PHOTO: BT FILERECENT articles and online discussions have painted investment-linked policies (ILPs) as costly and irrelevant. Since their introduction in the 1990s, ILPs have evolved into several categories: dual-objective ILPs, which combine protection and investment goals; protection ILPs, focused on providing insurance coverage; accumulation ILPs, geared towards building wealth; and single-premium ILPs, typically used for lump-sum investments. Why older policies seem costlyMuch of the criticism targets the older dual-objective ILPs. Benefits often overlookedDespite higher upfront costs, dual-objective ILPs offered unique advantages. Here are some questions to consider:What type of ILP do you own: dual-objective, protection, accumulation, or single-premium?