These days we surf the Internet to buy anything. All the research needed before buying a product is just a click away. The same is now true for financial products, be it insurance or investment. Comparing different products before narrowing down their choices allows investors to make an informed decision. However, this has also led to an increase in misinformation regarding popular products. One such product that has several myths associated with it is a Unit Linked Insurance Plan (ULIP).

What is ULIP?

ULIP is a unique product that offers life insurance along with an investment quotient. The premiums that you pay towards it are divided into two parts for utilization. One-half of the premium is used for providing life cover and the other half is invested in funds. The life insurance aspect ensures that in the case of an unfortunate circumstance where you lose your life during the policy, …