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“Just imagine what if something happens to you unexpectedly?
Who will take care of your family financially?
But, here TATA AIA Smart Sampporna Raksha Plan can give you life protection in your absence and an opportunity for wealth creation during the policy term.”
These are the things that your insurance agent tells you to make you purchase the insurance plan.
But, will the TATA AIA Smart Sampporna Raksha Plan help you?
Will TATA AIA Smart Sampporna Raksha Plan guaranteed income help you to beat inflation in the long term?
Will the TATA AIA Smart Sampoorna Raksha plan be suitable for your investment portfolio or not?
In this article, let us dissect TATA AIA Smart Sampoorna Raksha plan and do an in-depth analysis before making a decision.
Table of Content:
What is the TATA AIA Smart Sampoorna Raksha plan?
Features of TATA AIA Smart Sampoorna Raksha Plan
Benefits of TATA AIA Smart Sampoorna Raksha Plan
Fund options of TATA AIA Smart Sampoorna Raksha Plan
Eligibility of TATA AIA Smart Sampoorna Raksha Plan
Charges of TATA AIA Smart Sampoorna Raksha Plan
Other Benefits of TATA AIA Smart Sampoorna Raksha
Advantages of TATA AIA Smart Sampoorna Raksha Plan
Disadvantages of TATA AIA Smart Sampoorna Raksha Plan
Research Methodology
IRR of TATA AIA Smart Sampoorna Raksha plan: Example with illustration
TATA AIA Smart Sampoorna Raksha vs. Tata AIA Life Guaranteed Return Insurance Plan:
TATA AIA Smart Sampoorna Raksha vs. Tata AIA Life Insurance Fortune Pro
TATA AIA Smart Sampoorna Raksha vs. TATA AIA Smart Sampoorna Raksha Supreme
TATA AIA Smart Sampoorna Raksha vs. PPF + Term Insurance:
TATA AIA Smart Sampoorna Raksha vs. ELSS + Term Insurance:
TATA AIA Smart Sampoorna Raksha Plan vs Other Investments: Comparison – Review
Final Verdict on TATA AIA Smart Sampoorna Raksha Plan
What is the TATA AIA Smart Sampoorna Raksha plan?
TATA AIA Smart Sampoorna Raksha Plan is a ULIP that gives life protection and savings.
This savings-oriented Unit Linked Insurance Plan allows you to invest in numerous funds and offers life coverage.
Furthermore, for a long-term investment, it is refunding 2X Premium Allocation Charges, 2X Mortality Charges, and Cover Continuance Boosters. Will this result in a better ROI? We will explore…
Tata AIA Life Insurance Smart Sampoorna Raksha claims to assist you in achieving long-term goals like children’s education, retirement planning, and wealth accumulation, as well as protecting your life goals with proper life insurance.
Features of TATA AIA Smart Sampoorna Raksha Plan:
- It is a non-participating unit-linked individual life insurance plan for savings and protection.
- Based on your risk tolerance, you can choose from 11 funds ranging from equities to fixed income.
- Refunds of 2 times Mortality Charges begin in the 11th policy year.
- Refund of 2 times Premium Allocation Fees in Policy Years 10, 11, 12, and 13
- Option to pay a regular or restricted premium for 5, 10, or 12 years.
- Tax advantage according to applicable tax legislation.
Benefits of TATA AIA Smart Sampoorna Raksha Plan:
Maturity Benefit:
If the policyholder survives throughout the end of the policy term, then the policyholder will get the total fund value including the top-up premium fund value as on the date of the maturity.
Death Benefit:
If the policyholder passes away during the policy term then the nominee of the policyholder will get the death benefit that pays the highest of the following.
- Basic Sum Assured minus the partial withdrawal if any.
- The regular premium fund value as on the death of the policyholder.
- 105% of the total premium paid Plus the highest of the following
- The authorized top-up Sum Assured
- Top-up Premium Fund Value of this Policy.
- 105% of the total premium paid on the death of the policyholder.
