News From Press Free term life covers with SIPs proving costly for mutual funds

Free term life covers with SIPs proving costly for mutual funds

Surging premiums due to rising Covid-19 claims have forced fund houses to put the facility on hold for new investors

Source: ET Jul 28, 2021

Mutual funds offering free term life insurance along with investments in their schemes are having second thoughts about continuing with this facility as unexpectedly high claims in the wake of Covid-19 have made it unviable to extend this benefit. ICICI Prudential Mutual Fund and Aditya Birla Sun Life MF have put on hold this facility for investors making fresh investments through systematic investment plans.

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