Explaining five Important Concepts in ILPs | edocr

Narendra Singh09 Feb, 2022Finance

An investment linked policy (ILP) is a financial product that has 2 components ? investment and life insurance. Through an ILP, you get returns primarily based on the overall performance of the sub-funds selected. ILPs allow you to collect wealth for long-time period financial goals, which include buying a new residence or sending your child for higher education abroad. The life insurance component of an ILP ensures that you?re covered towards death, terminal illness, and total/permanent disability. Thus, an ILP helps you to make investments while staying protected too.