I have a ULIP policy in my wife’s name as she couldn’t get a term insurance (home maker). In the ICICI Pru Life I came across the automatic transfer plan, basically when we put in the yearly premium we can put in one of the debt funds (such as money market) and specify a monthly transfer to a equity fund (of course the debt and equity funds are limited to the ULIP plans).
I think this is better as it works like SIP, especially since my premium is yearly and the purchase of units is highly impacted based on whether market is on high or low on the day premium is allocated.
Is the ATP option seems a good idea? Please suggest.
Thanks
Vimal