In most cases, a separate Term Plan (for protection) and a Mutual Fund SIP (for investment) is financially superior. A long term goal planner in Pune will say the same. ULIPs combine both but often have higher charges (premium, fund management) and a longer lock-in period, which eats into compounding. https://www.goldenmeanfinserv.com/goal-based-financial-planning-in-pune.php