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ULIPs have been hot-selling life insurance plans for the investment benefits that they provide. However, like other insurance plans, ULIPs have their fair share of technical aspects that many investors tend to overlook, which is a mistake.
When you invest your savings in ULIPs, you need to be fully aware of what the plans involve and their terms and conditions. So, here’s an extensive lowdown on ULIPs for a detailed understanding –
What is a ULIP?
Short for Unit LinkedMORE
Unit linked insurance plans, or ULIPs as they are popularly called in short, help you get the benefit of investing in the capital markets while enjoying life insurance protection. ULIPs offer different types of market-linked funds for investment. You can choose one or more funds. The premium you pay is directed to the desired funds, invested in a diversified portfolio of stocks and securities. Moreover, every fund is professionally managed by experienced fund managers to get the best returnsMORE
When you invest your hard-earned savings, you want to earn the best returns on your investments. This helps you create an optimal corpus to fulfil your financial goals. But what if your money gives you more than just returns?
Aviva has introduced a unique Unit-Linked Insurance Plan (ULIP) to its portfolio, Aviva Fortune Plus, which makes your money multitask. Besides providing multiple options to investMORE
What is a Term Plan?
A term plan is a traditional form of life insurance that provides financial protection to your family in your absence. It insures the life assured with a large life cover at a relatively low premium rate.
Why buy a Term insurance Plan?
- When you have a family, the need for protecting your loved ones becomes one of the top priorities in life. Term Insurance Plans help a person be prepared for Life’s