HSBC - SIP with Health Insurance
Saturday, October 20, 2007
HSBC - The World's Local Bank has customized offering of Mutual Fund SIPs in India. This a very innovative scheme and HDFC and Reliance Mutual Funds should also launch such schemes.Here is the details that we received from HSBC.
- The insurance will cover cancer, stroke, bypass surgery, accidental death or permanent disability
- The maximum cover will be for Rs 10 Lakhs.
- The cover that can be claimed is proportional to SIP amount paid every month. Suppose you invest Rs 2,000 / month, you will get insurance cover of Rs 72,000 over three years as that's the minimum period you have to stay invested to claim insurance.
- Eligible age for investor is between 20 and 50 years
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