There are various investment options out there including traditional fixed deposit and provident fund schemes. For me, I always believe that insurance is the safest option for investment. And even amongst them, according to me Unit Linked Insurance Plan (ULIP) is the best when it comes to investment as it offers a wide range of cover. I wanted to have a plan that provides me the valuable life cover along with helping me to grow my money and ULIPs is the option that provides me the dual benefits at once. 

Besides these, ULIP helps in saving income tax as it is eligible for tax deduction under Section 80C along with a better chance of getting high returns in the long term. Investing in ULIP will help me to achieve my financial goals in the long term. Investing in ULIP for 10 years has also allowed me to develop a habit of investment. Before making any expenditure I keep aside the insurance premium amount.

I had never thought of any sort of investment before I bought the insurance plan. It was one of my friend who suggested me to buy a ULIP plan to enjoy the dual benefits of insurance coverage and investment option. The best thing about it is the higher return that we can get from such a secure plan. I am expecting at least 15 per cent return at the time of maturity of my ULIP. Also, this way I can invest regularly.

Also, the benefits of ULIP just does not end there. There are other points where they score more over other insurance plans and investment options. ULIP gives you the option of flexibility with what kind of funds you want to invest in including debt, balanced and equity funds. There is also the option to add top-up premium, therefore, extra money can be used in making investments instead of buying new products. Factors like these leads to most of the ULIP having higher returns than any other traditional savings account or schemes. At first, I chose ULIP just to get the benefit of income tax. But I really thank my friend for the valuable financial advice. Now, I can invest and get the benefit of life insurance at one go. This combo service will help me to achieve my long-term financial goals in the coming years.