Life insurance plans can be a powerful and effective addition in retirement planning
The fund has a lock-in period of minimum five years or till retirement age, whichever is earlier.
An increase of even 1% in inflation would imply that monthly expenses would easily cross Rs 1 lakh.
Ideally you should keep insurance and pension separate
For part paying your loan, it would be better to use the funds that you have allocated for the short-to-medium term
Pension plans lead to long-term wealth creation and encourage dedicated saving for the retirement years
You can initiate an STP in any good performing fund from out Stellar List of funds
You have invested in a good balanced fund which has a proven track record and performance history to go by
Funds like Franklin India High Growth or SBI Magnum Multicap and ICICI Pru Focused Bluechip are good to invest in