Paragraph match score 80.6%
Page A-508
Glossary
Non-Traditional Life Insurance: Insurance plans that combine life cover with investment-linked or variable returns ULIP: A life insurance product that invests part of the premium in market-linked funds
Page A-298
Types of Life Insurance Policies
Unit Linked Insurance Plans (ULIPs): ULIPs combine life insurance with investment. A portion of the premium goes toward life cover, while the rest is invested in market-linked funds such as equity, debt, or a mix of both. The value of the policy fluctuates based on market performance. ULIPs are flexible in terms of fund switching and are best suited for individuals who are comfortable with some level of risk and are looking to achieve long-term financial goals like wealth creation , buying a house, or funding higher education. However, since the returns are market-dependent, they are not guaranteed.