Anand-If you bought term insurance to cover life risk to the tune of 15-20 times of your yearly income, then stay away from any insurance products. Now in that Rs.5,000, invest in one large cap fund like Franklin India Bluechip Fund-Growth for Rs.2,000. Another Rs.1,000 into small and mid cap fund like HDFC Midcap Opportunities Fund-Growth. Remaining Rs.2,000 must be in PPF. In this way, your money will-will be spread between equity and debt in ratio of 60:40.