LIC policy

You dont choose LIC Policy. LIC chooses you. Its a matrix which you will not escape.

Your father’s friend will find you.

You, considering an investment based policy... Tells that you are not aware of how avg returns these investment policies give.

You should at least YouTube this and get some knowledge.

Don't mix insurance and investment. Buy term insurance and look into Equity, Debt, Gold etc. For investments based on risk. Longer the horizon more allocation to equity.

The only things you need

1. Term Insurance (10 to 15x annual Income depends on insurance company)
2. Comprehensive Health Insurance (10 Lakh Base + 90 Lakh Super top up minimum)
3. 6 to 12 months of expenses as emergency fund.
4. Mutual Funds Parag parikh mutual fund is one of the best ogo for the direct plan or any index fund if you are not sure.

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i bought smart wealth builder at 22...check those out

Don't see insurance as investment, first priority while buying an insurance should be that you or your family gets the money whenever needed

Even my father's friend got me into LIC policy for "investments". When I realised how bad it was, I cancelled it

Keep insurance and investments separate. Go with a term insurance; at your age you can lock in a really low premium.

Go for equity mutual funds/PPF/Stocks for investment.

No it's not . Avoid ulips

No, it doesn't have competitive returns, you need to keep investing every year and your money is locked till the term completes. Instead invest in some good low risk decent return MF.