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SIP+ Insurance
Create wealth while you
enjoy free life cover
Invest NowWhy SIP Insurance?
Free Insurance Cover
Get max upto 120 times Free Group Life Insurance cover on your monthly SIP installment amount.
Long Term Growth
Your money grows as per funds performance. Since you invest for long term, this works best in your favor.
Tax Saving
Enjoy tax benefit along insurance cover and investment growth in Tax Savings scheme
What is SIP Insurance Facility
It is an optional facility of group life insurance cover provided free of cost by select AMCs to investors who invest via monthly SIPs in pre-defined schemes.This feature provides coverage against the uncertainties of life besides enabling investors to accumulate wealth.
Details of SIP Insurance facility
- Cost of Insurance cover will be completely borne by the Asset Management Company (AMC).
- Investors who fall under the age group of 18 to 51 years can avail the facility of free insurance cover.
- Insurance Coverage:
| Particular | Nippon | PGIM | SBI | Axis |
|---|---|---|---|---|
| 1st Year | 10 times | 20 times | 20 times | Nil |
| 2nd Year | 50 times | 75 times | 50 times | Remaining SIP instalments in months * Monthly SIP Amount |
| 3rd Year onwards | 120 times | 120 times | 100 times |
- Axis and SBI AMCs provide the insurance facility for their Retirement schemes only which has a lock-in period of 5 years or till retirement age whichever is earlier.
- Insurance cover will be available for Resident Individuals & NRIs in case of Nippon and SBI AMCs. While Axis and PGIM AMC’s insurance facility is available only for Resident Individuals.
- Only the First / Sole unit holder will be covered under the insurance.
- Minimum SIP tenure to avail SIP insurance facility is 3 years.
- In case of Axis, Nippon, PGIM and SBI AMCs, insurance cover will continue till the investor completes the age of 55 years.
- Maximum insurance cover across all eligible scheme of an AMC is maximum 50 lacs per investor. So, if one has SIPs in more than two schemes from the same AMC; the combined insurance cover cannot exceed Rs. 50 lakh.
- Any additional purchase made in folios with SIP Insurance facility, the same amount will not be considered for Insurance
- Nominee registered with Investor’s FundzBazar account, will be considered for nomination. Where no nomination is available, investor will be required to appoint nominee first and then proceed to register for SIP.
- In case of death of the applicant, his/her legal representatives/Nominee will have to file a claim directly with the Insurance Company supported by all relevant documents as required by the Insurer and the payment of the claim will be made to the legal representatives by the insurance company.
- Prudent/FundzBazar team will not play any role in claim processing.
- The insurance cover will cease in the following cases:
- Upon attaining the maximum age criteria
- At the end of the SIP tenure
- Redemption / switch-out (fully or partly) / STP / SWP of units purchased under the scheme in which SIP Insurance facility is availed
- Investor defaults in SIP installments. As the condition differs across AMCs, kindly read SID before investing.
Note - There will be no provision to revive the insurance cover in SIP Insurance facility, once discontinued.
This is just for information purpose and should not in any way be construed as any kind of promotion or endorsement of any insurance product. This information is only indicative, actual details may vary. For more detailed and applicable terms and conditions please refer below links of respective AMCs
Funds Offering SIP Insurance
Nippon SIP Insure
DETAIL INFO
PGIM Smart SIP
DETAIL INFO
Axis iPlus SIP
DETAIL INFO
SBI SIP Insure
DETAIL INFO
Head Office: Prudent House, Panjrapole Cross Road, Nr. Polytechnic, Ambawadi, Ahmedabad - 380 015, Gujarat, India.
- [email protected]
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Prudent Corporate Advisory Services Limited
AMFI Registered Mutual Fund Distributor
CIN: L91120GJ2003PLC042458
AMFI Reg No.: ARN-9992 (Date of initial Registration; 02 September 2003; Current validity of ARN -26 August 2025)| SEBI Stock Broker Reg.: INZ000293634 | SEBI Depository Reg.: IN DP CDSL: IN-DP-477-2020 | NSE Member Id: 90209| BSE Member Id: 6733 | SEBI Research Analyst Reg.: INH000018115 |SEBI Investment Advisor Reg.: INA000004906 | PFRDA POP Reg.: POP 10092018 | IRDA Corporate Agent Reg. No. CA0869
* Mutual Fund investments are subject to market risks. Please read all scheme related documents carefully before investing.
Prudent Corporate Advisory Services Ltd. (ARN-9992) makes no warranties or representations, express or implied, on products offered through FundzBazar.com. It accepts no liability for any damages or losses, however caused, in connection with the use of, or on the reliance of its product or related services. Terms and conditions of the website are applicable. Copyright © 2024 Prudent Corporate Advisory Services Ltd.
