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Yes, ULIPs (Unit-Linked Insurance Plans) are a type of investment plan. ULIPs combine both insurance and investment components in a single plan. A portion of the premium you pay goes toward providing life insurance coverage, while the remaining amount is invested in various funds. The returns from ULIPs are linked to the performance of these underlying investment funds./p>
ULIPs can offer high returns over the long term because they invest in a mix of equity and debt funds. The returns, however, depend on the performance of the underlying investments and market conditions. You can potentially achieve significant returns, but they also come with a certain level of risk.
Some of the best investment plans for tax benefits include Unit Linked Insurance Plans (ULIPs), Equity-Linked Saving Schemes (ELSS), Public Provident Fund (PPF), and National Savings Certificate (NSC). These options offer tax deductions under various sections of the Income Tax Act.
The Best Investment Plans for retired persons in India are annuity plans, retirement or pension plans. These plans are offered by life insurance companies and can provide a steady stream of income for the post-retirement in exchange for a lump-sum payment or regular payments.
The taxation of interest or returns received on LIC's investment plans depends on the specific plan and prevailing tax regulations. Generally, the returns from life insurance plans are tax-exempt under Section 10(10D) of the Income Tax Act, provided certain conditions are met. It is advisable to contact an insurer to understand the tax implications of your specific LIC investment plan.
When considering where to invest for 2-years , you can explore options insurance-cum-investment plans, like Unit Linked Insurance Plans (ULIPs), short-term endowment policies, money-back policies, etc. PolicyBachat provides the best investment plans with high returns. So, compare quotes now to invest money for 2 years and get the best returns.
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