Mutual Funds SIP with Insurance Facility - FundzBazar

 Why SIP Insurance?

1) Free Insurance Cover:  Get max up-to 120 times Free Group Life Insurance cover on your monthly SIP installment amount.

2) Long Term Growth:  Your money grows as per funds performance. Since you invest for long term, this works best in your favor.

3) Tax Saving: Enjoy tax benefit along insurance cover and investment growth in Tax Savings scheme.

Exclusively for FundzBazar Clients:

    FundzBazar Website :

         https://fundzbazar.com/Link/QFgG6BYrX-w

    FundzBazar Mobile Application :

          https://fundzbazar.com/Link/DNGrW_eSmFE

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 cover will be calculated on monthly SIP Instalment

• 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.

List of SIP Insured Schemes:

A) SBI Mutual Fund AMC Schemes: 

  1) SBI Retirement Benefit Fund - Aggressive Hybrid Plan

  2) SBI Retirement Benefit Fund - Aggressive Plan

  3) SBI Retirement Benefit Fund - Conservative Hybrid Plan

  4) SBI Retirement Benefit Fund - Conservative Plan

B) Axis Mutual Fund AMC Schemes:

5) Axis Retirement Savings Fund - Aggressive Plan

6) Axis Retirement Savings Fund - Conservative Plan

7) Axis Retirement Savings Fund - Dynamic Plan

C) Nippon India Mutual Fund AMC Schemes:

8) Nippon India Growth Fund 

9) Nippon India Balanced Advantage Fund

10) Nippon India Banking & Financial Services Fund

11) Nippon India Consumption Fund

12) Nippon India Equity Hybrid Fund

13) Nippon India Equity Savings Fund

14) Nippon India Focused Equity Fund

15) Nippon India Hybrid Bond Fund

16) Nippon India Large Cap Fund

17) Nippon India Multi Cap Fund

18) Nippon India Pharma Fund

19) Nippon India Power & Infra Fund

20) Nippon India Retirement Fund - Income Generation Scheme

21) Nippon India Small Cap Fund

22) Nippon India Tax Saver (ELSS) Fund 

23) Nippon India Value Fund

24) Nippon India Vision Fund

D) PGIM India Mutual Funds Schemes:

25) PGIM India Balanced Advantage Fund

26) PGIM India Emerging Markets Equity Fund

27) PGIM India Equity Savings Fund

28) PGIM India Flexi Cap Fund

29) PGIM India Global Equity Opportunities Fund 

30) PGIM India Hybrid Equity Fund

31) PGIM India Large Cap Fund

32) PGIM India Long Term Equity Fund

33) PGIM India Midcap Opportunities Fund

Your Financial Advisor,

S. Koundinya

9533791525

Prudent Corporate Advisory Services

ARN-134715

EUIN- E225283