ULIP means Unit linked Insurance plans. This plan in short means a combination of insurance plus investment through the share market.
People willing to take risks for better returns can opt for this product. Investment can be selected from four options. These plans also are better options than traditional instruments like fixed deposits.
Secured Options with less risk
- Bond Fund (Low Risk)
- Secured Fund. ( Low to Medium Risk)
- Balanced Funds (Medium Risk)
- Growth Fund (High Risk)
Lockin Period. 5 years
Invest option Available
- One Time (Single Investment)
- Monthly/ Quarterly/Half Yearly/Yearly (LIC SIIP Plan)
Ulip plans are investment plans for those who realise the worth of hard-earned money. These plans help you see your savings yield rich benefits and help you save tax even if you don’t have consistent income.