Unit Linked Insurance Premium is a type of endowment plan that offers dual benefits. According to this plan, one part of the premium is used as a life cover just like a term policy, and the other part is invested in equity, debt or hybrid funds. It will give you high returns in the long run. You can switch between the different funds based on market fluctuations. If you are an early investor looking for insurance and investment benefits, ULIP is an ideal option. It has tax* benefits as well.
