Unit Linked Insurance Plan

It's a Market Linked Insurance Plan with a Locking Period for 5yrs. It’s a Market based scheme and gives you a return on Indian market conditions. You should have the same in your Portfolio as it will try and Balance your return on your savings to the Inflation rate, As compared to Mutual Funds, ULIP gives a Lump Sum amount at the end of min of 5 yrs but ideally you should take this scheme for 10yrs as the minimum maturity period to get the best of the returns. It does not assure you a return but kept for 10yrs will definitely give you a return of 10 -12% tax free.