Paragraph match score 86.2%
Page A-978
Myth 5: Not a Good Option
ULIP plans combine life insurance protection with market-linked investments, making them a possible option for individuals looking to address both protection and long-term investment needs.
Page A-983
What is a ULIP Plan?
A ULIP (Unit Linked Insurance Plan) is an insurance product that offers you a dual benefit of life cover and investment to achieve long-term wealth creation . The premium paid for this plan is divided into two parts: one part of the premium goes towards life cover, and the remaining sum is invested in the fund of your choice. In ULIP plans, you can invest your money in equity, debt, or both as per your risk appetite. The ROI depends upon the performance of funds.