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What is ULIP? Features, Benefits, Risks, and Types

Submitted by world on Wed, 12/06/2023 - 05:44

Insurance coverage and Wealth creation are important aspects of good financial management. Especially the recent global uncertainty has highlighted the importance of investment and insurance.

One policy that lets you do both is the ULIP. Firstly, what is the full form of ULIP? ULIP full form in insurance is Unit Linked Insurance Plan. Now, what is ULIP? ULIP investment is a comprehensive insurance product offering the benefit of insurance and investment. A part of your investment goes towards life insurance; the rest is in equities or bonds.

ULIPs have gained popularity because of their tax benefits and high returns. They also offer flexibility to the investor. You can choose between equities, bonds, or a combination of both. You can decide on the tenure and when you want to take out your money.

This article will help you understand what is ULIP insurance and the features of ULIP. It lets you make an informed financial decision.