MF News
Seven more Reliance schemes to provide insurance via SIPs
Seven more Reliance schemes to provide insurance via SIPs
Reliance Mutual Fund has decided to increase the number of schemes to offer SIP insurance
jayshree Jul 12, 2011
Reliance Mutual Fund has decided to increase the number of schemes to offer SIP insurance.
Reliance MF has increased the number of schemes that would fall under the SIP insure feature from 10 to 17. This facility has been extended to schemes such as Reliance Long Term Equity Fund, Reliance Infrastructure Fund and Reliance Small Cap Fund.
The ‘SIP insure’ launched in 2008 is a feature that provides life insurance cover under group term insurance to individual investors. It combines equity investments with life insurance cover at no extra cost. In case of premature demise of a unit holder, an amount equivalent to the aggregate balance of unpaid SIP installments up to Rs 10 lakhs per investor will be invested in the nominee’s account.
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