Where can we invest Rs. 3,000 per month? Should I invest that in some term plan like LIC Jeevan Anand or in systematic investment plans?

An insurance endowment policy may not be the best choice for long term growth. Costs are higher and returns lower, when compared to the returns of good mutual funds.

For added tax savings under Section 80C, ELSS mutual funds are advisable compared to endowment policies.

Do take adequate insurance cover by buying a pure term insurance policy.