In ppf there is a limit 60000 per annum, on maturity the amount received is not liable for any estate duty. It carries the highest rate of interest. Investments on monthly basis can be made or once a year.
In ulip you must invest once a year. Returns vary as per the uti s profit declared from time to time.
PPF is a governmetn scheme and you can with draw 50 p.c. of your deposit after the completion of
5 financial year from the date of start.
In view of the above facts, ppf is is better.
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There is move to raise the minimum lock in period in ULIP schemes to 5 years. Insurance policies are for pure security purpose. One should definitely have PPF account and some share in direct equity as per risk taking apetite. If one is vary of participating in stock markets, it is best to have Gold ETFs atleast.