Listed below are some of the factors you ought to consider prior to investing in a Unit Linked Investment Plan:
Charges Applicable – Understand the charges deducted by different ULIP plan providers and select a plan that has the lowest expenses tethered to it such that you can maximise your returns
Risks Involved – Assess the ULIP fund’s performance and the risks associated with it and consider whether you have a risk threshold that aligns with that of the fund
Tax Benefits – It is worth noting the tax-benefits associated with a ULIP and understand they kick in once the five-year lock in period comes to a close