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Something about the UL product

ULIP (Unit Linked Insurance Plan) is a type of insurance product that is a combination of life insurance with an investment option. ULIP provides insurance coverage in case of death of the insured and also allows a portion of the premium to be invested in various investment funds such as shares, bonds, or other financial instruments.
Something about the UL product

Premiums paid under ULIP are shared between insurance company and investment funds, depending on the choice of the insured. This means that part of premium is spent on insurance and the rest is invested.

ULIP is flexible in terms of choosing the investment strategy and allows making changes in investment allocation, in accordance with the insured’s financial goals and risk tolerance.

It is important to note that ULIP may have different terms and conditions, so before purchasing this product, one needs to study the insurance company's offer well and consult a financial advisor.

Source: https://www.forbes.com/advisor/in/life-insurance/ulip/

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