Reliance Mutual Fund launches Reliance SIP

CHENNAI: Reliance Mutual Fund on Friday launched Reliance SIP (Systematic Investment Plan) Insure - an add on feature of free life insurance cover ensuring that all planned investments are completed even in the event of unfortunate demise of an investor.
  
The advantage of the new Reliance SIP Insure is that free life insurance cover, the balance unpaid SIP instalments would be made good from the insurance cover, a company release here said.
   
"The add-on feature is with a view to encouraging individual investors to save and invest regularly through Systematic Investment Plan.There is growing awareness on the benefits of long term - Equity Investment as it provides relatively better returns among all asset classes over a longer period of time" Reliance Capital Asset Management Ltd Deputy CEO Sundeep Sikka said.
   
The nominee would be able to continue in the scheme (at an unfortunate death of an investor) without having to make further contribution to the scheme, so that the investor's long term financial planning and objective of investing through SIP is fulfilled as per the time horizon.
   
This way Reliance SIP Insure helps the registered SIP Investor's family to deal with the financial crisis and stay ahead of uncertainities, the release added.