ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -ULIPs (Unit Linked Insurance Plans) A ULIP is the best savings plan that combines the safety of insurance protection with wealth creation opportunities. A part of the investment goes towards providing life cover, and the residual portion is invested in a fund that invests in stocks or bonds.

Detailed explanation-2: -Individual Protection & Saving Programs P&S are programs that grant insurance coverage to the policy holder in case of death or disability, God forbid, as well as long-term savings and the selection of an appropriate investment strategy.

Detailed explanation-3: -A savings insurance plan is a life insurance plan that lets the policyholder save and invest his money to financially secure himself and his loved ones. Savings plans are financial products that are designed to foster disciplined savings while providing steady returns that support you in achieving your financial goals.

Detailed explanation-4: -Unit Linked Insurance Plan (ULIP), is a combination of insurance and investment. In ULIP, a part of the premiums is deducted as insurance, and the other part of the premium is invested in market. Funds can be invested in bonds, equity, debts, market funds, or hybrid, depending on the investor.