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insurance plan

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(Querist)
17 July 2011 hi to all,
my age is 25 year & i am unmarried. i want to purchase insurance plan. tell me the diff. between insurance plan & ulip plan. please help me on it. please give the full detail of diff.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
17 July 2011 In ULIP plan the insurance company allots you certain units on the basis of NAV of the fund in which it is investing your money. Your returns at the time of maturity depends upon the NAV of the fund. Investment is made in Shares and in debt funds according to the plan you select.
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In case of Insurance you are entitled for bonus which the company credits to your account annually. In this plan the returns on maturity are predictable on the basis of prevalent and future bonus rates.

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Looking to the Age Group of yours, it may be beneficial for you to go for any good company's ULIP plan.

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