Finding right investment is like finding right bike/car(not best). People first need to know their priorities which will help them decide weightage they need to assign to each factor.
For most people maruti fits their criteria. They want an affordable, reliable, cheap to maintain car with great fuel efficiency. They are ready to compromise on safety, handling, build quality etc. I personally won't buy a maruti but it's alright. For those who have these specific priorities maruti is best. ( are those right priorities , now that's a different discussion).
But there are products which can never be the right product for any type of priorities. E.x mahindra MOJO, tvs Ronin, re hunter etc. Irrespective of what is your requirements, & what weightage you give to each requirements there are much better product available in the market: for some it is r15/rc 200, for some other it is rtr/ns 200, or dominar, or classic 350 or Himalayan 411. So no matter where you stand on the spectrum, there is no objective or subjective reason to buy a ronin/hunter.
Sadly ulip is the same case. As a stand alone instrument there is no reason to opt one. Irrespective of risk appetite, investment horizon, insurance requirements, lock in commitment, liquidity there are always better instruments. For some it might be fd or govt bond, corporate bond, mf, stock, real estate, gold, derivatives or even savings balance.