Should i invest my money in LIC money plus policy because i have heard that you have to invest Rs.10000 for 3yrs & after 20yrs you will get 16lakhs if not 16lakhs than what will be minimum amount i will get after maturity
You should take ICICI Prudential Life Insurance Company's ULIP Plan (Mutual Fund based). There you will get better returns alongwith Tax benefit and Insurance. Here you can pay only for three years and can take plan for number of years according to the age of child i.e. maturity will be between 18-25 years of age. If you want to pay for long, you can pay and if not then pay only for three years.
After three years you can withdraw, partly withdraw and can run the plan for a long way.
ICICI is the AAA rating company and have given returns 68% in the last year for
your deposits and average 38% for the last six years since inception. ICICI is
the number one private Insurance Company.