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Unit Linked Insurance Services
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A Unit Linked Insurance Plan (ULIP) is a life insurance plan that offers dual benefits of investing your money in the market for your future goals and get life cover to financially protect your family in case of any unprecedented event. Due to this dual benefit of wealth creation and protection, ULIPs have an edge over traditional life insurance plans. Basis your risk-appetite and life goals, a ULIP allows you to invest in equity and debt funds. You can fulfil your goals such as buying a house or funding your children’s higher education with a ULIP.How Does A Unit Linked Insurance Plan Work?A Unit Linked Insurance Plan (ULIP) is a financial instrument, which combines the benefits of market-linked investment and life insurance. This means that along with providing you life cover, your investment is diversified in the market and returns are incidental to the market performance, helping you generate better returns in the long-term.Investments in ULIP can be customized as per preferences. You can choose to invest in a bouquet of diverse funds, including equity, debt, and balanced funds, basis your risk appetite. Generally, investors seeking lower risk may opt for debt funds, while equity is preferred by investors willing to take higher risks. If you are someone looking for a combination of equity and debt funds where risk is moderate and returns are higher than debt funds, then balanced funds are the right choice for you! Please find here our list of funds.Moreover, premium amount paid toward ULIP is eligible for tax benefits up to ₹1,50,000 under Sections 80C and returns upon maturity are exempt under Section 10(10D) if conditions of Income Tax Act, 1961, are fulfilled#. You need to continue your ULIP for 5 years to continue tax exemptions.
