Long Term Savings — It can surely be argued that Endowment Plans do not provide the best of returns as compared to other
pure investment products like Mutual Funds, etc. but it surely helps to create a Long Term Corpus with the savings.
A mutual fund is
a pure investment product that gives market linked returns.
Simply save money in
a pure investment product like PPF, Mutual fund for long term.
We will pick up a pure insurance product and
a pure investment product.
While ULIPs serve a dual purpose of life insurance + investment, mutual funds are
pure investment products.
You will be much better off purchasing a term life insurance plan and investing the proceeds in
a pure investment product.
Mutual funds are
pure investment products and don't offer any insurance cover.
In that case, this becomes
a pure investment product.