user
Swapnil P. Ghagas

Question

Hello sir , i want to invest Rs. 1000-1500 P.M. for my new born baby, i want to suggestion .

  • Asked By: Swapnil P. Ghagas
  • On: 5th Jul 2012 10:50 AM
  • Answered Within: 1 Days
expert
MIC Expert

Answer

Dear Swapnil,

Starting with Rs 1000 to Rs 1500 on a monthly basis will actually help you accumulate quite a lumpsum amount for your child's future. However, in order to secure your child's future, you need to cover yourself with a Term Plan first.

You could opt for a child plan for the benefit of your child but which covers your life, so that if anything were to happen to you, your son's future would still be secured.

Some such plans you can consider are:

LIC Jeevan Ankur
LIC Marriage Endowment/ Education Annuity Plan
HDFC Standard Life insurance Children’s Plan

If you need a Money Back Plan only you could consider LIC Jeevan Anurag Plan, LIC Jeevan Chhaya Plan, ICICI Prudential Smart Kid Regular Premium Plan, etc.

  • Answered By: MIC Expert
  • On: 6th Jul 2012 10:59 AM

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