dentify your financial needsClarity about your immediate and future financial goals is crucial for determining the apt investment plan. You can make a list of objectives like children’s education, retirements planning etc. After that, chalk out specific time frames for meeting such goals. Match the projected returns of your investment plan with your target funds to decide on the plan to buy. Also, choose the policy tenure accordingly.Select the premium payment terms wiselyOpt for single premium or regular payment options in keeping with your resources. Consider limited payment terms if your income fluctuates, preventing long-term commitments. Recognize your risk appetiteWhen you are young and have lesser financial liabilities, you can opt for aggressive ULIP funds. Such asset types present higher risks but lucrative return potentials. Investors of middle or advanced age with more significant monetary obligations can pick safer options like traditional endowment plans. You can also select ULIPs with age-based portfolio strategies to maximize returns.Consider liquidityChoose plans that offer partial withdrawal options, yearly incomes, regular money-back opportunities, or options to avail of loans to access funds in emergencies.Pay attention to the fine printUnderstand all the exclusions, clauses and conditions to be confident about the suitability of the plan.Weigh in tax-savingsChoose plans that not only help you save tax but also generate tax-exempt income as well.Diversify your portfolioSpread out your funds across different investment plans to evade excessive losses in a particular instrument.