ULIPs

• A long-term combination of an investment fund and an insurance policy
• Offers liquidity, flexibility and transparency
• Rich features like top-up or switch between funds for a higher performance
• Increase or decrease in the protection level possible
• Under Section 80C, one can save up to Rs 33,990 from his/her tax annually (calculated on the highest tax bracket) as premiums up to Rs 1,00,000 are allowed as a deduction from the taxable income.
• The benefits are exempt from tax under Section 10(10D) of the Income Tax.