Insurance, apart from being an instrument of financial security for the future of your loved ones, is also considered as a good option for investment. Insurance, unlike stocks, is a safe form of investment. While you might be wary about investing in shares directly, there are options that let you invest in the stock market while simultaneously providing the security of an insurance cover. Unit-Linked Insurance Plans or ULIPs are exactly what you’re looking for.
When you buy ULIP plans, a portion of your money is invested across assets like stocks, bonds, and so on, similar to investing in mutual funds. The remaining money is used to buy you a life cover, valid for a certain period of time. This way, you earn a cool return on your money and remain insured at the same time.