1/ Such a dumb I was!
In 2005, when my daughter born, I was out of country. A family friend insured my daughter by selling 18 Years Insurance Policy ~ "Komal Jeevan" with mere 2Lac assured sum.
Rs 7,256 Half Yearly Premium
2/ LIC agent told us that by 18 years your daughter would require money for education, mere 2 Lacs 🤦♂️even if I add bonus, how much she would get another lac extra?
We dont know, & agent never share that information ..
3/ The above is understandable but why insurance for my daughter? I was an earner & my daughter was/is dependent, Ideally I would had term insured not my daughter.
4/ Let's see if I would had SIP 7256 *2 in a multicap fund, what returns my daughter would have earned at the age of 18 years:
@ mere 12% she would have earned approx 10 Lacs
@ 16%, 16 Lacs wow!
Now I heard, some fund invested in US stocks has given nearly 18%
@ 18%, 21 Lac.
5/ My daughter would have admired me at 18 years, if I would had SIP a Multicap Fund instead of buying her an endowment insurance policy.
End
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