It provides low premiums and huge risk cover

Insurance is not about profits..its abt protection..here one should look at the risk cover and not the profits..

The sum assured or the risk cover should be atleast 10 times the annual income of the person. Such high amount is only available thru term insurance and not thru ULIPs, unless you are have lots of free money.
If you are looking for profits.Then MFs are the best option

But I think its essential for all to have a term policy