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Glossary
Unit Linked Insurance Plan (ULIP): A type of linked insurance plan that combines life insurance coverage with investment in units of funds.
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Types of Life Insurance Classified as Non-Traditional
Unit Linked Insurance Plans (ULIPs)- ULIPs are one of the most popular types of non-traditional life insurance in India. These plans split the premium into two parts: one for life insurance and the other for investing in stocks, bonds, or balanced funds.