Which Is Better – ULIP Or Traditional Life Insurance Plans?
ULIP is a type of insurance plan that gives investors the choice of both insurance and investments in a single policy. Traditional insurance plans, on the other hand, are ideal for people who solely seek a life cover, and possibly, some form of maturity benefits. Traditional life plans may offer benefits like low-risk levels, fixed maturity returns, and tax benefits.
Those who chose traditional insurance plans tend to do so mostly because they consider it to be a safer choice. This is one of the low-risk ways to create a corpus for your family’s future.
ULIP and Traditional Insurance Plans comparison
Traditional insurance plans are known to be low-risk, but the maturity returns they offer may not be as lucrative as offered by investment plans. ULIPs, on the other hand, offer returns ...