Question
_______________is also known as insurance-cum-investment policy.
Solution
This policy is also known as insurance-cum-investment category. Here, the policy holder gets the benefit of both insurance and investment. ULIP is more likely similar to mutual funds, since a part of the policy premium amount is towards insurance and the rest is invested in equity and debt instruments. Since, investments are made from a part of the policy amount, there are many benefits that are provided to the policy holder.
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