Funda of ULIP plans
1. Min investments for 12 - 15 years .
2. Go for monthly paying mode in maximum equity exposer
3. If your motive is life insurance (1st), investment & tax benefit.
4. Can't take out before 3 yrs.
5. Expert agent / advisor needed for proper switching to gain 58% p.a.

Funda for mutual fund
1. Term for 2 - 3 yrs.
2. Motive is only investment.
3. SIP is best way to invest / else when market is down 1500 points .
4. Can redeem after 1 year with 10% gain (without any exit load)
5. Proper market watch required