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Popularity of SIPs could mean the end for agents

Mutual fund companies have now started offering life cover when an investor invest in to the schemes through SIPs.

Apnainsurance.com Research Bureau

14 Jun 2008

Birla has recently launched a Century SIP. SIP means a systematic investment plan where a person invests in to any of the existing 18 schemes of Birla Sunlife Mutual Fund.

The cover starts 45 days after the first premium is paid. This is a true rival of the unit-linked insurance plans (ULIPs). The insurance agents who get paid hugely on selling ULIPs will get a big hit if the SIP plus insurance works.