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POSTED BY ON December 13, 2011 10:44 am COMMENTS (3)
I have a term insurance for 45,00,000 (45 L) provided by my employer. I have other general insurances and ULIP worth of about 10 Lakh rupees.
I have 2 children (Girl age 6 yrs and Boy age 3 yrs). I would like to secure their education and want to create some marriage fund for my daugter. I do have some investments in MFs (worth about 5 Lakh rs.). My present annual income is Rs. 12 LPA.
Q1) Can somebody advise me some good insurance funds with child plans
Q2) How are insurance plans with child plans are different from general Life Insurance plans. Who is the insurer and who is the proposer in child plans
Q3) Is insurance funds are better or Mutual Funds are better options for child plans.
Request you to provide your valuable advise.
Thanks, Vishal Rajput
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Dear Vishal, here are the answers for your query.
1. PPF in the name of child + HDFC Prudence
2. General insurance plans are to cover your health, house, car, accident, fire ……… Please do not confuse yourself with these. There are both types of child ins. plans from life insurance co. Where parent is the proposer only & child is the insured life & where parent is the proposer as well as life insured also.
3. MFs are better than Ins. funds.
Thanks
Ashal
go through this extensive discussion.
http://localhost/jagoforum2/child-plan-why-not/279/
If you just want a plan/fund with the name “children/marriage/education” etc, there is a very good combination plan of Fidelity MF. You can go through it.
Hi
I am directly answering ur third question.. Mutual Funds are better for any kind of Children Education Goals.
Go for Diversified Equity Funds OR Balanced Funds and start a SIP.. Keep it Simple…
Abhishek