there is a combo bundled product wherein Free Life Insurance cover is given by Mutual Funds like Birla, Reliance and Kotak.
Let us analyse whether they are worth being looked into......
Let us look at each AMC separately and see what they are offering.
Also, in Kotak, the unpaid installments is paid to the nominee....
In Birla, the Insurance Coverage will gradually Increase^^^^^^^^^
but in Reliance and Kotak, the Insurance Coverage will gradually decrease.
Ideally, one can take a sip in 1 Birla and 1 Reliance/Kotak, this way your Insurance Coverage will be more or less the same throughout.
Experts like Dhirendra Kumar, Suresh Sadagopan, Veer Sardesai have endorsed that these products make for good investment.
So, investors, the Combo product gives you Insurance Cover in an absolutely cheap way and be seriously looked especially if you are investing in Reliance/Birla/Kotak funds.
And, yes, your Primary Motive should an investment and the Fund should qualify for that, the Insurance Bait should be taken only as a Value addition and should not be the sole criteria for investing in these funds.
PLEASE DO NOT TAKE THIS AS A REPLACEMENT AS FOR REGULAR TERM INSURANCE OR ULIP.