Insurance Awareness - Life Insurance - LIC
Unit Linked Insurance Plans (ULIPs) are characterized by which of the following features?
Unit Linked Insurance Plans (ULIPs) are characterized by which of the following features?
easy Q13 of 15
Step-by-Step Solution
Step 1: Recall ULIP features
ULIPs combine insurance with investment in market-linked funds, offering returns based on market performance.Final Answer:
Investment-linked policies with market-linked returns → Option AQuick Check:
ULIPs are not pure risk cover (A), nor do they guarantee fixed returns (B), nor are they whole life policies (D).
Quick Trick: ULIP = Unit Linked = Market linked investment + insurance.
Common Mistakes:
MISTAKES- Confusing ULIPs with traditional endowment or whole life policies.
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