Fund options of TATA AIA Smart Sampoorna Raksha Plan:
| Fund name | Risk profile | Asset Allocation | |||
| Equity | Debt | Money Market | |||
| 1 | Multi-Cap Fund (ULIF 060 15/07/14 MCF 110) | High | 60%-100% | 0-40% | 0-40% |
| 2 | India Consumption Fund (ULIF 061 15/07/14 ICF 110) | High | 60%-100% | 0-40% | 0-40% |
| 3 | Top 50 Fund (ULIF 026 12/01/09 ITF 110) | High | 60%-100% | — | 0-40% |
| 4 | Top 200 fund (ULIF 027 12/01/09 ITT 110) | High | 0-40% | 60%-100% | 0-40% |
| 5 | Super Select Equity Fund (ULIF 035 16/10/09 TSS 110) | High | 60%-100% | 0-40% | 0-40% |
| 6 | Large Cap Equity Fund (ULIF 017 07/01/08 TLC 110) | High | 80%-100% | — | 0-20% |
| 7 | Whole Life Mid Cap Equity Fund (ULIF 009 04/01/07 WLE 110 | High | 60%-100% | — | 0-40% |
| 8 | Whole Life Aggressive Growth Fund (ULIF 010 04/01/07 WLA 110) | Medium to High | 50%-80% | 20%-50% | 0-30% |
| 9 | Whole Life Stable Growth Fund (ULIF 011 04/01/07 WLS 110) | Low to Medium | 30%-50% | 50%-70% | 0-20% |
| 10 | Whole Life Income Fund (ULIF 012 04/01/07 WLI 110) | Low | — | 60%-100% | 0-40% |
| 11 | Whole Life Short-Term Fixed Income Fund (ULIF 013 04/01/07 WLF 110 | Low | — | 60%-100% | 0-40% |
| Govt sect | Money Market | ||||
| Discontinued policy fund | 60%-100% | 0-40% | |||
In the above table, we have calculated the different asset allocation % for equity, debt, and money market for different fund options.
The policyholder can switch between the funds that have the same characteristic as per the policy terms and conditions.
| Closed Fund | Default Fund |
| Whole Life Mid Cap Equity Fund, Multi-Cap Fund, India Consumption Fund, Top 50 Fund, Top 200 Fund, Super Select Equity Fund | Large Cap Equity Fund |
| Whole Life Aggressive Growth Fund | Whole Life Stable Growth Fund |
| Whole Life Income Fund | Whole Life Short-Term Fixed Income Fund |
TATA AIA Smart Sampoorna Raksha Plan – Portfolio Strategy Review:
Enhanced Systematic Money Allocation & Regular Transfer (Enhanced SMART)
The policyholder has the option to choose between two funds under Enhanced SMART. They are debt-oriented funds and equity-oriented funds.
It allows the policyholder to explore the volatile equity market in a structured manner under the Regular Premium Fund (not available to top-up premium fund).
Your annual premium paid will be parked in the debt-oriented funds along with any existing units in that fund. Then it will be systematically transferred to your equity-oriented funds on a monthly basis.
| Debt Oriented Funds | Equity Oriented Funds |
| Whole Life Income Fund | Large Cap Equity Fund |
| Whole Life Short-Term Fixed Income Fund | Whole Life Mid-Cap Equity Fund |
| Multi-Cap Fund | |
| India Consumption Fund | |
| Top 50 fund | |
| Top 200 fund | |
| Super Select Equity Fund |
Eligibility of TATA AIA Smart Sampoorna Raksha Plan:
| Minimum age at entry | 18 years |
| Maximum age at entry | 60 years |
| Minimum age at maturity | 48 years |
| Maximum age at maturity | 100 years |
| Policy term | 30 and 40 years |
| Premium payment term options | Limited pay: 5/10/12 years |
| Regular pay: Equal to the policy term | |
| Premium payment frequency options | Annual |
| Semi-annual | |
| Quarterly | |
| Monthly | |
| Minimum Premium | Limited Pay 5 years: Rs. 60,000 |
| Others: Rs 18,000 | |
| Top-up Premium: R 5,000 per Top-up | |
| Minimum basic sum assured | 10 times the Annualized Premium |
Charges of TATA AIA Smart Sampoorna Raksha Plan:
1. Premium Allocation Charge:
Premium Allocation Charge is deducted from the Regular Premium.
| Premium Allocation Charge as a % of Annualised Premium | |||
| Policy Year | % of Annualised Premium | ||
| 1 | 12% | ||
| 2 | 6% | ||
| 3 | 5% | ||
| 4 | 3% | ||
| 5 | NIL | ||
| Top-up premium | 2% of Top-up premium | ||
2. Policy Administration Charge:
From the 5th policy term, onwards 0.41% pa will be deducted as a policy administration charge.
