Balanced Funds are for those people who want to be little conservative. These funds have exposure to the extent of 65-70% in equity and balance in debt portion. In case any senior citizen is planning for a regular income, can invest in balanced funds with SWP option of 7-8% every month or quarter. Or else go for dividend option. HDFC Prudence fund has been giving every month dividend of 0.3 per unit for the last few months. So this will be a regular income. Dividend is not guaranteed as it depends on the fund house and their performance.