All About Unit Linked Insurance Plan (ULIP)

Unit Linked Insurance Plan (ULIP) is a mix of insurance along with investment. From a ULIP, the goal is to provide wealth creation along with life cover where the insurance company puts a portion of your investment towards life insurance and rest into a fund that is based on equity or debt or both and matches with your long-term goals.

source https://www.caclubindia.com/articles/unit-linked-insurance-plan-ulip-47018.asp