I am 34 yrs mother of the 2yrs old male child. Please tell best investment plan for my child’s future- higher studies. I was planning to invest on Bajaj Allianz future gain WOP, In ur blog, your have mentioned it’s not ideal.
Avoid products which are claimed to be made for child future (whether they are ULIPs or Endowment Child Plans). Stick to debt and equity asset allocation for 30:70. Start investing in Ultra Short Term Debt Fund and one large cap mutual fund along with one mid cap fund.
Suggest you to buy term life insurance of your own selected insurance company to the tune of around 15-20 times of your yearly income (if you are not working woman, then in your husband’s name).
Avoid such junks like Bajaj ULIPs or any ULIPs and Endowment Child Plans.
You can invest in systematic investment plans to plan for your future. It allows you to invest a fixed amount of money in mutual funds regularly. It is a simple, convenient and a disciplined way to reach your financial goals.
Dilshan-SIP is the way of investment but NOT A PRODUCT. If you invest in RD, then also it may be called as SIP and same way if you create monthly same amount of FD, then also it is called a SIP.