Personal Finance 7 charges you should know before investing in ULIPs Updated : October 20, 2020 04:56 PM IST Unit linked insurance plan (ULIP), a life insurance product, offers risk cover for the insured together with investment options. It is linked to the capital market and offers the flexibility to invest units in equity or debt funds depending upon the risk appetite. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.