ULIP (Unit-Linked Insurance Plan) is one of the most popular investment options available in the insurance market. ULIP plans offer the freedom to explore the vast domain of investment market at the same time offering risk coverage component.
There was a time when mutual funds and share market were collectively dominating investors’ investment portfolios. During the time, the ULIP policies were introduced in the market to attract the customers with a promise of higher returns on their investments. Over the course of time, ULIP policies have become the most popular investment entities among the investors as they come with the dual benefit of wealth maximization and insurance cover.