State which of the following statements is correct

A. ULIPs provide for flexibility

B. ULIPs are better than traditional policies

C. Both the above statements are correct

D. Both the above statements are wrong

Answer: Option A

Solution(By Examveda Team)

ULIPs offer an advantage in terms of being flexible and customisable. ULIPs provide flexibility of premium payment, option to move your money between equity and debt funds and allow you to withdraw a part of your money whenever you need it.