You can follow the steps below to invest in ULIP:
Step 1: Compare various plans available in the market.
Step 2: Go through the features and terms and conditions of the policy.
Step 3: Select the right plan for you.
Step 4: Fill in the application form.
Step 5: Pay the premium online to purchase your policy.
Now that you have a clear idea regarding the type 1 and type 2 ULIP plans, you can select the one that suits your financial goals. You can go for type 1 ULIP if you want adequate coverage at lower premiums.
However, you can select type 2 ULIP if you want substantial coverage, even at the cost of higher premiums.