Reliance Mutual Fund on Tuesday unveiled the Reliance Strategic Investment Plan (SIP) a unique life insurance plan, which ensures that all planned investments are completed event in the case of an untimely demise of the investor.
The facility is currently provided in 10 select equity schemes of Reliance Mutual Fund.
Reliance MF expects 80% growth in asset base this fiscal
"The advantage of Reliance SIP Insure–free life insurance cover is that in the event of death of an investor, the balance unpaid SIP installments will be made good from the insurance cover," said Vibrant Gugnani, CEO Reliance Capital Asset Management Ltd.
Once there, the nominee will be able to continue in the scheme without having to make further contribution to the scheme, so that the investors long term financial planning and objective of investing through SIP is fulfilled as per the targeted time horizon.
"In addition to helping investors organise their process of investing, this scheme helps in rupee cost averaging, wherein one need not worry about when and how much to invest. A fixed sum of money can be invested regularly and over time it averages out the costs," said Gugnani.
The company is however planning to reach the investors with the assistance of 8,372 distributors in the western region, of which 1,330 are present in Pune alone. In the western region, Reliance Mutual Fund has its presence in the 16 cities in various states.
Source: DNA MONEY
Thursday, July 17, 2008
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