Money & Economy

Max Bupa launches health insurance policy for extended families

Max Bupa Health Insurance has launched ‘Family First Health Insurance Plan’ under which customers can choose a cover for their extended families,in addition to their spouse and children. Family First is a health plan designed keeping in mind the health insurance needs of the Indian joint families,where the customers can choose a cover for not just their spouse and children,but also for their extended families,including parents,grand-parents,in-laws and grand children. The plan provides flexibility for families to decide their optimal cover based on their needs. They can choose a sum insured per person (one amount chosen for all family members),as well as a floating amount for the entire family that can be utilised once the sum assured per person is consumed. Max Bupa Health Insurance is a joint venture between Max India and the UK-based Bupa. While Max India holds 74 per cent stake in the company,Bupa has 26 per cent in the joint venture.

HDFC Mutual Fund launches new scheme

HDFC Mutual Fund has launched HDFC FMP 100D September 2010 (4) under HDFC Fixed Maturity Plans-Series XIV. The scheme is a close-ended income scheme. The investment objective of the Plan under the scheme is to generate income through investments in debt/money-market instruments and government securities maturing on or before the maturity date of the Plan. The scheme will offer growth and dividend (payout) option. The Plan will have the maturity period of 100 days. The Plan will invest 60 per cent-100 per cent of assets in debt and money-market instruments and the remaining in government securities. The Plan opens on 30th September and closes on 6th September. The exit load for the Plan is nil. During the new fund offer (NFO),the units will be offered at face value of Rs10 per unit. The minimum investment amount is Rs 5,000. CRISIL Liquid Fund Index is the benchmark index. Bharat Pareek and Anand Laddha are fund managers.

L&T MF Introduces Daily Investment Plan in L&T

L&T Mutual Fund has announced the introduction of Daily Investment Plan,a product add-on that offers investors the opportunity to transfer a fixed amount on a daily basis to the eligible Open ended equity schemes of L&T mutual funds from the date of this addendum. Under this plan,the investors will be making one time investment in L&T Freedom Income – Short Term Fund- Regular Plan – Cumulative Option and subsequently opt for daily transfer of a fixed amount to the schemes such as – L&T Opportunities fund,L&T Growth fund,L&T Midcap fund,L&T Multi cap fund,L&T Hedge Equity fund,L&T Contra fund,L&T Global Advantage fund,L&T Infrastructure fund and L&T Small cap fund.

Birla Sun Life MF makes Addendum to its Funds

Birla Mutual Fund has given notice to investors that in case an investor has purchased Units of a scheme of Birla Sun Life Mutual Fund on more than one Business Day (either during the New Fund Offer Period,or on an ongoing basis),the Units purchased prior in time will be redeemed first. Thus,in case of valid application for redemption is made by the investor,those Units of the scheme which have been held for the longest period of time will be redeemed first i.e. on a First- in-First-Out basis. All other features and terms and conditions of the scheme(s) shall remain unchanged.