Birla Sun Life Insurance has launched BSLI Savings Plan, a participating traditional plan with guaranteed additions for the first five years of the policy term. Customers can opt for a premium payment term of 10, 15 or 20 years with the minimum age of entry at 18 years and the maximum at 50. The minimum sum assured for this plan is R30,000. Annual premium can be as low as R2,500. The plan offers reduced paid-up benefit and auto cover continuation benefits. For customers who have paid the premium for three years, but are unable to pay subsequent ones, full death benefits will continue for two successive years from the due date of the first unpaid premium.
Future Generali’s non-linked plan
Future Generali Life Insurance has launched Future Generali Pearls Guarantee, which is a non-linked, non-participating life insurance plan with limited premium payment term and guaranteed cash back.
The plan provides fixed policy terms of 16 and 18 years for which the customer would pay the premiums for 10 and 12 years, respectively. After the premium payment term, at the end of every year till maturity, 10% of the sum assured will be paid to the customer as money back. At maturity, 70% of the sum assured will be paid as maturity benefit.
Reliance MF’s interval fund
Reliance Mutual Fund has launched the new fund offer of Reliance Interval Fund, which is an open-ended income scheme. The NFO closes for subscription on October 21. The investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of Central, state government and other fixed income debt securities, which are maturing on or before the next specified transaction date of the scheme.
ICICI Pru MF’s capital protection fund
ICICI Prudential Mutual Fund has launched an NFO of its capital protection oriented fund. Subscription to the NFO closes on October 21 and the investment objective is to protect capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities.
SBI MF removes exit load for 3 schemes
SBI Mutual Fund has removed the exit load structure of SBI FMCG Fund, SBI IT Fund and SBI Pharma Fund. The change will be applicable on all prospective investments made on and after October 10.
ICICI Prudential MF declares dividend
ICICI Prudential Mutual Fund has declared dividend of R0.2067 per unit on the face value of R10 per unit under the dividend sub-option of ICICI Prudential Interval Fund II-Quarterly Interval Plan. The record date for dividend is October 15.