Will Kotak Safe Investment Plan II get me any Tax Benefits?

Yes, you get tax benefits under Section 80C and Section 10(10D) of Income Tax Act, 1961. Tax benefits are subject to change in tax laws. You are advised to consult your tax advisor for details

What is the difference between Kotak Safe Investment plan II & Kotak Retirement Income Plan (Unit Linked)- Without Cover?

The Kotak Safe Investment Plan II gives you returns as a bulk amount. In a Kotak Retirement Income Plan (Unit-Linked) – Without Cover you can take upto 1/3rd of the total maturity amount in cash and the remaining has to be invested in annuity, which breaks up the total returns and periodically gives it to you in parts depending on your need.

I'm new to equities. Do you recommend short-term or long-term investments?

As you are new to equities, it is advisable to invest for the long-term. Even in long-term equities give attractive returns at the same time you don't run the risks of short-term market fluctuations.

How do I make a financial plan?

The first thing to do is to determine your goals and how much you'll need to cover those expenses. Then see how much you'll need to invest and which instruments will get you the best returns. Select a combination of various investment instruments depending upon how much risk you are willing to take. It is advisable to review the plan with a licensed financial adviser or broker.