The switches in 4G ULIPs are completely cost-free and the customer can make the unlimited number of switches. Unlike other retirement products, the income from new 4G ULIPs is completely tax-free. It has EEE benefit which is Exempt on the amount of money invested, Exempt on the amount of money you get and Exempt on the interest. Customer also has the freedom to choose the payout period i.e they may choose to receive the payout monthly, quarterly, half-yearly or even yearly. There is also the freedom to change the payout amount anytime in the future depending upon the requirement.