India, April 28 -- Over the past few years, the Indian insurance space has seen a shift. More investors are moving towards market-linked plans that offer both protection and growth. At the centre of this change is the ULIP (Unit Linked Insurance Plan) segment, which is now estimated to be approaching the $1 trillion mark globally. That's not just a big number; it indicates a change in how people think about long-term financial planning. In this article, the focus is on what IRDAI data says, why ULIPs are gaining traction, and how they are changing the way people invest and insure at the same time.

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