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What Are New-Age ULIPs And Are They A Smarter Choice For Young Professionals?

New-age ULIPs come with reduced charges, greater transparency & tech-enabled features that give users full control.

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Young professionals in India are flipping the script on financial planning. We’re seeing a new generation of investors who are digital-first, focused on growth, and looking for solutions that combine both security and opportunity. They’re not just interested in insurance or investment; they want both. Amidst this, the rise of Unit-Linked Insurance Plans (ULIPs) has been a game-changer, merging these two tracks to offer a personalized solution tailor-made for today’s young professionals.

But how do new-age ULIPs stack up against traditional ones, and are they a smarter choice for today’s generation? Let’s break it down.

Traditional vs. New-Age

When it came to financial security, earlier generations often chose options that had less risk. The traditional ULIP, which combined life insurance with an investment component, worked well in its time, but it had its limitations. Traditional ULIPs were known for high charges and less transparency and lacked customization. This means that investors had very little flexibility to adapt their plans.

Today’s generation, on the other hand, wants more than just stability. For them, new-age ULIPs have turned out to be a game-changer. These plans come with reduced charges, greater transparency and tech-enabled features that put the user in full control of their investment journey.

So, what do these modern ULIPs really improve on compared to the old model?

Why New-Age ULIPs Make Sense for Young Professionals

To understand the real-life value of a new-age ULIP, let’s look at Rohini’s example. She’s a 29-year-old marketing executive who wants to save aggressively for the future, while also ensuring her family is financially protected. Unlike her parents, who relied on conservative, no-frills plans, Rohini wants a solution that balances growth potential with security. A new-age ULIP will allow her to spread her money across a mix of equity and debt funds. When the market fluctuates, she can adjust her fund choices online. This way, she not only has peace of mind knowing her family is covered, but can also enjoy the flexibility, control and security all in one smart plan.

Now, let’s dive into some specific benefits that new-age ULIPs offer to professionals like Rohini.

New-age ULIPs come with reduced charges, greater transparency & tech-enabled features that give users full control.

Among the new-age ULIPs, HDFC Life Click 2 Invest stands out as an innovative option that has been thoughtfully designed for the needs of today’s professionals. Here are some of its features:

  • 15 fund options to match your investment preferences.

  • Get fund value at maturity or in periodical installments based on your needs.

  • Make partial withdrawal from funds to meet financial emergencies if any.

  • Flexibility to save regularly, for a limited period of 5, 6, 7, 8, 9, and 10 years or pay once under Single Pay.

As a young professional, making smart financial decisions is the key. If you’re ready to take control of your financial future, it’s time to explore flexible investments options that can offer you both growth and security.

(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)

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