How should I invest for my children's futures?

Q.

I am 30 years old with two young kids ages two and three. I have a salary of $150k all inclusive. I want to invest some money for my kids each year for when they are adults, about $3-5k pa. What is the most tax effective and profitable way to do this?

I prefer share based insurance bonds as there is nothing to declare on anybody's tax return each year and after 10 years or more they can be redeemed tax free. Your adviser will be able to help you choose an appropriate one.