Free Life Insurance Cover with Reliance SIP Insure

Reliance Mutual Fund has recently launched a new unique product "SIP Insure". SIP insure is a Mutual Fund feature of Life Insurance cover in which a person applying for mutual Fund scheme also get Insurance coverage to the extent of unpaid SIP installment due, without any extra cost. For example a person applies for an SIP in any applicable scheme for 10 years and opt for this feature, and he dies in between, the Reliance Life Insurance company will pay the remaining SIP amount to its nominee account. Nominee can either withdraw whole amount or can take partial withdrawal. In short this feature enables an SIP investor a guarantee of SIP installments even if he is no more.

This unique feature has been added in association with Reliance Life Insurance company under group insurance scheme. But there are some criteria to be fulfilled for getting this feature free of cost. First of all SIP monthly installment should be Rs. 2000/- or more. Applicant should not be less than 20 years and not more than 46 years of age. The minimum SIP tenure should be for 3 years and maximum SIP maturity age of 55 years. This Life insurance feature will definitely strike to the investors as they get free Insurance cover without any additional cost. This facility is possible because of group life insurance schemes. (Please read all details and terms and condition in the offer document of the schemes offered before investing).

HSBC Mutual Fund, Birla Sunlife Mutual fund, Kotak Mutual Fund has also launched schemes similar to this. HSBC "SIP Plus" is giving free critical illness cover in open ended equity schemes and Birla Sunlife Mutual Fund is giving Life insurance cover of 50 times of SIP amount in first year and 100 times of cover in second year onwards. These types of schemes will be a drawback for Life insurance agents selling insurance plans which charge for providing insurance cover.

List of Mutual Funds in India

Here is the latest list and links of Mutual Funds in India:

ABN Amro Mutual Fund
AIG Global Investment Group Mutual Fund
Benchmark Mutual Fund
Birla Sunlife Mutual Fund
BOB Mutual Fund
Canara Robeco Mutual Fund
DBS Chola Mutual Fund
Deutsche Mutual Fund
DSP Merill Lynch Mutual Fund
Edelweiss Mutual Fund
Escort Mutual Fund
Fidelity Mutual Fund
Franklin Templeton Mutual Fund
HDFC Mutual Fund
HSBC Mutual Fund
ICICI Prudential Mutual Fund
IDFC Mutual Fund
ING Mutual Fund
JM Financial Mutual Fund
JP Morgan Mutual Fund
Kotak Mahindra Mutual Fund
LIC Mutual Fund
Lotus India Mutual Fund
Mirae Asset Mutual Fund
Morgan Stanley Mutual Fund
Principal mutual Fund
Quantum Mutual Fund
Reliance Mutual Fund
Sahara Mutual Fund
SBI Mutual Fund
Sunderam BNP Paribas Mutual Fund
Tata Mutual Fund
Taurus Mutual Fund
UTI Mutual Fund

Mutual Fund waiting approval from SEBI:
Bharti AXA Mutual Fund

Become a Certified Mutual Fund Advisor

If you have experience in financial sector, Insurance, etc then there is also one area which can give you huge earning. Become a certified Mutual Fund advisor by appearing AMFI exam which is conducted by NCFM ( NSE's Certification in Financial Markets). Yes AMFI (Association of Mutual Funds in India) conducts certification programme of Mutual Fund basic and advisor module.There is great demand of financial planners in India. It is mandatory to pass Mutual Fund advisor module to canvass mutual fund business in India.

Any one can become Mutual Fund advisor who has passed 12th exam. There is no age ristriction to appear in exam. The examination fees is Rs. 1000/-
As per industry reports there are 15 lacs Insurance agents in India and only 60,000 Mutual Fund advisor's.

Once you clear AMFI Mutual Fund advisor exam you can register with AMFI. You will be given an unique code called ARN code (AMFI registration number) The registration fee is Rs. 500 for individuals. After that you can apply to various mutual funds to include you in their panel as a distributer. Now you are ready to canvass business for which mutual funds pay commision to distributors which is normally 2.25 %. For more details visit AMFI website. For test details visit nseindia website.
So all the best guy's! an exciting carreer is ahead... best of luck...