All About Unit Linked Insurance Plan (ULIP)
Unit Linked Insurance Plan (ULIP)
Unit Linked Insurance Plan (ULIP) is a combination of investment and insurance. In this plan insurance company puts a portion of the amount for life insurance and rest of the portion in equity-oriented a mutual fund or debt- oriented mutual fund. This division of amount to be invested is based on the long-term goals of an investor like retirement planning, children’s education, marriage, etc.
- Investment is allowed as a deduction under section 80C up to Rs 1.5 lakh
- Interest is not taxable
- Interest Rate keeps fluctuating depending ULIP Fund Performance
- Minimum Investment Amount differs for insurance companies
- No limit on Maximum Investment
Comments
Post a Comment