Should I invest a lumpsum in DAB?

I am new to mutual funds. My SBI manager says to invest a lumpsum amount to DAB (no idea what that is). What do I do? I have an SIP in SBI Bluechip Fund. Can you give me a link to help me understand more about mutual funds in a layman language.
--Dr Priyanka

We believe your bank manager is trying to sell you some insurance policy. Our guess is that he is talking about double accident benefit. Accident benefit often comes as a rider with life insurance policies. The cover pays double the sum assured if the policyholder dies in an accident.

Our advice to you would be to hire a financial planner/investment consultant/mutual fund advisor in your neighbourhood or through reference from friends and colleagues. Do not buy investment products recommended by bank officials, as they mostly push insurance products with investment element in them.


Keep your insurance and investment needs separate. Buy a pure term insurance plan to secure an adequate life insurance cover if you have financial dependents. Always invest in mutual funds to achieve your financial goals in life. Invest in debt funds to achieve short-term goals, and in equity schemes to achieve long-term goals.

You can visit our learn section to brush up your basics (Fund basics)
Get to know your equity mutual funds better
Know your debt mutual fund schemes better
Our recommended equity mutual fund SIP portfolios (Best mutual funds to invest in 2017)