Reliance SIP Insure facility

[sarwesh]

What is the Facility?
Reliance SIP Insure provides free life insurance cover to investors at no extra cost. In the unfortunate event of the demise of an investor during
the tenure of the SIP, the insurance company will pay for the balance amount towards the remaining unpaid SIP installments
Thus, the nominee* would be able to continue in the scheme without having to make any further contribution.. 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/she dies prematurely.

Reliance SIP Insure- Benefits to the investor
**The benefit of Long Term Equity Investment
Equities provide relatively better returns among all asset classes over a longer period of time
**The benefit of Systematic Investment Plan:
Inculcates Savings Habit
Rupee Cost Averaging & Eliminates the need to time the market
**Free Life Insurance Cover
Helps to complete the planned investments
Maturity Proceeds at NAV based prices
**Flexibility
Wide choice of eligible schemes
**Convenience
Auto Debit from 4 banks namely ICICI bank, HDFC bank, AXIS bank & HSBC
ECS facility across – 65 locations
*Nominee account would mean nominee in case of single holding & second or joint holder in case of Joint Holding

Designated Schemes in which Reliance SIP Insure will be offered
Reliance Growth Fund - Retail Plan
Reliance Vision Fund - Retail Plan
Reliance Equity Opportunities Fund - Retail Plan
Reliance Equity Fund - Retail Plan
Reliance Equity Advantage Fund- Retail Plan
Reliance Regular Savings Fund – Equity option
Reliance Regular Savings Fund – Balanced option
Reliance Banking Fund
Reliance Pharma Fund
Reliance Media & Entertainment Fund
Reliance Diversified Power Sector Fund – Retail Plan
Under Reliance SIP Insure, the investors are provided life insurance cover without any extra cost under a Group Term Insurance. In the unfortunate
event of the demise of an investor during the tenure of the SIP, the insurance company will pay for the balance amount towards the remaining unpaid SIP installments subject to a maximum of Rs 10 lakhs (across all designated schemes/plans and folios)and the same is invested in the chosen scheme subject to the following conditions;

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

Investment Details
Minimum Investment per installment: Rs.2000 per month & in multiples of Re 1 thereafter. There is no upper limit
Minimum Period of Contribution: 3 years and in multiples of 1 year thereafter.
Maximum Period of Contribution: 15 years OR till attaining 55 years of age, whichever is earlier (e.g., a person can register an SIP of maximum
10 yrs at the age of 45 yrs.) The insurance cover ceases when the investor attains 55 years of age.
Mode of payment of SIP installments is only through Direct Debit & ECS ( Post Dated Cheques shall not be accepted )

Amount of Life Insurance Cover Available:
An amount equivalent to the aggregate balance of unpaid SIP installments, subject to a maximum of Rs.10 lakhs per investor
across all schemes / plans and folios will be invested in the Nominee’s* account
This amount will be invested 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*.

Reliance SIP Insure – How does this work?
An investor does a monthly SIP of Rs. 10,000 for 5 years in Reliance Growth Fund
If he dies after a period of 3 yrs, then his Sum Assured= Unpaid SIP installments = 2 yrs (ie 24months) X 10, 000 = Rs 2, 40,000

This amount will be paid by life insurance company to SIP investor’s nominee account* with Reliance Mutual Fund and will be invested in Reliance Growth Fund (in the same scheme in which the deceased has earlier invested)

Commencement of Insurance Cover:
The Insurance cover shall commence after “waiting period” of 90 days from the commencement of SIP installments. However, the waiting period will not be applicable in respect of accidental deaths.
*Nominee account would mean nominee in case of single holding & second or joint holder in case of Joint Holding

Cessation of Insurance Cover:
The insurance cover shall cease upon occurrence of any of the following:
At the end of mandated Reliance SIP Insure tenure. i.e., upon completion of payment of all the monthly installments as registered.
Discontinuation SIP installments midway by the investor i.e., before completing the opted SIP tenure /installments.
Redemption / switch-out of units purchased under Reliance SIP Insure before completion the mandated SIP tenure / installments
In case of default in payment of two consecutive monthly SIP installments or four separate occasions of such defaults during the tenure of the
SIP duration chosen.
Note -There is no provision for revival of insurance cover, once the insurance cover ceases as stated above


Exclusions for Insurance cover
No insurance cover shall be admissible in respect of death of the SIP-Insure unitholder (the insured person) on account of -
Death due to suicide
Death within 90 days from the commencement of SIP installments except for death due to accident
Death due to pre-existing illness, disease(s) or accident which has occurred prior to the start of cover.

Load Structure
The Entry Load under Reliance SIP Insure shall be same as applicable to normal purchase /additional purchase transactions in the respective
designated schemes
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 unitholder or by the nominee*, as the case may be.
Note:
In the event of the death of the investor before completion of SIP Insure Tenure, in case of any contingency there is an option with the nominee*
to redeem the amount by paying an exit load of 2% on the repurchase units.
However, if the units are redeemed on completing the opted SIP tenure, there will not be any exit load in the respective scheme.
*Nominee account would mean nominee in case of single holding & second or joint holder in case of Joint Holding
The insurance cover for the above schemes is being arranged by the AMC through “Reliance Group Term Insurance Scheme” of Reliance Life Insurance Company Limited. The cost of the insurance premia shall be borne by the AMC.
Grant of insurance cover is discretionary on part of Life Insurance Company (as there is no pre-medical test) and the cover is subject to non-medical underwriting in the form of self-declaration of health by the insured person.

[JUIKITYTOOW]

Willkomen im Szuruburu00003

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Gold in the hands of the people is an enemy of the state.
I forgott, sorry i only human!

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