ELSS Vs ULIP – What are the differences between ULIP Vs ELSS investment ? This is the common investment queries raise by almost all the new investor.
The major difference between ELSS and ULIP investment are :
ULIP : Unit Linked Insurance Plan – is comprises of life insurance and investment offered by life insurance companies generally. The tax saving instrument but the returns are lower and non predictable including cost. Such Investment has five year locking.
ELSS : Equity Link Saving Scheme – The cost is generally low and returns are predictable. These investment are having three year locking.