Over the years, while the market for pure protection plans has grown significantly, the launch of low-cost 4G ULIPs has successfully added an impetus to the plethora of opportunities available. The 4G or new-age ULIPs - as many refer - are playing a vital role in the insurance sector. And with implementation of numerous positive changes to ULIP regulations over the last few years, especially those in the favour of customers, this category of product has come of age. The 4G ULIPs available in the market today rightly compete with other alternate investments options, and mostly turn out to be a better choice given the ample benefits of ULIPs in wealth creation, long term investment and retirement solution.