Chennai, Oct 11 (UNI) HSBC Investments India today launched HSBC SIP Plus, a first-of-its-kind value-added SIP offering which provides its investors with a 'free' critical illness cover without medical bills.
HSBC Mutual Fund has tied up exclusively with ICICI Lombard to design this innovative offering for its customers, a release here said.
The core benefits of Systematic Investment Plan were disciplined savings, rupee cost averaging, investment in small amounts and the benefits of compounding.
With HSBC SIP Plus there was the key added advantage of the critical illness cover on the basis of diagnosis only and it also offers additional personal accidental death and accidental permanent total disability cover.
The six key critical illnesses covered including Cancer, Bypass surgery, Heart valve replacement surgery, Stroke major organ transplant, and end-stage renal failure.
All this at no additional cost to the investor.
The sum assured was equal to the total sum of SIP investment for the entire period like for a monthly SIP of Rs 15,000 for 60 months, the sum assured was Rs 9,00,000.
The SIP Plus can be availed of with all the open-ended equity schemes of HSBC Mutual Fund, the release added.