Require Suggestion for my daughter Education ?

POSTED BY amol_power ON November 13, 2013 5:15 pm COMMENTS (15)

Dear Sir,

I want to invest INR 10,000/- per year for my daughter education or her further plan & now she is 3.9 year old.

Any suggestion for any good LIC policy.



15 replies on this article “Require Suggestion for my daughter Education ?”

  1. rajkanwar321 says:

    Dear Ashal, I agree it wont be sufficient – but you can’t predict the future. It is better to have some rather than none.

    Best Regards,


  2. ashalanshu says:

    Dear Rajkanwar, I’m asking for enough life cover. For example you are covered for 15L Rs. but your actual requirement is 75L Rs. Should you be happy with this 15L cover? Please think over it.



  3. rajkanwar321 says:

    Dear Ashal,

    I have taken BSLI Dream Child Plan and I am pretty happy with it.



  4. ashalanshu says:

    Dear Rajkanwar, are you having enough insurancce from this combo product?



  5. ashalanshu says:

    Dear Amol, before you secure your d’ter’s future education, let me ask a blunt question. what ‘ll happen to your whole planning if you die today>



    1. rajkanwar321 says:

      Dear Ashalanshu that was a very harsh question. If that would be the case then I would suggest you to go for a joint life cover for you and your child as I have taken one from Birla Sun Life Child Plan. They offered me 2 plans, both covers joint life cover for me and my child, however one offers freedom to choose how my money will be invested to fulfil my child’s dreams and the other offers guaranteed amount as per requirement. For more information you can check here –

      @Amol – You are always welcome to check other plans and competitive quotes from other financial institution. Best of luck.

  6. Anand says:

    Do not go to any LIC agent. You will fall in their trap. They will calmly say that 10% returns are guaranteed, which nobody can give. I am yet to meet an honest LIC agent.

  7. amol_power says:

    This site is awesomeeeee & we get help from people heart
    Thanks for all …………

    1. Ashish Garg says:

      Hi Amol,

      I suggest you do an SIP for about 2-3 years initially in a good tax saving fund, be it Franklin Taxshield or any other fund that you choose after your research and understanding. In these 3-4 years track the performance of the fund, if it is doing good, extend the SIP else move to another fund. Basically idea here is not to blindly do an SIP in one fund for 16-17 years but to keep a track and invest wisely so that you get expected returns.



  8. Ashish Garg says:

    Hi Amol,

    If you are looking at 80C benefit and returns, suggest you look at SIP of Rs.1000 per month in a good tax saving mutual fund. Else look at PPF.

    LIC or any insurance plan named as Child Plan may not help you much in terms of returns.


    Ashish Garg

    1. amol_power says:

      Thanks Ton …

      as advised SIP of rs. 1000 per month it means
      1000 x 204 Months = INR 204000/- (investment for 17 Year)

      pls advise if any good SIP plan for as per above calculation for good returns.

      And one time thanks for prompt reply

      1. Karthik says:

        Setup a SIP in Franklin Tax Shield

  9. Sumit says:

    OK Amol,

    Read the points below:-

    1) tax benefit under 80C is not a concern – PPF, 5 & 10 year FD, or Equity Linked mutual funds and there are other investment products as well to get you 80C tax benefit.

    2) If insurance is not your concern then DO NOT go for LIC. All LIC plans generate around 6%-7% annualized return – which is not even beating India’s current inflation. I am not aware about “Jivan Ankur plan you are talking about, but the return will be nearly same, I guess. So, better you talk to a LIC agent – ask for proper evidence of the estimated return. Also dont blindly believe any LIC agent’s words – please properly verify in their website and also from other agents. – I did the same mistakes few years back and then corrected soon once realized. 🙂

    3) Child’s education is 15 years away, so you can invest in PPF – if you are conservative type and do not want to take any risk at all. Know interest rate, tax aspects etc about PPF in below:-

    4) For such a long period of 15 years – equity is bound to provide better returns than fixed income products. So, you can invest in ELSS (Equity Linked Saving Scheme) funds.
    5) Or you can invest 50% in PPF and 50% mutual funds, to keep a banaced approach.

    6) Also you can accumulate small amount of gold regularly for your daughter’s marriage, to reduce the burden of buying all in 1 go.


  10. amol_power says:

    I want Investment plan for education or further plans for my daughter & same i expected tax benefit under 80C.

    I saw TV add from LIC like children plan “Jivan Ankur ” and that why I mention LIC name.


  11. Sumit says:

    Wrong Question to ask, why you want LIC policy for daughter education or further plans?

    LIC is an insurance cum investment product – make yourself clear that will you need insurance or investment?


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