Investing in 4G ULIPs can be a good option for a young investor as this diversifies the risk of investment for you. One can go for a strategy where the company is managing funds on your behalf. A Wheel of Life kind of strategy can work here where the funds are invested based on your age and outstanding term. For e.g when you are young, the major portion of your money will be invested in equity funds as your risk appetite at this stage is higher as compared to when you will grow older. In the latter case, your exposure to equity will be decreased by the company and more money will be invested in debt.