Investment options for mother

Dear Javed, If your mother is not an earning individual, does not have any dependents and no financial liabilities, then life insurance cover is not required for her. In case, she does not have a health insurance cover, you can buy a mediclaim in her name. If she is totally dependent on you then you need to have adequate life insurance cover. You also have to maintain an emergency fund to meet any unforeseen expenses. If your objective is to accumulate corpus and investment horizon is around 10 years, you may consider options like balanced fund, large cap fund etc., You can keep nominee as your mother for these investments. Kindly read : https://www.relakhs.com/insurance-importance-life-health-accident-covers/ https://www.relakhs.com/best-online-term-insurance-plans-india/ https://www.relakhs.com/emergency-fund-importance/ https://www.relakhs.com/list-of-best-investment-options-schemes-in-india/ https://www.relakhs.com/best-balanced-mutual-fund-schemes-review/

Thanks for the reply sir, 1. I have taken 40 lac Term plan with accidental benefit rider from SBI Life Smart Shield.
2. I have family health insurance from my company.
3. I have already invested some amount in mutual funds as SIP.
4. What about NPS investment. Is it ok to open account for my mother? Kindly suggest..

Hi, Kindly do not depend entirely on company provided group health cover. Suggest you to buy a stand-alone health cover. https://www.relakhs.com/employer-based-health-insurance-plans-vs-individual/ I believe that NPS with its existing product structure and taxation, is not a great investment choice. Kindly read : https://www.relakhs.com/national-pension-scheme-nps-drawbacks/