PGIM India Mutual Fund withdraws complimentary term insurance under SMART SIP

PGIM India MF has decided to withdraw the complimentary term insurance cover that was offered to eligible investors under its Smart SIP facility under some of its equity oriented, hybrid and international schemes.

“Over the last several quarters, severe uncertainties triggered by the pandemic have led to insurance processes becoming more rigorous. We anticipate severe challenges in providing a uniform experience to all our investors rendering it extremely difficult to continue servicing this complimentary offer,” said a note by PGIM India MF to its investors.

The insurance cover being currently offered on a complimentary basis to eligible Smart SIP unit holders is valid till May 16, 2022 and will be withdrawn with effect from this date.


The unitholders eligible for the SMART SIP facility of the above schemes are being provided an option to withdraw their investments made in the above schemes, without applicability of any exit load for a period of 30 days starting April 1, 2022 and ending on April 30, 2022.