To achieve the former, he will have to start an SIP of Rs 17,500 in an equity-oriented hybrid fund. He will also have to start an SIP of Rs 6,000 in a diversified equity fund. For the kids’ weddings in 15 and 17 years, he will need Rs 27.5 lakh and Rs 1.5 crore, respectively. In addition, he will have to start an SIP of Rs 5,000 in a diversified equity fund. He should buy a top-up plan of Rs 15 lakh with a deductible of Rs 5 lakh at Rs 833 a month.

Source: Economic Times June 10, 2019 00:56 UTC