Many people in the populace may be looking at starting systematic investment plans (SIPs) in mutual funds to benefit from the steep correction in equities.
Some may also be thinking of buying or enhancing the life insurance cover as the world grapples with the covid-19 pandemic which has emerged as one of the biggest threat to human life and health in recent history.
But many do not know some mutual fund houses offer life insurance for those investing in their SIPs. Mutual fund houses have varying names for such products.
Like ICICI Prudential Mutual Fund calls SIP with life insurance cover as SIP Plus, Aditya Birla Sun Life calls it as Century SIP while Nippon India calls it SIP Insure.