UL allows you to invest money along with providing insurance protection. This is convenient as it combines important financial aspects in one contract.
Many investment funds offer UL, including stocks, bonds, real estate, and metals. Life insurance companies usually offer the possibility to transfer money into various instruments.
In case of unforeseen circumstances such as policyholder’s death, their families will be provided with the coverage amount. This provides financial security and support during difficult times.
UL contributions may be tax deductible in many countries.
Source: https://www.freepressjournal.in/business/why-are-ulips-a-good-investment-option
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