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What you need to know before buying a ULIP

ULIP is a hybrid investment product designed to meet both investment and insurance needs. The insurance premium is invested in various funds of the insured’s choice, which may belong to several classes of assets, writes The Economic Times.
What you need to know before buying a ULIP

ULIP (Unit Linked Insurance Plan) is an investment product that allows invest in various assets (stocks, bonds, funds, ETFs) under a life insurance policy. Insurance in this product as such, is nominal; the main focus is on investments. However, thanks to the insurance cover, there are many benefits for the investor, such as:

Tax incentives,

Clear inheritance procedure,

Confidentiality,

High capital protection.  

Unit Linked Insurance Plan provides access to investment strategies and funds from leading global management companies - The BlackRock, Fidelity, Morgan Stanley, Franklin Templeton Investments, etc. By investing in various funds, you actually become a small private shareholder of large companies around the world or owner of bonds from the world's leading issuers.

Source: https://economictimes.indiatimes.com/markets/bonds/five-aspects-to-consider-before-buying-a-ulip/articleshow/87946376.cms

Photos are from open sources.

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