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satishsowreddy asked 10 years ago

Hi, i want to save Rs.6000 per month. My age is 30 yrs. Below are my present saving plan. 1. Rs. 3000 for my daughter (3yrs) in SSD account 2.Rs. 1000 for HDFC click to protect online term insurance 3. Rs.1000 in Axis long term equity fund (SIP) 4.Rs.1000 in Birla sunlife ELSS (SIP). Kindly guide me.

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Sreekanth Staff answered 10 years ago

Hi, 1 - Kindly go ahead and buy the Term plan with basic life cover. 2 - Suggest you to buy a stand-alone Personal accident cover and also a Family floater health insurance plan. Do not depend entirely on company provided group cover alone. 3 - Sukanya Scheme is a decent long-term savings option. 4 - Axis LTE is a good fund for long-term wealth accumulation + tax saving. Kindly go through below articles; http://www.relakhs.com/best-online-term-insurance-plans-india/ http://www.relakhs.com/best-personal-accident-insurance-policies-in-india-details-comparison/ http://www.relakhs.com/best-family-floater-health-insurance-plans-details-checklist-comparison/ http://www.relakhs.com/top-6-best-elss-tax-saving-mutual-funds-invest-2016/ http://www.relakhs.com/list-of-best-investment-options-schemes-in-india/

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Sreekanth Staff answered 10 years ago

Hi, 1 - Is it SSA scheme (Sukanya scheme)? How can I assist you? May I know your exact query? Kindly go through below articles; http://www.relakhs.com/calculate-kids-education-goal-amount/ http://www.relakhs.com/personal-financial-planning-articles-list/

satishsowreddy replied 10 years ago

Hi , yes it is sukanya account only. Intially i thought to take a LIC jeevan tarun policy for my child education and future.. But after some research just i want distrubute my savings as mentioned in the earlier. My doubt is whether my decision is correct or something else is better . With my current salary i can get Risk coverage upto 1 cr. In HDFC click to protect plan. Health insurance is not required as my company is providing that facility.Pl suggest accordingly.