Life Insurance Primers

ULIPs

Thursday 20 December 2007

Unit-linked Insurance Plans (ULIPs) combine the benefits of life insurance policies with mutual funds. A certain part of the premium is invested in listed equities/debt funds/bonds, and the balance is used to provide for life insurance and fund management expenses. Yields earned on investments i.e. the value of the investment or the sum assured, whichever is higher, is paid to the insured or nominee. This varies from company to company i.e. some insurance companies pay the value of the investment in addition to the sum assured.

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