It means Unit Linked Insurance Plans. It is a type of life insurance plan which offers both benefits of insurance and investment. This policy offers investors an opportunity to invest in life insurance policy and also mutual funds with a single plan. The investment plan is divided into two parts- one invested towards Debt, equity or hybrid mutual funds. Another part is used to buy life coverage such as any life insurance policy.
Types: Equity funds, Debts funds, Balanced Funds,4G or whole life Ulip
Benefits: Different Ulip policy comes with the equity, debt and balanced fund options which chosen by the policy holder and it also provide opportunity to the associates to move their money between different funds to get maximum returns. Free-Look Period and also Net Asset Value (NAV) are facilities of this type of policy which provides transparency to the associates.