Unit Linked Insurance Plan (ULIP) is a type of insurance where you can enjoy the benefit of being provided a cover as well see your investment grow over a period of time. A part of the premium paid by you is utilised in different investment tools while the rest of the balance is kept as part of your insurance coverage.
|Type of funds||Nature of risk||Type of returns|
|Bond funds||Medium||Low to medium|
Purchasing a ULIP keeping in mind your long-term goals can be very helpful in many ways. The reasons how this plan can be a great investment tool are given below.
ULIP is a brilliant tool to avail if you plan to create wealth for yourself. The ways through which a ULIP can you in creating wealth are given below.
Hence, ULIPs are brilliant insurance products which not only provide you cover but also allow your savings to get maximised over a period of time. You can buy a ULIP to satisfy your various requirements. Such plans not only help you in ensuring that you are able to provide quality education to your children but also help you in building a corpus so that you can lead a secure and relaxed life, especially post-retirement. A ULIP is a great tool for those who want a protective cover as well as maximise their savings. You can also choose the funds in which you would like to invest your money keeping in mind your future requirements and financial abilities.
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