I AM 33 YEARS OF AGE AND HAVING A 4PLUS YEARS GIRL CHILD. PLEASE RECOMMEND BEST TERM INSURANCE PLANS FOR 10 LACS RANGING 35 TO 50 YEARS REGULAR REGULAR PREMIUM PAYING TERM AND BEST CHILD EDUCATION AND MARRIAGE INSURANCE PLANS FOR 20 TO 25 YEARS PREMIUM PAYING TERM.
1 Answers
You must get Term insurance for yourself for atleast 10 times your annual salary plus all outstanding liabilities you have(like home loan, car loan etc.) to a maximum period available (atleast cover yourself for next 30 years).
You can get term insurance from LIC (Amulya Jeevan) or ICICI (Pru iProtect).
For child education and marriage needs you must invest regularly through SIPs in a mix of diversified equity mutual funds and debt funds.
Please don't invest in a insurance plan for generating good returns in future. Insurance is all about safety (which you already be getting from term insurance) whereas Investment is for returns (which equities will give better than any other thing in a long term of more than 10 years)
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