Insurance continues to be mis-sold in India and ULIP is one of such products. It does not make any sense to mix insurance and investment. If you need insurance for your family, against income loss on death or a liability like a loan, it's best to take a plain vanilla term plan. You pay a premium against the risk insured, no other returns. If you are looking for investment, why pay even 2-3% extra in ULIPS, go for a direct plan in mutual funds, choosing equity, debt or balanced plans as per your age, future objectives and risk taking ability.
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