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SBI Retirement Benefit Fund: Insurance up to 50 lakh on SIP, along with many more benefits

SBI Retirement Benefit Fund: SBI Mutual Fund has launched the Retirement Benefits Fund on 20 January.

SBI Retirement Benefit Fund: If you are looking for a better investment plan for retirement, then the new scheme of SBI Mutual Fund can be of great use to you. SBI Mutual Fund has launched Retirement Benefit Fund on 20 January. This new fund offer can be invested till 3 February. SBI Retirement Benefit Fund, is a Solution Oriented Fund, offering 4 schemes in the Risk Profile. In this scheme, term insurance cover of up to Rs 50 lakh per investor is also being provided through SIP. There are many other benefits in this new fund offer of SBI. Such as SWP facility in dividend option and withdrawal facility on a quarterly basis.

Term insurance up to 50 lakhs

An investor registered under the SBI Retirement Benefit Fund for a period of 3 years and above can opt for term insurance cover. In the event of an accident, the nominee will get a benefit of up to Rs 50 lakh. The specialty of SIP insurance is that the insurance cover will increase in the first three years.

Year 1: 20 times of monthly SIP installation or less than 50 lakhs

Year 2: 50 times of monthly SIP installment or less than 50 lakhs

Year 3: 100 times of monthly SIP installation or less than 50 lakhs

Year 4 onwards: 100 times of monthly SIP installments or less than 50 lakhs

4 types of plans in the fund

The fund will be managed by Gaurav Mehta (equity), Dinesh Ahuja (fixed income) and Mohit Jain (foreign securities); The fund is offering 4 investment schemes, which are Aggressive (Equity Oriented), Aggressive Hybrid (Equity Oriented), Conservative Hybrid (Debt Oriented) and Conservative (Debt Oriented).

Apart from equity and debt instruments, each plan can get 20% exposure to gold ETFs, exposure up to 10% in REITs / InVITs and up to 35% aggressive plans in foreign securities including overseas ETFs. At the same time, up to 15 percent in aggressive hybrid plan and conservative hybrid plan and 10 percent in conservative hybrid plan.

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SWP facility

Investors can also avail the SWP facility on the dividend option in the scheme and withdraw their investments systematically on a quarterly basis. However it will be subject to lock-in period. This facility can help the investor to meet his expenses after retirement.

Minimum investment, lock in period

Minimum SIP – 1000 rupees

Minimum Purchase Amount – Rs 5000

Lock in period – 5 years or till retirement age i.e. 65 years whichever is less

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