Dear Sir,
You are doing an excellent work of advising and educating common people regarding the investment and policies. My query is, I am planning to buy LIC Endowment plan – 817 for my child (age 1 year) with single premium of Rs. 4.2 lacs which will return me around Rs. 16 lacs on maturity of 25 years.
Is this a right plan for my child to gift in long term or any other plans can superimpose this return? I am not a savvy in investment and tracking stocks etc and I have few other policies wherein I have to pay around 1 lac per year therefore I am willing to go for a single premium.
Could you please suggest me whether to go for this LIC Endowment plan or not?
Thank you,
Regards,
Yogesh