Wealth Creation –
Systematic Investment Plans (SIP) as a mode of investment is known to create long term wealth for the investor.
Protection –
Century SIP offers its investors Life Insurance Cover of upto 100 times the SIP installment amount.
Life Insurance Cover
The Insurance cover available with Century SIP will be absolutely free for the investor. The cost of insurance will be entirely borne by the AMC.
100 times Insurance
In the unfortunate event of the demise of an investor during the tenure of the SIP, the nominee gets the Fund Value + Insurance Cover equivalent upto 100 times monthly SIP installments.
The insurance cover offered to the investor grows with the tenure of the SIP as shown below:
Year--------------------------------------Life Insurance Cover
1------------------------------------------Monthly SIP Installment x 10
2------------------------------------------Monthly SIP Installment x 50
3------------------------------------------Monthly SIP Installment x 100
4 onwards till end of tenure---------Monthly SIP Installment x 100
All the above mentioned limits are subject to maximum cover of Rs. 20 lacs per investor across all schemes/plans/folios.
No Paper Work
To avail of the life cover all an investor needs to do is enroll for a CSIP & sign a “Declaration of Good Health”. In case of unfortunate demise of investor the insurance claim will be directly paid to the nominee by the insurance company (Birla Sun Life Insurance Company).
Benefits to Family / Nominee
In the unfortunate event of the demise of an investor during the tenure of the SIP, the nominee gets the Fund Value + Insurance Cover equivalent upto 100 times monthly SIP installments. Also no exit load will be cahrged for redemption / switching out of units by the nominee.
Consider the following example:Assuming a scenario where in an investor had started a 10 year CSIP @ Rs. 20,000 pm installment and a rate of return @ 8%p.a. On completion of the CSIP tenure, value of investment and insurance cover would be Rs. 36.59 lakhs and Rs. 20 lakhs respectively
Consider the following example:Assuming a scenario where in an investor had started a 10 year CSIP @ Rs. 20,000 pm installment and a rate of return @ 8%p.a. On completion of the CSIP tenure, value of investment and insurance cover would be Rs. 36.59 lakhs and Rs. 20 lakhs respectively
A complet Presentation on Birla Century SIP
http://www.birlasunlife.com/BirlaSunLife/Mutual_Fund/SIP_Macro_Site/Images/Presentation_Sip.pdf
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