Investment for child

POSTED BY CP ON May 26, 2012 8:54 pm COMMENTS (10)

My young brother who was barely 29 passed away couple of months ago in an accident. He has left behind a 18 months old baby. His wife gave my parents an insurance policy (my brother’s), of which they are the nominees. It’s about INR 2 lakhs. My parents would like to invest it in a bond or something for my brother’s baby which can mature into a good sum when he’s eighteen.

I’m a working woman and want to contribute to that fund as and when I can.

What is the best thing I can do here? Thanks.

10 replies on this article “Investment for child”

  1. CP says:

    My father is planning to go to enquire to the two insurance companies (BA and Oriental) to follow up on my bro’s policies. However, we just realized that my bro’s age is printed wrongly on his death certificate. Instead of 28 years, it’s printed as 38. I don’t know how my father is going to rectify this problem.

    It’s 3 months exactly since my bro passed. Is it too late to go to the insurance companies with the policies now? We got the policy document only over a week ago when his apartment was being cleaned. He hadn’t mentioned about these two policies to my parents. Rip my sweet little brother.

    1. Dear CP, first of all ask you father to rectify that age on death certificate. Then only think of filing claim, else due to that wrong age, claim ‘ll be rejected or may de delayed.



  2. CP says:

    Hm I see. Thanks Ashal

  3. CP says:

    My mother is nominee of one policy; she is not in India at the moment and is abroad. She will return only at the end of July.

    Can my father sign on her behalf? What’s your opinion ?

    1. Dear CP, technically nominee should file the claim. In the given scenario, as your mother is out of india & the insurer in question is same, your father may file claim for both policies. Yes the claim amount for mother’s nominated policy ‘ll be paid to her only as & when the claim is accepted by the insurer.



  4. CP says:

    Ashal: they are two policies , one’s nominee is my mother, another’s is my father. Both from Bajajallianz

    Vignesh, thanks

    1. Dear CP, no matter it’s one policy or 2. Please file the claim right now. For both policies, your father or mother or even you can file claim. Please take sign of the nominee for the respective policy.



  5. Dear CP, first of all please file a claim in that insurance policy if not filed already. From your query, it seems that it was an investment oriented policy, so the claim amount ‘ll be more than the sum assured which is 2L Rs. Once money is there, please visit the forum again.




    To add up to my above reply..

    1. if you are a very conservative go for the balanced fund such as HDFC prudence , HDFC balanced.

    Balanced funds which will invest in both Equity and Debt(which will take care of your parents wishes also)

    Regarding the balanced funds


    1. If you need this money only at 18 you can go and invest in a good diversified Fund such as

    HDFC TOP 200. and Quantum long term Equity. each 1 lakh

    for investing a lumpsum amount you can use the systematic transfer plan.

    To know abt STP

    If you have any intermediate goals to achieve u can see for some fixed income instruments such as FD.


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