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Single premium plans for parents

If your parents are through with their financial obligations, they do not need a life insurance cover

I want to buy Single Premium plans for my father (57) and mother (59).
- Prateek Rustagi

If your parents are through with their financial obligations, they do not need a life insurance cover. Also, do not buy any insurance cum investment plans. These mixed policies are expensive, they provide a small life insurance cover and they also do not even provide inflation-beating returns.

If you are thinking of investing for your parents, you can consider investing in balanced funds, provided you do not need money for the next five years or more. If you have a lumpsum amount, you can consider investing in a blanced scheme in a staggered manner. You can either keep the money in a svaings account and invest in the blanced fund through a Systematic Investment Plan (SIP) or park the money in a liquid scheme and opt for a Systematic Transfer Plan (STP) to invest in the blanced scheme. You can choose one of these option as per your convenience.

Here is list of our best balanced funds.

You haven't proived any details about your parents or your investment objective, that is why we are offering you a general advice. If you have any specific query, you can write to us again.

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