No one product will suit the needs of every person

No one product will suit the needs of every person. One will need to identify what his priorities/needs are and then select a product that will meet his needs.

1) If ones priority is mainly investments(return on investment) with insurance cover, then one needs to opt for a good ULIP with less charges and good returns.(Recommend: SBI, HDFC)

2) Guaranteed Returns: Recommend: Traditional endowment plan from LIC.

3) Maximum Insurance Cover with Returns: Regular ULIPS. (Reliance, Bajaj Allianz, ICICI which offer sum assured of 100 times the premium.)

4) Maximum Term(Whole Life): If your priority is to have insurance cover for the rest of your life without any age restrictions, then "Whole Life" ULIPS should suit you best.

5) Childrens Education: Childs Education/Marriage" (Recommend Children's ULIPS. IHDFC Young Star and ICICI Smart Kid or a children's ULIP from any company.) In my opinion, these are very well designed ULIPS which offer excellent security for your kids future. Incase anything unfortunate happens to the proposer, these plans offer immediate "Sum Assured" to the beneficiary. If it is for your Children's future, please donot go for anything less than a Children's ULIP.

6)High Sum Assured with small premiumP: Recommend "Term Plan" of companies like LIC, ICICI and HDFC and checkout which term plan works out to be the best.