ABSTRACT

ULIPS are a category of goal based financial solution that combines the safety of insurance protection with wealth creation opportunities. These are the new avenues for the people to get a twin benefits by having life cover as well as the benefits from the security market. This study is about the customer awareness level of ULIPS scheme. This study also explores about the customers perception level of Unit Linked Investment Plan in Insurance and also compares ULIPS plan in various insurance companies. The interest shown by people in the Unit Linked Insurance Plans is because of the many benefits these plans offer such as high growth potential, life risk cover, transparency, tax benefits and premium payment flexibility etc. It is one of the best methods of investments if one is living in an economy that is booming and is on the path to growth. The units that are part of the share market are bought with money invested by the investor and as the equity market grows, the money invested by the investor also increases and gives a good return. The present paper focuses on the evaluation of the ULIPs of sampled life insurers operating in the Salem division, on the basis of the main components of the plans highlighted by the insurers and opinions of the policyholders of sampled companies collected through a questionnaire. The sample has been selected on the basis of non-probability sampling techniques.