This Question is raised by most of the Grand parents to me. Being a Grand Parent and leading a relaxed & retired life, often they wanted to do some thing for their Grand Children. For their entire life, they have struggled hard and did every possible thing for their children, now its the turn of the Grand Children to reap the benefit..

While Discussing with them, a broad idea about their thought process is mentioned below in point format.

1. Want to Gift some thing to Grand Children.
2. It should be in Monetary terms.
3. They should receive it when they are 18 Plus.
4. The gift should not be a temporary relief.
5. The Gift should be permanent may be life long.
6. No matter what the amount is but it should be continuous.
7. The gift should make them remember their grand parents

When I see and consider all the above points, the only option which comes to my mind is the Jeevan Utsav Plan of LIC of India.

Utsav is like an ATM card given to the Grand Children, after attaining 18 years of their age.

They can withdraw any amount ( check the sheet calculation for exact amount from your agent).

They can withdraw any time they want and that too regularly… every year when ever they require any amount.

The amount withdrawn is tax free

The amount can be withdrawn “n” number of times..

its like a “Gufa of Alibaba”… It will never become empty.

Just Try it, its the best Gift any Grand parent can give it to their Children.