Invest as well as get tax benefit from it!?

I am small investor, want to invest my savings and get tax benefit from it. My investment plan is of about 20 to 25 thousand. Can you advice me whetehr to go for insurence plan or ELSS? Investment plan is for minimum five years and would go further if profitable.

You must be insured well to take care of your family in your absense should a calamity take place.
Since your investmant is low (20-25k), its better to go for pure term plan (only life covered - no returns on maturity), and ELSS savings which could be growth option which re-invest the divident in itself.
SBI Magnum tax gain, or birla tax gain 96 are good schemes.
Metlife and Reliance insurance are cheapest options amongst all insurance providers, all companies are safe and reliable as they have to keep huge guarantee money with IRDA before entering in insurance field.

ULIP is very costly for you as you have only 5-6 year span of investment. ULIP is effective only if you have span of 10 years or more.

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