It has been revealed that a major life insurance group has launched nine new unit-linked plans.

The reform is due to the group following recent changes in the overall charges of unit-linked policies.

The new range of products includes saving products, and child and pension plans. It also offers 14 new fund choices covering investment, retirement, savings and protection needs.

As per the new cover added by the regulator, all unit-linked products have a standard charge structure not exceeding 3 per cent for certain policies up to 10 year term and 2.25 per cent for over 10 year term. Within this, the fund management charges will be between 1 per cent - 1.35 per cent.

A spokesperson from the group commented said: “The new products are another positive step towards making [it] even more transparent and favourable for customers. With a cap on overall charges, the customers stand to benefit in the form of higher returns on their investment.”