What are Unit Linked Insurance Plans? Everything You Need To Know About ULIP
Many of you have experienced the sudden inflation rise and cost of living post-pandemic which makes you think are we making the best use of our income? As many people look to save money in the future, they don't have enough savings to use for the long term. Here is where ULIP comes into play. ULIP refers to the Unit Link Investment Plan which is a mix of insurance and investment. ULIP comes with a different plan that enables you to manage the flexibility of your funds but also provides benefits of protection against risks. In other words, Unit link investment plan gives you a dual facility to provide wealth creation along with life cover. Hence, it is extremely important to know everything about ULIP before investing in these plans. In this blog, you will get everything about ULIP, it's functioning and its benefits. What is ULIP? ULIP or Unit Linked Investment Plan is the merger of insurance and investment. ULIP is coined by an investor with an aim of prov...