Various Options

This is big responsibility for any India family to fund child’s education and marriage. And the way fees are rising it is becoming crucial to plan for the same. So various options are;

  1. Child Plan – LIC – traditional
  2. Child Plan – LIC – unit linked insurance plan – ULIP
  3. Child Plan – Mutual Fund (Fidelity, HDFC, ICICI Pru, Templeton…)
  4. Marriage Endowment Plan – LIC
  5. Marriage Plan – Mutual Fund
  6. RD – Recurring Deposit
  7. Equity-oriented Mutual Fund Scheme (Systematic route)

Opinion

  • It is always advisable to keep Insurance need and Child Planning separate
  • Before investing for Child future, make sure you have adequate Life Insurance – Term Plan
  • Equity-oriented Mutual Fund Scheme (Systematic route) is better option