3. Fund Management Charge:
The Fund Management Charge will be deducted for each fund as per the below table.
| S NO | Fund Name | Fund Management Charge per Annum |
| 1 | Multi-Cap Fund | 1.20% |
| 2 | India Consumption Fund | 1.20% |
| 3 | Top 50 fund | 1.20% |
| 4 | Top 200 | 1.20% |
| 5 | Super Select Equity Fund | 1.20% |
| 6 | Large Cap Equity Fund | 1.20% |
| 7 | Whole Life Mid-cap Equity Fund | 1.20% |
| 8 | Whole Life Aggressive Growth Fund | 1.10% |
| 9 | Whole Life Stable Growth Fund | 1.00% |
| 10 | Whole Life Income Fund | 0.80% |
| 11 | Whole Life Short-Term Fixed Income Fund | 0.65% |
| Discontinued Policy Fund | 0.50% |
4. Mortality Charge:
Mortality charge = Sum at Risk (SAR) multiplied by the relevant Mortality Rate for the month, depending on the Life insured’s achieved age.
| Sample Age | Mortality Charges per 1000 Sum at Risk (per annum) |
| 25 | 0.787 |
| 35 | 1.016 |
| 45 | 2.179 |
| 55 | 6.348 |
5. Discontinuance Charge:
If the policy is discontinued within 5 years of its initiation, the discontinuance charge will be applied.
| Policy Year | Maximum Discontinuance Charges for the policies having annualized premiums up to R 50,000/ | Maximum Discontinuance Charges for the policies having annualized premium above R 50,000/ |
| 1 | Lower of 20% of Annualised Premium or Regular Premium Fund Value subject to a maximum of R 3000 | Lower of 6% of Annualised Premium or Regular Premium Fund Value subject to a maximum of R 6000 |
| 2 | Lower of 15% of Annualised Premium or Regular Premium Fund Value subject to a maximum of R 2000 | Lower of 4% of Annualised Premium or Regular Premium Fund Value subject to a maximum of R 5000 |
| 3 | Lower of 10% of Annualised Premium or Regular Premium Fund Value subject to a maximum of R 1500 | Lower of 3% of Annualised Premium or Regular Premium Fund Value subject to a maximum of R 4000 |
| 4 | Lower of 5% of Annualised Premium or Regular Premium Fund Value subject to a maximum of R 1000 | Lower of 2% of Annualised Premium or Regular Premium Fund Value subject maximum of R 2000 |
| 5+ | NIL | NIL |
6. Partial Withdrawal Charge:
There is no Partial withdrawal charge.
7. Fund Switching Charge:
There are 12 switches free. After that, the policyholder needs to pay Rs. 100 for every switch.
8. Premium Re-direction Charge:
There is no Premium Re-direction Charge.
9. Insight on Charges in TATA AIA Smart Sampoorna Raksha Plan:
Here, though there are some charges such as Fund Management Charges and mortality charges are justifiable, some charges such as Switching Charges, allocation charges, administration charges, and discontinuance are not justifiable. So, it is better to consider the charges and how much they charge, and whether they are reasonable or not before purchasing the plan.
Please note mutual funds don’t have allocation charges, administration charges, switching charges, or discontinuance charges.
What are The Other Benefits of TATA AIA Smart Sampoorna Raksha?
The flexibility of partial withdrawal:
You can use the Partial Withdrawal option after the 5th policy term onwards.
A maximum of 4 withdrawals are permitted in a policy year.
The bare minimum transaction amount is Rs. 5000.
The Flexibility of Top-up:
If you have extra money, you may put in top-up premiums except for the last 5 years.
Top-up Sum Assured:
When you use a Top-up premium, your Sum Assured will be increased.
Settlement Option:
If the policyholder lives until the maturity date, then he can choose to receive the Maturity Benefit in a single amount or periodic installments during a five-year settlement term beginning on the Maturity Date.
The frequency might be annual, semi-annual, quarterly, or monthly.
Rider Option:
- Tata AIA Life Insurance-Linked Comprehensive Protection Rider (UIN: 110A032V02)
- Tata AIA Life Insurance-Linked Comprehensive Health Rider (UIN: 110A031V02)
Refund of 2 times Mortality Charges:
Beginning with the 11th policy year, two times the mortality costs deducted in the preceding ten years will be refunded together with the fund value.
