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SIP KA VAADA.
INSURANCE KA FAAYDA.

A SIP with Free Insurance Cover up to 50 LAKHS*

PGIM INDIA

SMART SIP

*Subject to terms and conditions.

Time is changing fast and everything in life is moving from regular to smart. Be it your feature phone, your watch or even the television set in your house, everything has moved from regular to smart resulting in additional benefits. We, at PGIM India Mutual Fund understand the need to stay relevant to the smart mindset and have upgraded the regular SIP to Smart SIP by providing an additional benefit of life insurance cover with the SIP.

We understand that you invest so that your family and you, can enjoy a better future. Investing through Systematic Investment Plans (SIPs) is a good way to achieve your long term goals. But life is full of uncertainties, hence PGIM India Smart SIP provides you an Investment + Insurance facility that even in the case of an unforeseen eventuality, your loved ones financial future is taken care of. The additional benefit of life insurance cover is at no extra cost. Your nominee would get the maximum assured amount subject to a limit of Rs.50 lakhs, making it possible for them to have a better financial future.

Facility Highlights

  • Life insurance cover between 20 to 120 times of the monthly SIP instalment or ₹50 lakhs whichever is lower
  • Minimum Smart SIP Amount: ₹500 per month and in multiple of ₹1- thereafter
  • No waiting period for insurance cover
  • Declaration of Good Health is not required
  • Insurance claim payment to Nominee of the investor

Eligibility for Life Insurance

  • Only resident individual investors whose age is 18 years & not more than 51 years at the time of investment
  • In case of joint holders, only the first unit holder will be eligible for the insurance cover
  • Investor with SIP tenure of less than 3 years will not be eligible for insurance cover
  • Existing investor having live SIP and residual tenure of SIP should be 3 years or more as on December 17th, 2018
 

Benefits of PGIM India Smart SIP

Systematic Investment Plan is a facility through which you can invest small amounts periodically to achieve your long term financial goals like children's education or marriage, down payment for a house or retirement.

  • Makes investing a habit
  • Eliminates the need to time the market
  • Rupee Cost Averaging ensures a lower average cost of purchase over time

Free Life Insurance Cover

(at no additional cost)
  • Free life insurance cover up to ₹50 lakhs per investor across all schemes/plans and folios
  • Nominee's financial future is covered

Benefit from Long Term
Equity Investment

  • Equity investments provide market linked returns over a longer period

Choice of different type of schemes to meet various financial goals such as

  • Long term growth potential of Equities
  • Tax saving benefit under Sec 80C in ELSS scheme
  • Asset allocation through Hybrid schemes
  • Diversification through overseas fund of fund scheme

Convenience

  • Zero waiting period, get insurance coverage from first SIP allotment
  • One Time Mandate for investing
  • Auto Debit Facility available from 6 banks
  • NACH facility across all banks under RBI NACH platform
  • Holding in Demat mode
 

Additional Information on PGIM India Smart SIP Facility

The facility is available for investments into all our open ended

Equity Funds

(except PGIM India Arbitrage Fund)

Fund of Funds

Hybrid Funds

  • Minimum Period
    of SIP Contribution

    3 years

    Minimum
    SIP instalment

    Long Term Equity Fund is Rs. 500 and in multiples of Rs.500 thereafter

  • Maximum Period
    of SIP Contribution

    No upper limit for SIP tenure.

    The investor can opt for Perpetual SIP also.

    Insurance cover ceases when the investor attains 55 years of age or upon the withdrawal/switch of the SIP investment amount in part or full whichever is earlier.

Life Insurance cover under PGIM India Smart SIP Facility

If you do a monthly SIP of ₹10,000 for 5 years

    Insurance Cover

  • Sum Assured = 20 Times

    *Monthly SIP Instalment 20 X 10,000 =

    ₹2,00,000 (2 Lakhs)

  • Sum Assured = 75 Times

    *Monthly SIP Instalment75 X 10,000 =

    ₹7,50,000 (7.5 Lakhs)

  • Sum Assured = 120 Times

    *Monthly SIP Instalment120 X 10,000 =

    ₹12,00,000 (12 Lakhs)

FREQUENTLY ASKED QUESTIONS

1. What is Smart SIP Facility?

Smart SIP provides life insurance cover to investors at no extra cost (i.e. free of cost). In the unfortunate event of the demise of an investor (Primary Holder) during the tenure of the SIP, the nominee would get the maximum assured amount subject to a limit of Rs.50 lakhs. The idea behind offering this facility is to ensure that critical long-term objectives that investors make SIPs for, should still be fulfilled even in the unfortunate event of the death of the investor.?

