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(DPAM) offers Life Insurance cover without any waiting period on Mutual Fund SIP

DHFL Pramerica Asset Managers (DPAM) offers Life Insurance cover to its SIP investors at no extra charge (i.e. free of cost). The free Life Insurance cover does not have any waiting period and would encourage SIP investors to opt for a longer tenor to not only help create steady wealth over a longer term, but also protect the financial future of the nominee, in an unfortunate event.

DHFL Pramerica Smart SIP thus provides you an investment + insurance facility with nominee getting the benefit of highest multiplier of 20 times the monthly SIP amount for the first year, 75 times the monthly SIP in the second year and 120 times the monthly SIP in the third year with maximum assured subject to a limit of INR 50 lakhs.

Investors aged between 18-51 years are eligible to opt for Smart SIP provided they sign up for a Smart SIP into any of the DPAM Schemes for a tenure of above three years.

Key benefits

·         No waiting period for insurance cover

·         ‘Declaration of Good Health’ is not required

·         Life insurance cover between 20 to 120 times of the monthly SIP instalment or Rs.50 lakhs whichever is lower

·         Minimum Smart SIP Amount: Rs.500 per month and in multiples of Re.1/- thereafter

·         Insurance claim payment to Nominee of the investor

The facility is available for investments into all open-end Equity schemes (except DHFL Pramerica Arbitrage Fund), Fund of Funds and Hybrid schemes of DHFL Pramerica Asset Managers.

ELSS

·         Equities are volatile in the short term but have the potential to deliver better returns when invested for long term (10% LTCG on profit above one lakh)

·         In comparison to the popular investment options like FD, PPF, NPS, NSC, ULIP, Sukanya Samriddhi and SCSS… ELSS fares better in various metric

·         Reasons why ELSS is a better option in SIP format

1)      Possibility of earning income in the lock in period by way of tax free dividends.

2)      Least Lock in period

3)      Potential for better returns

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