Reliance MF SIP Plus Insure

Reliance MF revises offer document for 10 schemes

With a view to encourage individual investors to save and invest regularly through Systematic Investment Plan (SIP) and help the investors to achieve their financial objective, the Reliance mutual fund has been decided to provide an add-on feature of life insurance cover under a Group Term Insurance to individual investors opting for an add-on feature to be called as 'Reliance SIP Insure', without any extra cost to the investors, The cost of the insurance premia will be borne by the AMC.

The objective of 'Reliance SIP Insure' is that, in the unfortunate event of death of an investor before completing the opted SIP tenure, the balance amount towards the SIP installments remaining unpaid shall be made good from the life insurance cover and the nominee would be able to continue in the scheme without having to make any further contribution, so that investor's long term financial planning and objective of investing through SIP could still be fulfilled as per the targeted time horizon, even if he dies prematurely,

The 'Reliance SIP Insure' feature will be available under the following schemes /plans of Reliance Mutual Fund and will come into effect for SIP enrollments registered with effect from 12 May 2008;

1. Reliance Growth Fund - Retail Plan 
2. Reliance Vision Fund - Retail Plan
3. Reliance Equity Opportunities Fund - Retail Plan
4. Reliance Equity Fund - Retail Plan
5. Reliance Equity Advantage Fund- Retail Plan
6. Reliance Regular Savings Fund - Equity option
7. Reliance Regular Savings Fund - Balanced option
8. Reliance Banking Fund
9. Reliance Pharma Fund
10. Reliance Media & Entertainment Fund
11. Reliance Diversified Power Sector Fund - Retail Plan

Eligibility: All individual Investors enrolling for investments via SIP and opting for 'Reliance SIP Insure'
Only individual investors whose completed age at entry is greater than 20 years and less than 46 years.
In case of multiple holders in the any scheme, only the first unit holder will be eligible for the insurance cover.

Minimum Investment per installment: Rs.2000 per month. There is no upper limit

Minimum Period of Contribution: 3 years 3rd in multiples of 1 year thereafter,

Maximum Period of Contribution: 15 years OR till attaining 5S years of age, whichever is earlier (e.g., a person C3n register an SIP of maximum 10 yrs at the age of 45 yrs.) The insurance cover ceases when the investor becomes 55 years of age,

Amount of Life Insurance Cover Available: An amount equivalent to the aggregate balance of unpaid SIP installments, subject to a maximum of Rs.10 lakh per investor across all schemes / plans and folios, which will be invested in the Nominee's account, in the same scheme/s under which the deceased investor has enrolled for SIP at the applicable price based on the closing NAV on the date on which the cheque for insurance claim settlement is received by the AMC from the insurance company, subject to completion of requisite procedure for transmission of units in favour of the nominee.

Load Structure: The Entry-Load under Reliance SIP Insure shall be same as applicable to normal purchase /additional purchase transactions. However, there will an exit load of 2%, if the accumulated units acquired or allotted under Reliance SIP Insure are redeemed or switched out to another scheme before the maturity of SIP tenure as opted in the respective scheme either by the SIP-Insure unit holder or by the nominee, as the case may be.