Talk:ULIP

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From Wikipedia, the free encyclopedia Jump to: navigation, search For the school ULIP, see University of London Institute in Paris ULIP stands for Unit Linked Insurance Plan. It provides for life insurance where the policy value at any time varies according to the value of the underlying assets at the time. ULIP is life insurance solution that provides for the benefits of protection and flexibility in investment. The investment is denoted as units and is represented by the value that it has attained called as Net Asset Value (NAV).

ULIP came into play in the 1960s and is popular in many countries in the world. The reason that is attributed to the wide spread popularity of ULIP is because of the transparency and the flexibility which it offers.

As times progressed the plans were also successfully mapped along with life insurance need to retirement planning. In today’s times, ULIP provides solutions for insurance planning, financial needs, financial planning for children’s future and retirement planning. These are provided by the insurance companies or even banks. Investments made in ULIP has tax exemption under section 80C of the Indian Income Tax Act, 1961 and also returns will be covered under section 10(10D).

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