The following table provides the points of differences between the Public Provident Fund and Life Insurance Corporation Policy:
|
Basis |
PPF |
LIC |
|
Type of product |
Investment |
Insurance |
|
Lock-in period |
15 year lock-in period |
No such clause |
|
Risk |
Safest |
Safe |
|
Purpose |
Savings |
Risk protection |
|
Returns |
8% |
6%-8% |
As the above table clearly shows, PPF and LIC policy are entirely different products and ideally, investments and insurance are not sufficient alone, as both the products have different utilities and purposes.
