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FAQ: Insurance Cum Investment Plan (2)

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What are Insurance cum Investment Plans?

Insurance cum Investment Plans are life insurance plans that provide a small amount of life insurance cover and invest the rest of the premiums to give a return in single digits.

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Should parents invest in LIC Amritbaal policy for their children?

The LIC Amritbaal policy is not a good plan. This plan insures the life of the child which is not needed and the return offered is a poor 5.56%-6.22%. PPF, Sukanya Samridhhi, and mutual funds offer better returns. Instead of the child, parents should insure themselves via a term plan.

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