ULIPs withdrawal tax free after 5 years!

[most]

ULIPs are sold by saying that if you withdraw money after 3 years it will be taxfree and many of us also confuse it with ELSS and think that money is taxfree afer 3 years. But here is a thing to note that withdrawl from ulip before 5 years is taxable? Am I right here!

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[>take]

Yes, you are right. Withdrawal from ulip, before 5 years is taxable.