- Chellamuthu Kuppusamy
People have been wary about the market fluctuations and that has caused the NAV values of most of the unit linked plans shrinking in the last couple of years. Those making periodic systematic contributions were not affected with this scenario. In fact, they benefitted as market correction provided an opportunity to average their purchase and consolidate a long term portfolio without much effort. Market fluctuation is a friend for those who make periodic investments in market related products.
Nonetheless, the problem is for those who have not averaged out after having made one time investment at the peak. For people who are worried to see NAV value going down, companies have come out with plan that guarantees highest NAV value irrespective of the market condition at the time maturity.
Country’s most profitable and successful insurer LIC of India has introduced a new plan in this direction. It is called ‘Wealth Plus’, a unit linked product with highest NAV value reached when the plan is in force.
Payment option: 1) One time 2) equal payment for 3 years (yearly, half-yearly, quarterly or monthly)
LIC has said in a press release, “This plan will be available for sale for a limited period”
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