September 11, 2012 6:25 pm
A good option was Senior Citizen Saving Scheme , but he is not eligible for that. I can only think of a simple FD for next 2 yrs with monthly interest payout , or as suggested by Anand
you can invest in LIC Jeevan Akshay VI,
It is an Immediate Annuity plan, which can be purchased by paying a lump sum amount. The plan provides for annuity payments of a stated amount throughout the life time of the annuitant. Various options are available for the type and mode of payment of annuities.
Best option in that plan is –
Annuity for life with return of purchase price on death of the annuitant
Fidelity Cash Fund – Retail Plan – Monthly Dividend Option
No entry load. No exit load. No TDS. No risk.
What is the monthly requirement of your father?
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