I want to invest Rs. 3,000/- per month for my newborn child higher education. Is LIC Jeevan Anand is a good option or not?
First rule of investment, never combine insurance with investment. Second important point, the ideal insurance cover you must have is around 15-20 times of your yearly income. Is that possible with this plan? NO…
Hence, buy term insurance (whether from LIC or other insurers) and then invest in pure investment product than these dumb products.
This product neither fulfil your INSURANCE need nor GIVE YOU enough return to beat the education inflation. You can’t expect more than 7% from this product.