which is better for retirement planning- SIP or ULIP?

I recommend SIP considering the return percentage on your investment is higher.

depends on risk tolerance. Some people want the monthly annuity check that is purchased and provided with the insurance policies. They are willing to pay the higher fees to be able to sleep at night. Others are more risk tolerant and want to be able to invest how they see fit and can be a little more structured and take out their own distributions….they have no need for the annuity and thus the lower cost mutual fund approach is better.