If you are reading this, the chances are that you are exploring ways to reduce your income tax liability and also make some smart investments that help you create wealth.
In recent times, Unit Linked Insurance Plans (ULIPs) have emerged as a popular investment tool to help you save tax. ULIP serve the dual purpose of not only providing you with a life cover but also invest your money for wealth creation. It allows you to invest in a combination of equity and debt funds, thus enhancing returns for you. The ULIP tax benefit is the proverbial icing on the cake.
We explain the tax benefits offered by ULIPs at different stages of the policy: