A Unit-Linked Insurance Plan (ULIP) is a product that offers a dual benefit of insurance and investment. By opting for a ULIP, you will be paying a periodic premium that will partly be used to provide you an insurance cover, and partly be invested in an equity, debt or hybrid fund of your choice. With a lock-in period of five years, a ULIP can certainly help you meet your more immediate financial goals -- however, it is also one of the best instruments to save for your retirement. Here are 5 reasons why.
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