is not possible. While taking a loan may seem feasible, note that depending solely on a loan may not be beneficial. Hence, major future goals such as your child’s education, your new business venture or a big family vacation need a solid wealth creation plan.
Adequate Funds
Even though you may have some emergency funds in place, they are meant to be used only for medical emergencies. Spending your emergency funds for your goals can leave you with little to no financial backup. A long-term wealth creation plan can be a great addition to your financial planning so that when it comes to meeting your goals, you do not have to reconsider your finances.
Sudden Unemployment
During and after the pandemic, it can be clearly seen how unemployment can become a major problem. Apart from that, an accidental disability or a critical illness can render you unemployed for an extended period of time. If you have a wealth creation plan in place, not only will your treatment and recovery be taken care of, but also your family can continue to sustain themselves.
Greater Liquidity
Many conventional savings methods come with extended lock-in periods, and when you urgently need the funds, liquidating the money can be a time-consuming process. Your wealth creation plan ensures that you are able to access the money whenever you need it and in the amount of your choice.
Financial Independence
A wealth creation plan for the future not only means fulfilling your goals and your family’s needs but also indicates financial freedom. With such a plan, you need not depend on anyone, especially when your main source of income is missing. A lot of expenses can be taken care of without having to depend on lenders and loans if you have a solid wealth creation plan in place.
IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER Unit Linked Individual Life Insurance Savings Plan (UIN:110L112V04)
TATA AIA
These are some of the ways in which you can build your wealth over the long term:
Set Your Goals
Start Saving Early
Plan For Emergencies
Find Suitable Investments
Plan For Your Retirement
Assess It Often
Clear Your Debts
Learn To Manage Wealth
Be Consistent
Factors to Consider While Choosing a Wealth Creation Plan
Map out your financial goals to get a clear understanding of how much you need to save to achieve them. You can save the money as per your preference. This will help you determine the type of wealth creation plan that is best suited for your needs.
Take your current expenses into account when choosing a wealth creation plan. This includes your monthly bills, loan payments, and other fixed expenses. This can also comprise any small expenses that may need to be met intermittently throughout the month.
Consider any planned expenses that you may have in the future, such as buying a house or starting a family. These expenses should be considered when choosing a long-term wealth creation plan that will help you achieve your financial goals.
If you have financial dependents, such as children or elderly parents, consider their financial needs when opting for a long-term wealth creation plan. Such a plan can take care of their aspirations in the event of your untimely demise or any other medical emergency.
Wealth creation solutions are quite flexible and are designed to meet the needs of investors with various risk appetites and investment goals. You can easily start a wealth creation solution once you know your goals, investment tenure, and your expectations. If you belong to any of the below categories of investors, you can start a wealth creation investment:
Investors With Long-Term Goals
Investors With Long-Term Goals
Investors With Short-Term Goals
Investors With Short-Term Goals
Those Planning for Retirement
Those Planning for Retirement
Those Creating an Emergency Fund
Those Creating an Emergency Fund
Advantage of Wealth Creation with Tata AIA Life Insurance
When you choose a wealth creation investment plan from Tata AIA Life Insurance, you can enjoy the flexibility of choosing from plans that are designed to meet your needs. This not only helps you meet all your wealth creation goals but also opens up new investment avenues for you where you can build your wealth through market-linked returns~. These are some of the advantages of choosing our Unit-Linked Insurance Plans:
You can choose a Unit-Linked Insurance Plan (ULIP) that allows you to choose a policy term as per your goals, while you can also choose to pay the premiums as a Single Pay or for a limited period. There are also a range of premium payment frequency options available to you so that you can invest as per your choice.
All the ULIPs come with a life insurance cover that enables you to provide an added layer of financial security for your family. Your family can be protected by the life cover throughout the policy term, and in case of your untimely demise, they can sustain their livelihood through the death benefit sum assured.
With a host of investment fund options to choose from, you can decide which funds will be the most suitable for your investment. And if you feel that some funds are not up to your expectations, you can switch from the current fund to another to meet your investment goals.
As a ULIP investor, you can enjoy the applicable tax# laws on the premiums as well as on the death and maturity proceeds of the plan. Avail of tax deductions on the premiums payable towards the plan under Section 80C of the Income Tax Act and tax exemptions on the maturity benefits under Section 10(10D).
Our ULIPs enable you to enjoy regular loyalty additions^^ to your investment if you are a consistent investor. This feature helps grow your investment corpus. Moreover, you can also choose a top-up facility to boost the corpus further.
