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UILP is the best protection plan in the insurance market

Life insurance has become an integral part of an individual’s finances nowadays. Rising awareness of insurance products and consumer expectations have brought a revolutionary phase in the insurance sector. Earlier, insurance products were too rigid with a long-term perspective only. But since, the inception of Unit-Linked Insurance Plan (ULIP) the product has provided much-needed flexibility and earnings for short term of around 5 to 7 years. When ULIPs were introduced in markets the product received a setback due to high administrative charges. However, with the initiative of IRDAI the product was revised and made comfortably flexible and suitable for consumers. ULIPs have undergone many changes in their charges and structure when SEBI intervened a few years back. Investing in ULIP h... Read more

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