Srinagar, May 1 -- Firstly, let's explore mutual funds. When you invest in mutual funds, you are putting 100% of your money into the market with low-cost expenses. Mutual funds offer flexibility as you can withdraw your money fully or partially at any time. You can also increase your investment through lump-sum contributions or monthly SIPs. Additionally, investors do not pay GST on mutual funds, making it a cost-effective investment option.

On the other hand, ULIP insurance combines insurance and investment. A portion of your money goes towards insurance coverage, and the rest is invested in the market. However, ULIPs come with fund management charges, mortality charges, and other fees. Unlike mutual funds, you cannot withdraw your mone...