Topic Details (Notes format)

Understanding ULIPs (Unit Linked Insurance Plans)

Subject: Static GK (General Knowledge)

Book: Indian Money Knowledge

ULIPs combine insurance coverage with equity or debt investments. A portion of the premium goes toward life insurance, while the rest invests in market-linked funds. While offering tax advantages under Section 80C, ULIPs carry market risk. Insurance charges and fund management fees can affect returns. Students or young professionals seeking dual benefits of insurance and investment may explore ULIPs, but comparing them against term insurance plus separate mutual funds is vital for clarity on cost-effectiveness.

Practice Questions

Which element has the chemical symbol "S"?

View Question

Which layer of Earth’s atmosphere absorbs most of the ultraviolet radiation from the Sun?

View Question

Which ocean region lies between Australia, Southeast Asia, and the Americas, known for diverse island nations?

View Question

What is the SI unit of electric current?

View Question

Who discovered darmstadtium?

View Question

Which is the largest freshwater lake by volume in North America?

View Question

What is the basic unit of life?

View Question

Who discovered seaborgium?

View Question

Who discovered the ancient city of Ur?

View Question

Which chemical element is liquid at room temperature besides Mercury?

View Question