if we have to invest for child which one of the two is better for a sum of small amount .
2006-11-09 23:30:48 · 2 answers · asked by vandana m 1 in Business & Finance ➔ Insurance
Way too little to go on, but a ULIP is still life insurance, and it basically gives flexibility of premium payment. As far as investment goes, it really depends on your goals for the investment use itself. I would recommend an IRA if you're wanting tax consideration, and many offer penalty free withdrawl for things like education and 1st time home buyer.
Hope this helps
2006-11-11 06:28:51 · answer #1 · answered by mike w 4 · 0⤊ 0⤋
ULIP or any life insurance policy specially designed for childs will be better. ULIP is having stock market risk. It can make your net asset value lower as well as increas based on the stock market performance. It is better to go for fixed life insurance schemes, where you reap the promised benefit. There are no invest option present in general insurance. General insurance has coverage only against accidents with many exclusions under it and also it is not covering children below 6 months of age.
2006-11-10 02:39:39 · answer #2 · answered by Anonymous · 0⤊ 0⤋