What is ULIP?

A ULIP (Unit Linked Insurance Plan) is a hybrid financial product that combines life insurance coverage with market-linked investment. It offers the dual benefit of protection and wealth creation.

When you invest in a ULIP, a portion of your premium goes toward providing life insurance coverage, while the remaining amount is invested in equity, debt, or balanced mutual fund units as per your chosen risk profile.

ULIPs are suitable for long-term goals like children's education, retirement planning, or wealth accumulation. They also offer tax benefits under Section 80C and tax-free maturity under Section 10(10D) (subject to conditions).

 How ULIP Works

• Lock-in period: Minimum 5 years
• Fund options: Equity, Debt, or Hybrid
• Flexibility: Switch between funds without tax impact
• Transparency: Fund value can be tracked daily