Tuesday, August 19, 2008

Enhanced features of Reliance SIP Insure !

Reliance Mutual Fund has made the following major changes to the existing SIP Insure Scheme.

1) The Insurance from third year onwards is Double your Target Amount. ( If your SIP is Rs 2500 per month for 15 years your target amount is Rs. 4,50,000. The insurance cover will be twice that amount of Rs. 9,00,000 which is same as 360 times your monthly SIP).

2) The minimum investment amount per month is now Rs. 1000 rather then Rs. 2000 earlier.

3) Following scheme has also been added under the SIP Insure.
  • Reliance Diversified Power Sector Fund – Retail Plan
  • Reliance Natural Resources Fund
  • Reliance Quant Plus Fund – Retail Plan
  • Reliance Tax Saver (ELSS) Fund
The maximum Insurance cover remains at Rs. 10,00,000

NOTE: It's a very Positive move by Reliance Mutual Fund for the long term investors. If they can also add Health Insurance also to this package then it can be an all inclusive plan for small investors.

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