ULIP vs. Term Insurance – The Big Debate
Nidhi Mishra (She/Her)
Expert Digital Strategist: Top Digital Strategist shares insights from EY, Policybazaar & HT Media
‘Never mix investments with insurance.’ Most of us have heard this advice. Even more of us swear by it.
While we know that insurance products have their pros and cons, what every potential buyer agonises over is making the right choice among these products. And, with choices come details; with details coming debates. One such debate is between Term Insurance and ULIPs. Some experts, through their newspaper columns and blogs, generally recommend Term Insurance. While others suggest that for those looking for a policy that can act as both investment and insurance, ULIP can be a fitting solution.
While both have their ups and downs, Term Insurance is being backed by every investment guru. But, is it wise to put all your eggs in one basket?
To make a sound investment, it is essential to analyse every aspect of a plan with a fine-toothed comb. To make the choice easier for you, here is a comparison of Term Insurance and ULIPs. Hopefully, it will make sense of the conflicting opinions.