2. How many people will be covered under insurance?

Only the First/Sole holder will be covered under the insurance provided by Smart SIP. No insurance will be provided to second/third holder

3. Will there be any cost applicable to investor for the insurance cover?

No, the cost of the insurance cover will be completely borne by Asset Management Company (AMC)

4. At the time of investment, will the investor need to furnish any additional documents to avail the life cover?

No, in such cases AMC reserves the right to process the Smart SIP application basis the KYC data, however where these details are not available from KYC as well, then the application will be registered for normal SIP without insurance and AMC will accordingly inform the investor.

  • Date of Birth
  • Gender
  • Nomination

5. Will the application be rejected if the date of birth is not written on the form?

No, in such cases AMC reserves the right to process the Smart SIP application basis the KYC data, however where these details are not available from KYC as well, then the application will be registered for normal SIP without insurance and AMC will accordingly inform the investor

6. How much investment is required to be made to avail the Smart SIP facility?

  • Minimum SIP instalment: For all open-ended schemes Equity Fund: Monthly SIP of Rs.500 and in multiple of Rs.1/- thereafter. PGIM India Long Term Equity Fund: Rs. 500 & in multiples of Rs. 500 thereafter. There is no upper limit.
  • Minimum Period of Contribution: 3 years and in multiples of 1 month thereafter.
  • Maximum Period of Contribution: No upper limit for SIP tenure. The investor can opt for Perpetual SIP also. However, the insurance cover ceases when the investor attains 55 years of age or upon the withdrawal/switch of the investment amount in part or full whichever is earlier.
  • Mode of payment of SIP instalments is only through Direct Debit &Nach (Post Dated Cheques shall not be accepted)

7. What is the SIP frequency for investors to avail Smart SIP?

Investor with monthly frequency are eligible for Smart SIP.

8. What would happen to insurance cover if the SIP is discontinued?

If, SIP discontinues before 3 years then Insurance cover will stop immediately.

9. What will happen if Investor miss a SIP Instalment?

Insurance Cover will discontinue if the investor defaults 3 consecutive SIP in first 3 years of Smart SIP.

10. Cessation of Insurance Cover: Any of the below reason

The insurance cover shall cease upon occurrence of ANY of the following:

  • Discontinuation of SIP instalments before completing 3 years (36 instalments) of the opted SIP tenure
  • Partial or Full Redemption / switch-out of units purchased under DPAM Smart SIP till attaining 55 years of age
  • In case of default in payment of three consecutive monthly SIP instalments of such defaults in the first 3 years of Smart SIP
  • Off market transfer of units in demat form, will be considered as redemption in normal course, and Insurance cover will cease on such transfer
  • Transaction such as switch-out or STP

11. Can existing scheme holder of DPAM avail the Smart SIP Facility?

Existing investors who are eligible for Insurance cover automatically will avail the smart SIP facility. The existing folio will be tagged under Smart SIP

12. I was an existing Investor with DHFL Pramerica Mutual Fund when this facility was introduced, but I was not covered under the Smart SIP facility?

To avail the insurance facility the eligibility criteria for existing and new investor is the same. If your previous application with the fund house does not have any or all the details you can update your missing details in the folio and then you will be eligible to avail this facility. Residual Tenure should be greater than or equal to 3years.

13. Which all schemes are covered under Smart SIP? 

The current list of eligible schemes is:
PGIM India Large Cap Fund
PGIM India Midcap Opportunities Fund
PGIM India Diversified Equity Fund
PGIM India Long Term Equity Fund
PGIM India Equity Savings Fund
PGIM India Hybrid Equity Fund
PGIM India Hybrid Debt Fund
PGIM India Global Equity Opportunities Fund
PGIM India Euro Equity Fund

14. Is there a SIP Top-Up option available for Smart SIP?

Top-Up feature is currently NOT available in Smart SIP

15. Will the Smart SIP be available in demat mode?

Yes, the facility is available in demat mode

16. Can I purchase different scheme under same folio and opt for Smart SIP for all schemes?

Yes, Smart SIP benefits will be given to all the schemes registered under DPAM with a max. cover of 50 Lakhs per investor.

17. Is nominee detail compulsory? How many nominees per scheme?

Yes, nominee details are compulsory if you want to avail the Smart SIP facility, and no. of nominees will be as per mutual fund scheme application form.

18. Can I have different nominee per scheme and all the schemes are registered for Smart SIP under same folio?

Yes, there can be different nomination for all the schemes registered under DPAM

19. What happens to the insurance cover if Investor has registered multiple nomination? Who will get the claim proceeds and in what proportion?

