ULIP provides dual benefits of investment and life insurance. The premium paid to ULIP is divided into two parts. The first part goes towards life insurance, while the second is invested in a fund of the LIC client's choice.
“ULIP provides continuity of investment along with death benefit coverage. You can choose securities, market or currency in which your funds will be invested, - explained Vivek Jain, Head of Investments, Policybazaar.com. - Everyone should have insurance. But the common problem in India is that most people do not understand that such insurance provides great benefits in addition to risks, for example, taxes and market growth.”
Indian investment insurance brings its clients 15% per annum on average.
Photos are from open sources.
