Frequently Asked Questions

What is ELSS?

ELSS stands for equity linked savings scheme. they give tax benefit and carry a lock-in period of three years

Just let me know investment in ULIP is the same like mutual funds, and ELSS.  Can I invest in ULIP instead of ELSS for which pan card is a must which I am not having right now.

ELSS and ULIPs are different. ELSS is a pure mutual fund wherein the amount invested by you gets invested in equity market through the fund.

In the case of ULIP, a portion of the premium goes towards policy charges as you are given life cover and the balance gets invested in mutual funds, chose by you. PAN card is not a necessity for investing in ULIP.

Of course both give tax benefit. However, the choice of investment should not be driven by issues like PAN card. Also, getting a PAN card is quite easy.

Recently i have invested in ULIP for an amount of 50,000/-  for the period of 3 years.I want to know how much i will get at the end of 3 years.

Returns from ULIPs depend on the equity market performance. Also, in the case of ULIPs, bulk of the premium goes towards administrative and fund management charges. More importantly, three year is a very short period to judge the performance of a fund.

                

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