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Do you have free life insurance on Mutual fund SIP

Mutual fund SIP is not only beneficial to accomplish your long term goals but it may also offer free life insurance coverage. These term insurance available as Group Insurance policy are offered to the investors. The policy also waives off the premium to be paid by the investors and the insurance coverage being free of charge. These schemes are available only at certain fund houses and applicable only if the investor has opted for a 36-months SIP.
Schemes which have performed consistently over the long term and have beaten their benchmark regularly are the best to apply for life covers. Generally it is considered to have life cover of at least 10 times of annual take-home income but keep in mind that withdrawing a partial amount to meet your goal can cease the coverage.

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