which is the best insurance plan for 26yrs of age?

Iam 26 yrs old, married and have a 6 months baby girl, need advise for best insurance for future needs like studying and marriage. now i can save 4k-5k per month..i want to get a good amount of 25 lacs after 15 or 20 yrs. So which term plan will be the best plan to invest.please advise…

2 Replies to “which is the best insurance plan for 26yrs of age?”

  1. Insurance is an expense, not an avenue for investment. Go for Pure Term Cover. In a term plan , there is no maturity value. Visit Aegon Religare website and calculate the premium your self. For a 30 year term , 25 lakhs policy will cost you Rs 5239 annually. Have a look at their increasing cover policy , critical illness riders & their online policy. ( it is the cheapest)

    For your child , go for a combination of PPF & SIP in Mutual Funds. Visit Valueresearchonline.com to understand mutual funds.

  2. Hi
    In actual sense, Life Insurance is for present.. it covers the present risk of one living too short and that could make family suffer drastically So insurance gives the family of the bread earner the financial support if the bread earned is no more.

    Bottom line is Investment is for future and not life insurance. Never mix these two and buy a single product.

    Go for only term plan

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