A unit-linked pension plan is designed to help individuals build a retirement corpus through market-linked investments while maintaining life cover during the accumulation phase. It combines elements of insurance and long-term savings, making it suitable for structured retirement income planning. Understanding how a unit linked pension plan works can help individuals align their savings strategy with future income needs. What is a unit linked pension plan? A unit linked pension plan is a retirement-focused insurance product where part of the premium provides life cover and the remaining portion is invested in market-linked funds such as equity, debt, or balanced options. The value of the investment depends on the performance of selected funds. Over time, the accumulated amount forms a retirement corpus, which can later be used to generate regular income. Key features of unit linked pension plans A unit linked pension plan typically includes: Market-linked investment options Choice o...
Planning for a child’s future requires structured savings and long-term financial preparation. Child plans are insurance-based financial products designed to help parents build a dedicated corpus for education and other milestone goals. These plans combine savings with life cover, offering both financial accumulation and protection benefits. Understanding how child plans work helps in aligning them with specific future objectives. What are child plans? Child plans are life insurance policies structured to create a financial fund for a child’s future needs. Typically, the parent or guardian is the policyholder, and the child is the beneficiary. The plan usually includes: Life cover on the parent Savings or investment component Maturity benefits aligned with the child’s age The life cover ensures that if the insured parent passes away during the policy term, the policy continues and the child receives the intended benefits. How child plans support education goals One of the primary obj...