Refund of 2 times Premium Allocation Charges:
After the 10, 11, 12, and 13 policy years, the premium allocation charge deducted for the previous ten years will be repaid.
Click below to calculate the premium of Tata Term Insurance policies
Term Insurance Premium Calculator
Observation:
Here you may think since they are offering 2 times refunds in Premium Allocation Charge and Mortality Charge, it is an additional benefit. But it can also be a marketing gimmick. Only if the policy provides a better net return because of these refunds, we can consider these benefits.
Grace Period:
TATA AIA Smart Sampoorna Raksha Plan offers a grace period of 30 days for annual, half-yearly, and quarterly modes of premium payment and 15 days for monthly mode premium payment.
Free look Period:
After purchasing the policy, if the policyholder is not satisfied with the terms and conditions of the insurance plan, then the policyholder can return the policy by stating the return within 15 days from the date of purchasing the policy.
The free look period will be 30 days if the policy is purchased through electronic mode.
Discontinuance of Premium:
Discontinuance of Premium within Five Years from the Date of Commencement (Discontinuance of the policy during the lock-in period):
After subtracting the appropriate discontinuance charges, the fund value is credited to the discontinued policy fund, and the risk cover and rider cover, if any, are terminated.
Revival of a discontinued policy during the lock-in period:
The policy will be resurrected, restoring the risk cover as well as the investments made in the segregated funds chosen by the policyholder, out of the terminated fund, less the relevant costs in line with the policy’s terms and conditions.
Surrender Value:
Discontinuance of Premium after Five Years from the Date of Commencement (Discontinuance of Policy after the lock-in-Period):
The policy will be changed into a lower paid-up policy with a guaranteed paid-up sum.
“Paid-up sum assured = basic sum assured * the
Total number of premiums paid / the number of premiums
Payable”
Here the policyholder can,
- Revive the policy within 3 years or
- Withdraw the policy completely
Revival of a discontinued policy after the lock-in period:
After the lock-in period, the company
- Shall claim all the unpaid premiums without charging any interest or fee
- A premium allocation charge is applicable.
- Will not charge any further charges.
Complete Withdrawal:
“During the lock-in period, the fund value less any applicable discontinuation costs as of the date of cessation is deposited to the ‘Discontinued Policy Fund.”
After the lock-in period, the fund value minus the fund manager’s charge is subject to a minimum guarantee of interest at 4% p.a. or as determined by IRDAI from time to time, which shall be paid to the policyholder.
After the Lock-in Period, the insurance bearer will be paid the whole fund value as of the date of final withdrawal.
For more details, you can read the TATA AIA Sampoorna Raksha Plan Brochure here.
Advantages of TATA AIA Smart Sampoorna Raksha Plan:
- Depending on your risk tolerance, you have the flexibility to choose from 11 funds ranging from equities to fixed income.
- Flexibility to pay a regular or limited premium for 5, 10, or 12 years
- A premium top-up option is available.
- Tax break according to appropriate tax legislation
- Partial withdrawal is permitted.
- There is a death benefit settlement option available.
- There is no premium redirection charge or partial withdrawal charge.
Disadvantages of TATA AIA Smart Sampoorna Raksha Plan:
- There is no loan facility.
- During the settlement term, the policyholder bears the investment risk in the investment portfolio.
- During the first five years of the contract, this product provides no liquidity.
- The policyholder will not be able to wholly or partially surrender or withdraw funds invested in linked insurance products until the end of the fifth year.
- There is no option to select the policy term.
Research Methodology:
Since we have all the information we need, now it’s time to analyze this TATA AIA Smart Sampoorna Raksha plan by calculating its IRR for the worst-case scenario and the best-case scenario by using the TATA AIA Smart Sampoorna Raksha plan online calculator.
Then let’s compare the IRR of the TATA AIA Smart Sampoorna Raksha plan with other investments to see which gives you a better return.
IRR of TATA AIA Smart Sampoorna Raksha plan: Example with an illustration:
Now let’s calculate the IRR for the worst-case scenario.
Here in the worst-case scenario, let’s take the assumed gross return as 4%.
