This is probably the main point of difference when it comes to the insurance component of the plans though it's not easy to make a clear comparison.
Reliance SIP
You get a maximum cover of Rs 10 lakh. If the unit holder dies in the first two years the cover equals the aggregate unpaid balance in the SIP installments. After the first two years, the cover equals twice the targeted SIP contribution. So for example if your SIP has monthly payments of Rs 5,000 for five years, from the third year onwards your cover will equal Rs 6 lakh.
Birla SIP
The cover after three years equals 100 times the SIP payment for a single month. So if your monthly payment is Rs 5,000, your cover after three years is Rs 5 lakh.
Kotak Star Kid
As the name suggests, only your child can be your nominee. The cover itself declines with the passage of time.
After one year, the sum assured equals one month's installment multiplied by the number of remaining months. Thus if your monthly payment is Rs 5,000 and the tenure is 5 years the cover will equal Rs 1.8 lakh after two years.
If the tenure is 10 years with the same monthly installment the cover will equal Rs 4.8 lakh after two years.
Also read: 7 common financial
mistakes
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