With the rise in income of middle class, growing financial literacy and ease of investing, the general population is taking an active interest in mutual funds. Most of the salaried employees and even businessmen are taking the SIP route to investing in mutual funds. In this article, we will see the different types of SIPs, and what best suits your needs Before that, we should see what is an SIP, and how to invest in one. SIP stands for Systematic Investment Plan. As the name makes it evident, it is…
Day: May 11, 2019 Articles
What is ULIP and Benefits of ULIP
What is ULIP? A Unit Linked Insurance Plan (ULIP) is a financial product, which, unlike a pure insurance policy, provides both insurance and investment in a single plan. ULIPs are offered by insurance companies. There are multiple variations available, which can be tailored to the customer’s requirements, age and risk appetite. How does it function? As mentioned earlier, a ULIP is a combination of insurance and investment. A part of the premium paid is used to provide insurance cover to the policyholder and the remaining is used to invest in…