Then,
| At 4% p.a | |||
| Age | Year | Annualised Premium/Maturity benefit | Death benefit |
| 36 | 1 | -50,000 | 10,00,000 |
| 37 | 2 | -50,000 | 10,00,000 |
| 38 | 3 | -50,000 | 10,00,000 |
| 39 | 4 | -50,000 | 10,00,000 |
| 40 | 5 | -50,000 | 10,00,000 |
| 41 | 6 | -50,000 | 10,00,000 |
| 42 | 7 | -50,000 | 10,00,000 |
| 43 | 8 | -50,000 | 10,00,000 |
| 44 | 9 | -50,000 | 10,00,000 |
| 45 | 10 | -50,000 | 10,00,000 |
| 46 | 11 | 0 | 10,00,000 |
| … | … | … | 10,00,000 |
| 75 | 40 | 0 | 10,00,000 |
| 41 | 9,03,428 | 10,00,000 | |
| IRR | 6.01% | ||
Here at the end of the policy term, TATA AIA Smart Sampoorna Raksha Plan gives you an IRR of 1.68% and Rs. 903428 as a maturity benefit.
Now, let’s see the IRR for the best-case scenario.
In the best-case scenario, let’s take the assumed gross return as 8%. Then,
| At 8% p.a | ||
| Age | Year | Annualized Premium/Maturity benefit |
| 36 | 1 | -50,000 |
| 37 | 2 | -50,000 |
| 38 | 3 | -50,000 |
| 39 | 4 | -50,000 |
| 40 | 5 | -50,000 |
| 41 | 6 | -50,000 |
| 42 | 7 | -50,000 |
| 43 | 8 | -50,000 |
| 44 | 9 | -50,000 |
| 45 | 10 | -50,000 |
| 46 | 11 | 0 |
| … | … | … |
| 75 | 40 | 0 |
| 41 | 40,22,575 | |
| IRR | 1.68% |
As per the TATA AIA Smart Sampoorna Raksha online calculator, at the end of the policy term, we get an IRR of 6.01% and Rs. 4022575 as a maturity benefit.
| Scenario | IRR (Internal Rate of Return) | Maturity Benefit in Lacs | Death Benefit in Lacs |
| Worst Case Scenario (4%) | 1.68% | Rs. 9 | Rs. 10 |
| Best Case Scenario (8%) | 6.01% | Rs. 40 | Rs. 10 |
The Internal Rate of Return in the worst-case scenario is very low. Compare to Savings Bank Accounts and Bank FDs, it gives a low return for a long-term investment.
In the best-case scenario, the IRR is comparable to Bank FDs and it does not help us to beat inflation. It is definitely not a good risk premium return,
So, to get more clarity let’s compare the plan with other investments and see the result.
TATA AIA Smart Sampoorna Raksha vs. Tata AIA Life Guaranteed Return Insurance Plan:
Tata AIA Life Insurance guaranteed return is an individual, Non-Linked, Non-Participating life Insurance Savings Plan. It has the option to refund 2 times Premium Allocation Fees in Policy Years 10, 11, 12, and 13
Click the below review to know more about this plan.
TATA AIA Smart Sampoorna Raksha Plan-ULIP Review (2023): Should you buy it or not?
TATA AIA Smart Sampoorna Raksha vs. Tata AIA Life Insurance Fortune Pro
The good thing about Tata AIA Fortune Pro is that it offers eleven different funds to invest in the premium. You can choose to invest in any number of funds among these eleven funds.
Click the below link to read the review of this plan
Tata AIA Life Insurance Fortune Pro Review—Should You Buy This ULIP?
TATA AIA Smart Sampoorna Raksha vs. TATA AIA Smart Sampoorna Raksha Supreme
You can get a whole life coverage of up to 100 years in TATA AIA Smart Sampoorna Raksha Supreme
A comprehensive view is necessary to compare the good and bad aspects of both plans to conclude.
To read the detailed review click below.
TATA AIA Smart Sampoorna Raksha Supreme
TATA AIA Smart Sampoorna Raksha vs. PPF + Term Insurance:
Overall contribution: Rs. 50000
Term Insurance contribution:
Annual Premium: Rs. 4500
Policy Term: 40 years
Sum Assured: Rs. 1000000
PPF Contribution: Rs. 45500
Since the lock-in period is 15 years in PPF, let’s invest Rs. 43000 for 9 years, Rs. 47000 for the 10th year, and Rs. 500 for the last 5 years.
