You are a Financial Planner. Your client Ashwin Aswani aged 37 years and works with an IT company earning Rs 15 lakhs per year. His wife Asha, aged 34 years, is a homemaker. They have one daughter Rimmi aged 5 years. The couple requires your help to make some fmancial decisions. (You can make any assumptions to further build up your case.)

a. Ashwin wants to buy a Pure Risk Life Insurance cover of Rs 1.5 crore. He is confused whether he should buy a ULIP a Term Plan. Recommend the product best suited for his requirement.

b. Ashwin has expressed his desire to retire by the age of 55. Design a retirement plan for him