Clubbing of income on ULIP

Hello Esteemed members,

I have come across multiple articles online which mention that if a husband transfers amount to a wife's account and if she subsequenty invests it in a PPF, then the maturity income is not clubbed in husband's income as PPF maturity amount is exempt from income tax.

Does this also apply to ULIP if I pay ULIP premiums for my wife under 2.5 Lakhs per annum?