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Which is better - PPF vs LIC policy?

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. 

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