This fund is suitable for investors who are seeking*:
Long term capital growth
Investment in equity and equity related instruments through a research based approach
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them.
To save tax upto Rs. 46,350 (assuming investor is in the highest tax bracket and invest Rs 1.5 lac under Section 80C of Income Tax Act 1961): Individual and HUF having taxable income of less than Rs. 1 crore can invest upto Rs. 1.5 lakhs under the ELSS scheme during the FY 2016-17 as per provision of Section 80C of the Income Tax Act 1961 (Includes applicable cess).
Tax saving will be proportionately reduced subject to the taxable income and investments.
Further, Investment in ELSS schemes is subject to lock in period of 3 years from the date of allotment of units.
The tax benefits are as per the current income tax laws and rules. Investors are advised to consult their tax advisor before investing in such schemes.
Free life insurance cover provided as a part of an add on feature called as ‘Reliance SIP Insure’ is arranged and funded by Reliance Nippon Life Asset Management Limited through “Reliance Group Term Assurance Plus” (UIN 121N104V01) of Reliance Nippon Life Insurance Company Limited (IRDAI Reg. No. 121). On exercising an option to become a member of insurance scheme, the death benefits (subject to the terms and conditions of the insurance, read along with the Certificate of Insurance, of the Group Term Assurance Plus Policy), shall be paid/ credited directly to investor's nominee by Reliance Nippon Life Insurance Company Limited. The investor is advised to refer to detailed sales brochure of Reliance Group Term Assurance Plus before deciding to opt for insurance cover. Please refer to http://www.reliancenipponlife.com/ for more details. There is no compulsion whatsoever that this insurance cover has to be taken together with SIP. SIP is also available without insurance cover