Reliance SIP insure vs ULIP
Share this on

Reliance SIP insure vs ULIP

Reliance SIP Insure ULIP
Minimum premium 2000/- (monthly). SIP is mandatory. NA
Insurance is offered for free Amount will be deducted from the corpus to cover your insurance
Entry load of 2.5% exit load of 2% 30-70 % of the premium is deducted towards fund maintenance and other expenses in the first year and deductions will be 5-10% in the second and third years.  The amount required to cover you for 15 or 20 years are recovered  in the first 3 years
Maximum sum assured : 10 lakh NA
Does not provide 80C exemption Provides 80C exemption
In the unfortunate event of death, beneficiary or nominee receives the following.
/>
1. The fund value paid so far
/>
2. The unpaid installments of for the term chosen.
In the unfortunate event of death beneficiary receives the
/>
1. The corpus of amount insured for.
/>
2. Fund value based on the current NAV

They have their difference and some might argue that we are comparing apples and oranges. My argument is, they are really not that different. Both invest in capital markets and both provide an insurance options. Reliance wanted to capture the ULIP market and is luring the investors with the insurance options. Except for the 80C option I really do not see a reason why investors would flock for ULIP’s.