Investment For Millennials: Take Your Pick From These 5 Options

A life insurance policy provides millennials an opportunity to ensure that family members don't have to worry if anything fatal were to happen to the insured people

There is a general feeling that millennials — or those born between 1981 and 1996 — lack patience and motivation to save for the long term, given their penchant for “living in the present” and a large appetite for risk-taking. However, the novel coronavirus pandemic has upended our lives like never before, and highlighted, more than ever the importance of accumulating money instead of frittering it. Anxious about an uncertain future, financial worries have only increased with sudden expenditures and other hardships making a way into everyone's lives, including millennials. So, here are a few investment options that will help millennials make wise choices and likely ensure a financially stress-free future. Unit Linked Insurance Plans ULIPs offer the potential of wealth creation while providing the security of a life cover. A part of your premium goes towards your life cover and the rest is dedicated to a fund, which invests in equity, debt, or a combination of both. The returns on your investments depend on the performance of the fund opted by you. Also, these plans offer tax exemption on maturity amount if the annual premium is below Rs 2.5 lakh. Public Provident Fund (PPF)