ULIP as replacement for Term insurance???

If you want a term insurance, go for ULIP!!..
Well, many investment and insurance specialists say that don't mix insurance with investment..
With the following comparison you will trash the above statement!! Can't believe right?.

I compared two plans
1. LICs Amol Jeevan -- which offers one of the cheapest term insurance plans

2. Bajaj Allianz's Capital Unit Gain -- which is a ULIP

Sum Assured : 10 Lakhs
Term : 15 years (considering the home loan period that most people opt for).
Age : 30 yrs
Annual Investment in ULIP : 10000 (you will have to invest 10000 for 3 years)


Product premium/yr total amont amount you get
paid for 15 yrs at the end of term
------------- ---------------- -------------------- ---------------------------
Amol Jeevan 2,812.00 42180 Nil
CUG 1290 to 3600 30000 Fund value(aprox 1 Lakh)

Considering about 10% annual returns in ULIP, at the end of 15 years, your fund value will be somewhere around 1 Lakh!!!. (roughly) Even after deducting all the charges!!!..

So, now you tell me is term insurance is good or ULIP!!

Premium in Term insurance is fixed, but it varies in ULIP that's why you see the range of Rs. 1290 to 3600.