Only a few years back the whole market of the insurance sector was ruled majorly by term and endowment plans. As the time passed by, the customer wanted more options and the insurance companies were looking to change the scene as well. Then, came the Unit Linked Insurance Plans that are also known as ULIPs. These plans seem complicated but if you understand them properly, they are easy to manage.

The following are the 10 top points you need to know about ULIPs

1. What is the use?

ULIP provides you an option to mix the insurance and investment in a single plan. With the units you buy in Unit Linked Insurance with the premiums you are paying, the money will not only provide your family an assured amount at the time of untimely death but will also give you a secure future after retirement.

2. The advantages

• It provides insurance cover

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