Everyone has dreams; dreams to have your own home, dreams to provide the best education to your children, dreams of a comfortable retired life or dreams of achieving financial freedom. However, to make your dreams come true, you need money and in order to create your wealth portfolio, investment is a must.
When it comes to investments, investing in equity mutual fund via Systematic Investment Plans (SIPs) are given preference because they help in regular savings, diversify risks and have the potential to provide returns over the long term. That is the perfect way to save up for your dreams and wishes. But what if an unfortunate event puts a stop to your dreams?
Death is a reality which cannot be avoided. While SIP investments let you build a good corpus, they can fall short if investments stop due to an unfortunate event. What would you do to secure your dreams then? Can you make your dreams and realities co-exist?
Yes you can! If you are wondering how, the answer is simple – through Aditya Birla Sun Life’s Century SIP (CSIP). It is a facility which promises you a free insurance cover along with your SIP investments. Amazing, isn’t it? Let’s find out what this option is all about.
- Insurance cover and that too free of cost!
The first thing which would attract your interest to CSIP is that it promises you an insurance cover. The cover is 10 times your monthly CSIP amount in the first year of investment. Thereafter it increases to 50 times the CSIP amount and, in the third year, the cover becomes 100 times the CSIP amount subject to maximum cover of Rs 50 lacs per investor across all Schemes / plans / folios. Besides the insurance cover, the second benefit which is an icing on the cake is that the insurance cover is completely free of cost. The cost of providing you the insurance cover is borne by the AMC itself. No charges are deducted from your fund value for the insurance cover.
- Good level of coverage
It would supplement your existing insurance cover by providing ample coverage for your goals for which you have started the SIP investment. The CSIP allows you coverage up to a maximum of INR 50 lakhs. Sufficient, isn’t it? The story doesn’t end here. No medical check-ups are required to avail such high levels of coverage. Moreover, you would get the cover even if you discontinue the SIPs after three years of investments*.
- Easy eligibility requirements
Everyone can invest in CSIP scheme whether they are resident Indians or NRIs from eligible countries. You just need a minimum investment of INR 1,000 every month to start investing in the scheme. The entry age is 18 years to 51 years and you can continue enjoying the insurance cover up to 60 years of age. There is no entry load and the exit load also nullifies if you withdraw or redeem your investments after 3 years. Moreover, the exit load is waived in case of death of the investor when the nominee withdraws or redeems the investment.
- Enhanced death benefits
So you saw what benefits CSIP could provide you and its eligibility requirements. Now let’s see what it pays. In case of premature death, the scheme pays the nominee the fund value of your investments and the life cover promised under it. So, your family gets not only the return on your investments, but also a lump sum death benefit which can be used for their financial obligations.
In a nutshell
Aditya Birla Sun Life’s Century SIP is a unique facility which combines the benefits of life insurance and mutual fund investments in one. It is affordable, easy to buy and also aim to provide good benefits in terms of the insurance cover it grants. So, if you want your dreams and realities to coexist, you mayopt for this option while starting your SIPs. You can aim to create a good financial corpus for your family through the returns yielded by the mutual fund scheme in which you have started CSIP and in case of any unfortunate event; CSIP would give your family a lump sum benefit and make them financially independent. So, don’t let death put an end to your & your family’s dreams. Opt for CSIP option while doing your regular SIPs and secure your financial dreams even in the face of death.
*The insurance cover will continue even if you discontinue your CSIP investment after 3 years. The cover will then be equivalent to the fund value of units allotted at the beginning of that policy year, subject to a maximum of 100 times the monthly instalment.
Aditya Birla Sun Life Century SIP is a facility, in addition to the conventional SIP facility, offered under designated schemes which give the benefit of Life Insurance cover to the eligible investors. Life Insurance cover is subject to limits and other terms and conditions as specified for availing Century SIP, an optional, add-on, facility made available under designated schemes of Aditya Birla Sun Life Mutual Fund. This communication contains only few features of Century SIP. For further details and terms and conditions, investors are requested to refer to the Scheme Information Document of designated schemes or visit our website before availing Aditya Birla Sun Life Century SIP. Further, the Group Life Insurance cover will be governed by the terms, conditions & exclusions of the insurance policy with the relevant Insurance Company as determined by the Aditya Birla Sun Life AMC Ltd. (ABSLAMC). ABSLAMC reserves the right to modify/annul the said Group Insurance Cover on a prospective basis. Insurance is a subject matter of solicitation.
For further information on CSIP, please refer to the Scheme Information Document of the scheme.
Mutual fund investments are subject to market risks, read all scheme related documents carefully.