There are several types of life insurance plans that provide investing possibilities to help you achieve your financial objectives. When you combine this investing opportunity with life insurance protection, you have a powerful combination that not only aids in the achievement of your financial objectives but also provides financial stability.
Here are several policies to consider while discussing the various sorts of life insurance plans. However, there are two types of life insurance policies: term and permanent.
- Traditional Insurance Plans
- ULIPs
Market-linked investments and life insurance coverage are combined in ULIPs. Unit linked insurance or ULIP plan, are life insurance policies with a unique structure. Your premiums are invested in market-linked assets, allowing you to earn significant returns that are tied to the market's performance. The larger of the sum promised or the fund value is paid in the event of death. However, when the insurance matures, you will get the fund value as a maturity benefit.
Partial withdrawals, top-up premium payments, switching, premium redirection, and other policy features are available with ULIPs. As a result, you may tailor your ULIP investment to your specific needs while also benefiting from the extra security of life insurance coverage. Check out the benefits, key Features, eligibility of PayBima - Unit Linked Investment Plan & Know How to Buy ULIPs Offline and Online at PayBima.com
