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Reliance Capital to offer insurance cover on funds

Reliance Capital to offer insurance cover on funds
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First Published: Fri, May 09 2008. 11 12 AM IST
Updated: Fri, May 09 2008. 11 12 AM IST
Reuters
Mumbai: Indian mutual fund firm Reliance Capital Asset Management Ltd has decided offer life insurance cover investors opting for systematic investment plan (SIP) route in 11 of its funds.
Upon the pre-mature death of an investor opting for SIP of 3-15 years, the firm will pay the balance unpaid SIP installments subject to a maximum of Rs1 million, the asset manager said in a notice. The scheme will be effective 12 May.
SIP allows an investors to invest a fixed amount in a fund on a pre-decided date and periodicity.
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First Published: Fri, May 09 2008. 11 12 AM IST