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Chennai, June 28 Reliance Mutual Fund (RMF) on Friday launched Reliance SIP Insure, an investment option with free life insurance cover. The Deputy Chief Executive officer of Reliance Capital Asset Management Ltd (RCAML), Mr Sundeep Sikka, said the facility was provided in 10 select equity schemes of RMF and will help support investors to accomplish their goals even in the event of their unfortunate demise.

In the event of death of an investor, the balance unpaid SIP instalments would be made good from insurance cover offered by Reliance General Insurance. The nominee would be able to continue in the scheme without having to make further contribution to the scheme, which is subject to a maximum of Rs 10 lakh, he said.

The minimum investment per instalment is Rs 2,000 a month and there is no upper limit. The minimum period of contribution is three years and thereafter, in multiple of one year, he said.

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