Choose from a range of rider^ options for an additional premium to ensure protection against different emergencies such as critical illnesses, hospitalisation, injuries etc., or to waive off your future premium payments in the event of an accidental and permanent injury or disability.
How to Ensure You Grow and Save Enough Wealth to Meet your Future Goals?
Emergencies come unannounced, and this makes it essential for us to keep a solid wealth plan as a financial backup. However, it is not possible to say how much wealth is enough to fulfil your goals or to meet your emergencies. This is why, you should rely on some basic parameters to understand how much wealth creation is necessary for your needs:
If you are already aware of your current needs, start creating a plan for your future needs. Years from now, not only will your needs and that of your family members change, but the same will happen with the inflation rates. Keeping these factors in mind, choose a wealth plan that allows you to build a robust fund.
Instead of holding off your wealth creation investment plans for later, start investing in the early phases of your life, even if the investment is a small one. This helps make your investment more consistent, and you can opt to increase the investment later. Moreover, an early start means a longer investment horizon.
Your investment plan, such as a Unit-Linked Insurance Plan, can offer a suitable life cover option to protect your family and investments from uncertain events. Choose an insurance cover that enables your family to be comfortable, even though you may not be able to provide for them at some point in time.
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How does one create a wealth creation investment plan?
Starting a wealth creation plan begins with identifying your future needs and goals as well as your family’s needs. Also, be sure to understand how much you can afford to invest regularly over the years so that the investment does not burden you. After that, you can choose a flexible investment plan that is in line with your wealth creation goals and expectations.
Does life insurance offer wealth creation solutions?
Yes, under life insurance plans, you can choose Unit-Linked Insurance Plans, which are market-linked~ investment plans with a life insurance cover. Depending on your goals and your risk appetite, you can choose a ULIP to benefit from market-linked returns~ on your investment.
Can I also opt for a life insurance cover along with my wealth plan?
If your wealth creation plan does not have a life insurance component, then you should have a separate life cover to protect yourself, your family, and your investments. However, all Tata AIA Life Insurance Unit-Linked Insurance Plans come with a protective life insurance cover.
Can I invest in a long-term wealth creation plan?
Yes, you can choose to invest in a long-term wealth creation plan if you want to meet your long-term investment goals. With a long-term wealth plan, you can ensure a regular and consistent habit of investing and steadily build a financial corpus over the years that can help fulfil your future goals.
Why is it important to create wealth over the long term?
Building wealth over the long term helps you save and invest a regular amount of money over several years. You can choose to invest an affordable sum that does not put pressure on your other expenses.
Do wealth creation plans offer liquidity?
Yes, you can opt for Unit-Linked Insurance Plans, which have an initial lock-in period. However, after the lock-in phase, you can choose to make partial withdrawals to fulfil your financial obligations.
What is the right age to start wealth planning?
Though wealth plans offer the flexibility of investments at any age, it is advisable to start wealth planning in the early phases of your life. This way, you can initially start with a small investment and then grow the investment over the years without having to wait until later. Delaying your wealth planning may affect your investment, and your goals as your risk appetite could change over the years.
Does Tata AIA Life Insurance offer wealth creation solutions?
Yes, Tata AIA Life Insurance offers wealth creation solutions in the form of Unit-Linked Insurance Plans. These plans not only allow you to choose from flexible policy terms and premium payment options but also offer you a range of investment funds for your benefit. Additionally, you can also add optional riders^ to your Tata AIA Life Insurance ULIP to enhance the policy coverage.
Can I opt for wealth creation solutions if I am a low-risk investor?
Yes, it is possible for low-risk investors to also opt for wealth creation solutions such as ULIPs. However, it is advisable to understand that as a low-risk investor, one should opt for an investment amount and funds as per their risk profile while also carefully tracking the funds from time to time. In addition, a long-term wealth creation plan can also be optimal for low-risk investors who want to invest a small amount of money over many years.
What goals can I fulfil with a long-term wealth plan?
Every individual has their own set of personal, professional, and investment goals to be fulfilled. When you have a long-term wealth plan, you can list out all the goals you would like to fulfil over the years. At some point, your wealth creation plan will enable you to liquidate some amount of money to meet these needs. Be it your child’s further education, setting up a trust fund for charity, going on a wonderful vacation with your loved ones or starting your own business, there are a number of goals that a long-term wealth plan can help you achieve.
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