Multiple choice general knowledge

ULIPs

  1. unit-linked insurance plans

  2. unit-linked insurance products

  3. unit-linked insurance for people

  4. unit-linked insurance power

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

ULIPs stands for Unit-Linked Insurance Plans (or Products). These are insurance policies that combine investment and protection, where the premium is partly invested in market instruments. 'Plans' and 'Products' are both used, but 'Products' is the more technically accurate expansion.