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: units accumulated at the start of the each policy year. After the completion of the third year or the start of the fourth year, the nominee will still receive 100 times or the fund value, whichever is higher.
One must not forget that the exit load would be applicable if one has opted for a 15-year tenure as well and not three years as in the case of Reliance MF, which is the maximum tenure. There is no exit load in Birla Sun Life Century SIP after three years, irrespective of the how much tenure for which the SIP is taken (age limit of 55 years). Now, in both the cases, if the holder dies due to suicide or pre-existing illness, insurance benefits cease to exist.
After seeing both the schemes, Birla Sun Life Century SIP insurance feature is more beneficial to investors, irrespective of the returns delivered by a particular scheme. This benefit would be fruitful after the tenure if the fund value on the day of redemption is lower than the sum assured in the case of Birla Sun Life Century SIP. In the case of Reliance MF, the nominee gets more of a sum insured, if the demise happens after the 2nd year, since the 1st option just fulfils the need of the remaining installments. So, it would be beneficial to stay with a scheme and be a long-term investor and get the benefit of appreciation and insurance....
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