What Is A Ulip?

In today’s market, there are multiple insurance policies and multiple investment schemes available. If you’re an individual who wants the best of both worlds, then ULIP is your best option.

ULIP stands for Unit Linked Insurance Plan and is a unique combination of an investment opportunity and life insurance. In this, a portion of the insurance premium is allocated towards the life insurance cover and the remaining portion is used for investments in stocks, mutual funds, or other market schemes as per your interest.

If you’re planning to purchase a ULIP this year, you need not visit an insurance company’s office or contact their representatives. You can easily find all the necessary information online on the company’s website.

If you wish to compare different ULIPs and want to purchase one in a hassle-free manner then you can visit online broker websites such as Coverfox.com. It is a good practice to compare all the available options before purchasing one. This way, you are aware of the features offered by various insurance companies and can make an informed decision.

Some Of The Reasons To Buy Ulip

ULIP in India has gained momentum over the years and has become one of the preferred investment options. There are multiple reasons for this. These are:

1) Flexibility

In most of the investment schemes, you are stuck with the same fund for a certain period of time. You cannot switch to another fund easily and might end up missing out on a golden opportunity. With ULIP, you have complete control over the investment portfolio and can easily switch between debt and equity funds.

2) Tax Benefits

Tax can be deducted on the profits gained through most investment schemes. With ULIP, you will get tax benefits on your life insurance plan under section 80C and … Read More..

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