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Ask Value Research

Insurance cover with SIP

SIP insurance offers only a limited life insurance cover (it is linked to the SIP amount and the year in which the person dies) and it cannot be a substitute for an adequate life insurance cover

Research Desk

I want to know about mutual fund schemes that offer free insurance cover on the Systematic Investment Plan (SIP). What are the pros and cons? Which funds are five-star rated?
- Gokal Gajaria

You shouldn't pick a mutual fund house or a scheme only for the free life insurance cover. Always pick a scheme with a good long-term performance record. Also, remember that such SIP insurance offers only a limited life insurance cover (it is linked to the SIP amount and the year in which the person dies) and it cannot be a substitute for an adequate life insurance cover. Always buy a term insurance plan to buy a large life insurance cover to safeguard the interest of your financial dependents.

For more information, read: Insurance For Investment.

This article was originally published on December 14, 2015.

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