what is the best LIC policies for kids today?

should i buy LIC policy or i invest the same yearly premium in PPF, i have taken SIP,Mutual funds,ULIP but none of them is giving good returns, thus banking on LIC policies but agent is suggesting 1L premium for each kids(2 kids), is it advice able to go for 1L premium for LIC or PPF, please suggest. As per agent i will get 8 to 8.5 returns in 12,18 yrs which is same as PPF. Thanks