While you are researching so many insurance plans you would have definitely come across the abbreviation -ULIP. The full form of ULIP is Unit Linked Insurance Plan which is a kind of insurance policy that helps you in multiple ways for planning your future wisely. ULIP is so far one of the most considered insurance plans that many people prefer because of it’s multiple benefits and the flexibility that it offers. Keep reading if you want to know more about it..
The Unit Linked Insurance Plan, as the name suggests, assists you in not only obtaining assured insurance for your retirement but also in growing your savings while remaining in this policy. In this plan, one part of your investments is kept secure for your retirement. And the litter part is invested in your preferred funds. These can either be equity or debt or both! The word unit linked itself specifies that your investments in these funds are totally subjected to market fluctuations and unit based. This means you can invest as much as you like in your preferred fund as per your risk-taking strategy.
We are sure after reading the details about the Unit Linked Insurance Plan you are definitely curious to know about the benefits you are going to get as part of investing in it. So here are the advantages of considering this plan for your future.
Apart from all these benefits, Unit Linked Insurance Plan also provides you a large tax benefit along with being a goal-based policy for your future.
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