30 is an age where your careers have a decent amount of experience, where your salaries and responsibilities fairly increase. It is that stage of your lives where thrills and experimentation reduce substantially.
You are mature and start thinking about long-term goals.
Wealth becomes more than a means to an end. It becomes a goal.
You have dependents and their future depends on you. Money, thus, is more than something that is used to meet expenses or have fun.
This is the right phase in life where you plan and consider investments more as a necessity.
When you are in your 30s you clearly understand all financial terms and benefits of an investment plan. You know your risk appetite and so the chances of you making an impulsive investment are rare. At the age of 30, you wouldn’t want to simply invest in equities and leave it to your luck. It is smarter for you to invest in ULIPs because you have the flexibility to switch between funds. You keep a track of how the market is performing and then take an informed decision as to where you should shift your investments i.e. in debt fund, equity or a balanced fund. ULIP will also provide you with tax benefits wherein you get tax exemption on both premiums paid and returns. At this stage where you are earning a decent amount of income, you would definitely want to save on income taxes. ULIP will help you increase your take-home salary.
While you are shortlisting various ULIPs, choose a ULIP that will build a systematic investment approach and provide you regular additional allocations so that you get maximum returns. Now is the right to invest for your long-term financial goals. Check out how you can grow your wealth here.