IMO

To count anything as a proper investment, their current annual returns should be more than 5%. Anything below and you are not working your money enough. Fact is.. our current inflation is around that level so if you don't make at least 5% your real value of your money will shrink.

Therefore insurance are not proper investment tools, they are just risk management tools. Even if insurance does give you above that, there is usually a catch, it may be because there is some risk involved and you should demand a higher return anyway.

FD, well.. you are losing money just leaving it there...

Mutual funds, well if you accoutn for entering and exitting fees, managing fees, inflation.. If it doesn't make more than 7% per annum averagely.. I wouldn't think about it.