project report on LIC

Says Bert Paterson, managing director, Aviva India: “In the last 20-25 years, traditional products have taken a back seat in the developed markets. Now more than 80%-90% of people invest in unit-linked products for both pensions and life insurance.”

This, however, is not the case with India. Here, the majority of people still rely on the traditional pension schemes such as PF and post office plans. But taking a cue from the developed world, new age insurance companies have introduced a whole range of unit-linked pension plans in the Indian market too, with their number growing by the day.

Aviva India’s PensionPlus, ICICI Prudential’s LifeLink Super Pension and LifeTime Super Pension, TaTa AIG’s InvestAssure Gold, SBI Life’s Horizon II Pension and Reliance Golden Years Plan are some of them.

Furthermore, as the insurance companies providing these plans have increased manifold, there are more product choices before investors than ever before.

“Even within the ULIPs, investors have choices in terms of varying their exposure to the equity markets by choosing an aggressive or dominant pension fund,” says Ashish Kapur, CEO, Invest Shoppe India Ltd, adding that for instance, an aggressive pension scheme would invest up to 60% in