0
ULIP stands for Unit Linked Insurance Plan
In terms of functioning, ULIPs are very similar to Mutual funds. A ULIP can be considered as a type of mutual fund that provides you insurance benefits and that too, to the extent you want. The money you invest would be converted into units just like in MFs and invested in the stock marketand also you would be charged an amount out of your premium to provide you the insurance coverage you want. For a layman we can assume that
ULIP = Mutual fund + Insurance
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
How can you look at your ulip status?
You have two ways:By reveiwing your quarterly ULIP statement that will be sent to you by either email or by regular postBy using the online website of the ULIP house if you have a login/password
Which is the best ULIP plan in India?
Right now, LIC's Wealth Plus ULIP policy is having moderate to reasonable Nav, in comparison to performances of private insurers' ULIP policy.
IS Bajaj allianz ulip true or fake?
Yes, its true. Bajaj Allianz has many ULIP products
Why sebi has not given notice to lic for ulip?
Because, Operations of LIC in the ULIP space was clean and they did not have any issues that the others had
Difference between traditional life insurance and ULIP policy?
Traditional life insurance gives less return but ULIP may gives high return. Traditional life insurance has no risk factor and ULIP has risk factor.
What is fullform of ULIP?
Unit-linked insurance plan.
What is the full form of ULIP and AML in life insurance?
UKIP: ULIP stands for Unit Linked Insurance Plan. It is a life insurance plan that combines life insurance with investment options. ULIPs allow policyholders to choose how their premiums are invested, and they can earn returns on their investments over time. AML: AML stands for Anti-Money Laundering. It is a set of regulations that financial institutions are required to follow to prevent money laundering. Money laundering is the process of concealing the origin of illegally obtained money. AML regulations help to ensure that financial institutions are not used to launder money.
Is advance premiums allowed in ulips?
It depends. Some ULIP houses allow it while some dont. check with your ULIP provider if they allow. In most cases they do allow advance premium payments
What type of insurance would be most affordable and still provide death benefits if one of owners dies?
I think ulip is the best option in insurance. I prefer Aegon Religare for ulip plans.
What is ULIP?
According to Investopedia, the official definition for ULIP is "A type of insurance vehicle in which the policyholder purchases units at their net asset values and also makes contributions toward another investment vehicle."
How do you invest in ulip?
By contacting an authorized agent who sells ULIPs. Most banks these days sell ULIPs in their branches. You can visit any bank and ask for ulip investment options and their customer care exec will be happy to assist you.
What is the ULIP and IRDA?
ULIP stands for Unit Linked Insurance Plan In terms of functioning, ULIPs are very similar to Mutual funds. A ULIP can be considered as a type of mutual fund that provides you insurance benefits and that too, to the extent you want. The money you invest would be converted into units just like in MFs and invested in the stock market and also you would be charged an amount out of your premium to provide you the insurance coverage you want. For a layman we can assume that ULIP = Mutual fund + Insurance IRDA stands for Insurance Regulatory and Development Agency. It supervises the Insurance sector in India
