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Mutual funds might over take Ulips

Mutual funds houses are persuading the retail investor to buy mutual by spicing up their their systematic investment plans (SIPs) with free life insurance cover.

18 Jun 2008

Mutual funds houses are persuading the retail investor to buy mutual by spicing up their
their systematic investment plans (SIPs) with free life insurance cover, the product resembles like a unit linked insurance plan (ULIP) offered by insurance companies.

This product has given a long debate between mutual fund industry and insurance industry. Many feel this product may not prove to be a direct substitute to ULIPs.

For tax purpose, ULIPs under Section 80C are more attractive proposition than mutual funds schemes.

Investors should first identify what they actual need insurance or investment then buy Ulip's or mutual fund schemes.

Presently, Birla Sun Life Mutual Fund and Reliance Mutual Fund are the only two fund houses who have introduced life insurance cover along with SIP.



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