Investor can have multiple nominees under one scheme registered under DPAM. The claim proceeds will be divided equally amongst all the nominees. If the customer has made a specific allocation, then that would be taken into consideration.

20. How will the insurance cover be provided of SIP registered by same investor with high SIP value whose insurance cover exceeds Rs.50 Lakhs?

Total Aggregate Sum Assured for a member can’t exceed 50 lakhs in any year

21. In case of investor having multiple Smart SIP registered under same folio and the investor transfers out/switch-out/full or partial redemption, what would be the impact on insurance cover?

Insurance cover will stop on transfers out/switch-out/ full or partial redemption.

22. What is the Commencement of Insurance Cover?

Insurance cover will commence on the date of receipt of first installment.

23. What are the exclusions for Insurance Cover?

The death benefit is not payable if the insured member dies due to suicide, whether sane or insane within one year from the date of joining the scheme or policy commencement date, whichever is later.

24. What are load structure for investments under this facility?

The load structure prevalent at the time of enrollment of SIP shall govern the investors during the tenure of the Smart SIP structure shall be as mentioned in the SID of respective schemes.

25. Will my insurance cover update if my folio details are updated?

I. NRI to RI
II. Nominee, Gender and Date of Birth detail update
The insurance cover will start from the day when the details are updated i.e. insurance cover day 1 will be day after the next SIP instalment is credited with updated details of that folio

26. How will the investor be intimated that insurance is registered for the folio?

The investor will receive an initial confirmation from AMC on acceptance of Smart SIP registrations and will receive an Insurance Policy directly from the Insurance Company subsequently by email/SMS link. The whole process of insurance registration will take a minimum of 45 days for completion.

27. Will the investor be intimated on yearly renewal of the insurance cover?

The investor will receive an Insurance Policy directly from the insurance company on yearly renewals via SMS/email link with revised sum assured

28. How will the investor identify Smart SIP Folio?

Account statement will have “Smart SIP” mentioned on it post completion of insurance by the Insurance Provider (60days)

29. Can an existing Smart SIP investor enhance his existing cover?

No, cover under existing Smart SIP will continue as per existing contract. It can be enhanced by registering a new SIP (rest of the conditions applied)

30. If any 3-consecutive instalment get rejected by the bank, for any reason, will the Smart SIP continue?

The insurance will discontinue, and the investor will have to re-register a new SIP to avail the benefit of Smart SIP.

31. What if investor wants to change the bank in between, will the insurance discontinue?

No, Insurance will continue.

32. Can the investor change the nomination for Insurance?

Investor can submit the change in nomination request/nomination form for the folio to the AMC. While claiming the Insurance company will confirm the nomination status with AMC before processing the claim.

33. Can I merge Smart SIP with new or existing facility provided by DPAM?

No, currently not, however AMC reserves the right to provide Smart SIP with any other add -on DPAM facility.

34. What is the process of claiming insurance?

In case of death of the applicant, his/her legal representatives/Nominee will have to file a claim directly with the Insurance Company supported by all relevant documents as required by the Insurer and the payment of the claim will be made to the legal representatives by the insurance company

35. Is there a time limit within which the claimant must report the death of the investor to the insurance Company?

Currently, there is no such time limit within which claimant must report the death of the investor. The Insurance Company would settle the claim provided the investor was covered under the policy as on date of death.

MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY

The information contained herein is provided by PGIM India Mutual Fund Pvt. Ltd. (Formerly known as DHFL Pramerica Asset Managers Pvt. Ltd.) (the AMC) on the basis of publicly available information, internally developed data and other third party sources believed to be reliable. However, the AMC cannot guarantee the accuracy of such information, assure its completeness, or warrant such information will not be changed. The information contained herein is current as of the date of issuance* (or such earlier date as referenced herein) and is subject to change without notice. The AMC has no obligation to update any or all of such information; nor does the AMC make any express or implied warranties or representations as to its completeness or accuracy. There can be no assurance that any forecast made herein will be actually realized. These materials do not take into account individual investor’s objectives, needs or circumstances or the suitability of any securities, financial instruments or investment strategies described herein for particular investor. Hence, each investor is advised to consult his or her own professional investment / tax advisor / consultant for advice in this regard. The information contained herein is provided on the basis of and subject to the explanations, caveats and warnings set out elsewhere herein. These materials are not intended for distribution to or use by any person in any jurisdiction where such distribution would be contrary to local law or regulation. Distribution of these materials to any person other than the person to whom it was originally delivered and to such person’s advisers is unauthorized, and any reproduction of these materials, in whole or in part without the prior consent of the AMC, is prohibited. The views of the Fund Manager should not be construed as an advice and investors must make their own investment decisions regarding investment/ disinvestment in securities market and/or