4 replies on this article “Children plan”

1. Ashal Jauhari says:

   January 30, 2013 at 5:04 am

   Dear Sarav, if you want to avail tax benefit also, the choice ‘ll be limited to PPF & Tax saver funds. Rest already discussed by dear Ramesh & dear BanyanFA, hence not repeating.

   Thanks

   Ashal

   Reply
2. BanyanFA says:

   January 29, 2013 at 4:30 pm

   Sarav,
   You can start your own Child Plan. On a high level you need to :
   1. take a term insurance, critical illness cover and medical insurance;
   2. Invest on a regular basis on instruments such as Mutual Funds / PPF
   3. Write clear instructions for your nominee / spouse to take specific actions in the event of death of the bread earner.
   4. How to invest the lumpsum proceeds in event of death to provide regular source of income for the child.
   You can get further guidance on the topic by reading http://insight.banyanfa.com/can-you-design-our-own-customised-child-investment-plan/

   Regards
   BanyanFA

   Reply
   1. Sarav says:

      January 30, 2013 at 1:16 pm

      Hi Banyan,

      I gotta question here. What is the difference between critical illness cover and medical insurance.
      If my company provides medical insurance for me and my family. Do i need to go for medical insurance again.

      Reply
3. Ramesh says:

   January 29, 2013 at 3:51 pm

   Start with either a conservative kind of equity fund (like Franklin Blue Chip / Franklin Prima Plus) or with an equity oriented balanced fund like HDFC Balanced, HDFC Prudence, FT Balanced.

   RD/FD/Bonds are not the best choices for >15 year investment horizons.

   Reply

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