Not everybody is assured of a pension from an employer, and even if there is a pension, it may not be adequate to meet all the needs in retirement. The corpus built out of savings in the working years is, therefore, invested to create an income stream to meet expenses in retirement. This income needs to last through the retirement years, be stable and adequate to meet expenses and counter the impact of inflation on expenses. But such expectations from retirement income are inherently contradictory to each other, and no one source of income can meet all of them.
India's wealthy opt for term insurance policies worth Rs 5-20 crore: Report
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