2 Replies to “My son is 8 months old for his needs to plan save money can you plz tell me the SBI Unit plus Child plan?”

  1. friend! i always stand against ulips. please have a look at administrative charges cut from you premium. you will surely go mad. since you have a long term horizon, i would suggest you to go for well-rated/good history two/three diversified equity funds (sip may be good for you, if you are ready to invest some time you may go for value -cost averaging technique as well). if you tell me that you want the debt portion to be invested also as in ur ulip, i would suggest you for equity-oriented hybrid mutual funds if you are in higher tax bracket, else go for diversified equity funds + bank fd combo.
    Also, i would advise you to open an ppf a/c in ur child’s name, not ur name and put some money into it. if ur child when grows up falls into higher tax bracket, he will be able to enjoy 5 yr of lock-in in ppf investment. if u r not in higher tax bracket, do not put much money into the said ppf. remember that ppf gives a return of 8% tax-free.
    hope u look into the administrative charges cut from you premium in any ulip and then read this long paragraph.

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