These days, investment trends are changing for good. More and more consumers are looking to invest their money in profitable avenues that can give them excellent returns in the long run and at the same time, secure their future. One such life insurance product that offers both these benefits is a ULIP.
What is ULIP?
ULIP stands for Unit Linked Insurance Plan. Essentially, a ULIP is an investment product that is offered by life insurance companies. It is a type of integrated plan wherein, the amount invested by the insured for an insurance plan is further invested by the insurer in other avenues such as stocks to render better returns over time.
How does a ULIP work?
A ULIP works more or less on the same principle as a mutual fund. A portion of the amount invested by the insured is kept aside for providing insurance cover while the … Read more