If you want to create wealth along with having an insurance cover,ULIPS Can Be your best bet.
Unit Linked Insurance Plans(ULIP) is a special form of life insurance plan wherein the premium amount is used in two ways.
Some percentage of the money is used to provide insurance coverage,while the remaining is invested in debt or equity avenues to create wealth.
The investment avenues can be decided based on individual risk-appetities.
Returns And Protection
ULIPs provide protection as well as an opportunity to boost savings
ULIPs come with the options to choose between debts and equity funds, which can be adjusted during the tenure
Apart from insurance coverage, ULIPs offer the added advantage of generating income from investments and are ideally suited for medium and long-term investors
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