An investment linked policy (ILP) is a plan that provides the individual with life coverage along with investment component. Many individuals invest in ILPs as they offer them the best of both worlds. However, some are a bit sceptical and prefer to keep their wealth accumulation goals distinct from their insurance plans. Unfortunately for these people, their scepticism may be holding them back from benefiting from one of the most powerful financial tools available in the market. Hence, to prevent you from losing out on the benefits that ILPs can provide, take a look at the 4 common misconceptions about ILPs.