Investment Return: 7.10%
| Term Insurance Premium + PPF | |||||
| Age | Year | Term Insurance Premium + PPF | Death benefit | ||
| 36 | 1 | -50,000 | 10,00,000 | ||
| 37 | 2 | -50,000 | 10,00,000 | ||
| 38 | 3 | -50,000 | 10,00,000 | ||
| 39 | 4 | -50,000 | 10,00,000 | ||
| 40 | 5 | -50,000 | 10,00,000 | ||
| 41 | 6 | -50,000 | 10,00,000 | ||
| 42 | 7 | -50,000 | 10,00,000 | ||
| 43 | 8 | -50,000 | 10,00,000 | ||
| 44 | 9 | -50,000 | 10,00,000 | ||
| 45 | 10 | -50,000 | 10,00,000 | ||
| 46 | 11 | 0 | 10,00,000 | ||
| … | … | … | 10,00,000 | ||
| 75 | 40 | 0 | 10,00,000 | ||
| 41 | 4.,88,179 | 10,00,000 | |||
| IRR | 6.06% | ||||
At the end of the maturity period, we get an IRR of 6.06% in PPF and Rs. 4088179 as investment return without taking any investment risk.
| Scenario | IRR (Internal Rate of Return) | Maturity Benefit in Rs. Lacs | Death Benefit in Rs. Lacs |
| Worst Case Scenario (4%) | 1.68% | 9 | 10 |
| Best Case Scenario (8%) | 6.01% | 40 | 10 |
| PPF | 6.06% | 40 | 10 |
TATA AIA Smart Sampoorna Raksha vs. ELSS + Term Insurance:
Overall contribution: Rs. 50000
Term Insurance contribution:
Annual Premium: Rs. 4500
Policy Term: 40 years
Sum Assured: Rs. 1000000
ELSS Contribution: Rs. 45500
Assumed Investment Return: 12% with investment risk
Then,
| Term Insurance Premium +ELSS | |||||
| Age | Year | Term Insurance Premium + ELSS | Death benefit | ||
| 36 | 1 | -50,000 | 10,00,000 | ||
| 37 | 2 | -50,000 | 10,00,000 | ||
| 38 | 3 | -50,000 | 10,00,000 | ||
| 39 | 4 | -50,000 | 10,00,000 | ||
| 40 | 5 | -50,000 | 10,00,000 | ||
| 41 | 6 | -50,000 | 10,00,000 | ||
| 42 | 7 | -50,000 | 10,00,000 | ||
| 43 | 8 | -50,000 | 10,00,000 | ||
| 44 | 9 | -50,000 | 10,00,000 | ||
| 45 | 10 | -50,000 | 10,00,000 | ||
| 46 | 11 | 0 | 10,00,000 | ||
| … | … | … | 10,00,000 | ||
| 75 | 40 | 0 | 10,00,000 | ||
| 41 | 2,41,68,899 | 10,00,000 | |||
| IRR | 11.39% | ||||
At the end of the maturity period, we get an IRR of 11.39% in ELSS investment after taking investment risk and Rs. 26792665 as investment return.
After adjusting to tax liability, we get Rs. 24168898 as the maturity value.
| Scenario | IRR (Internal Rate of Return) | Maturity Benefit in Rs. Lacs | Death Benefit in Rs. Lacs |
| Worst Case Scenario (4%) | 1.68% | 9 | 10 |
| Best Case Scenario (8%) | 6.01% | 40 | 10 |
| ELSS | 11.39% | 241 | 10 |
TATA AIA Smart Sampoorna Raksha Plan vs Other Investments: Comparison – Review
After a thorough analysis and comparison of calculated returns with other investment alternatives of the TATA AIA Smart Sampoorna Raksha Plan, it seems like ELSS & PPF are far better options with good fund performance.
We should not get carried away by the glitz of new plans in the market. But, compare and review it with other sound and proven investment plans.
Most of the time, after a comprehensive review, investment plans seem with a combination of term insurance + PPF+ ELSS to be better options.
Final Verdict on TATA AIA Smart Sampoorna Raksha Plan:
Compared to other investments, TATA AIA Smart Sampoorna Raksha Plan did not give an inflation-beating return.
So, if you don’t want to take any investment risk, then you can go for risk-free investments such as PPF, RBI Bonds, etc.
If you want to take investment risk to earn better maturity value, then you can choose an equity mutual fund with the help of financial planners.
As for the insurance plan, compared to ULIP, you can choose an individual insurance plan at a low cost with high life coverage.
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