Traditional Plans: A Good Bet!

The below article is from Business Standard regarding Traditional Plans. There is always an argument against traditional plans saying returns are not competitive. Yes I would partly agree with the same - returns will not be as exuberant as against a Term plan + Mutual Funds combination. But unfortunately, where is the discipline factor - Do we have the courage to stay in mutual funds (if not invest more) when the markets are sinking (or) do we have the stillness to stay invested when the markets are rising, saying I have invested only for long-term & hence wouldn't care if the markets go up & up. Either case, the answer is a NO. Then why crib about better returns. A traditional product from Insurance does not offer you superficial returns but then at least a discipline is there - most of us would not discontinue an insurance plan (both on psychological grounds & also because you will attract a huge penalty if you foreclose the same). So the plan for our long-term goals will remain long-term even though the returns are modest. Should I again repeat the good old proverb - "Something is always better than nothing".