For my son's higher education after 15 years shall I start BSLI vision star plan or invest same amount in BSL equity fund. Is it necessary to diversify the investment for children education to insurance plans, or MFs is enough for that?
1 Answers
Hi,
BSLI Vision Star Plan is a traditional, participating Money-Back Child insurance plan. Advisable to avoid investing in these kind of traditional plans.
Do you have adequate life insurance cover?
As you have a very long-time frame, you may consider equity mutual funds for this goal.
Kindly read :
https://www.relakhs.com/traditional-life-insurance-plan/
https://www.relakhs.com/term-insurance-plan-a-waste-of-money/
https://www.relakhs.com/financial-planning-pyramid-wealth-protection-accumulation-distribution/
https://www.relakhs.com/list-of-best-investment-options-schemes-in-india/
Thank you for your timely advice. I have a term insurance for 50 lakhs in ICICI Pru iProtect.
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